GNSS-Moving up in A/H on News of Good numbers...
By: stockmom $$$$$
29 Apr 2002, 05:41 PM EDT Msg. 1748 of 1748
Genesis Microchip reports pro-forma Q4 profit
SAN JOSE, Calif., April 29 (Reuters) - Genesis Microchip Inc. (NasdaqNM:GNSS - news), which develops display technologies, on Monday reported a fourth-quarter pro-forma profit as revenues tripled.
Pro forma earnings, excluding expenses for amortization of core technology, in-process research and development expense, amortization of deferred stock compensation, restructuring expenses and pro forma income tax adjustments, was $8.9 million, or 32 cents per diluted share.
In the same quarter last year, Genesis recorded a loss of $2.8 million or 15 cents per share.
On a GAAP basis, Genesis' fourth-quarter loss was $336,000 or 1 cent per share. Revenue in the quarter was $56.1 million, compared with $18.5 million in the same quarter last year.
The company estimates first-quarter 2003 revenue will exceed $60 million and revenue will be in the range of $250 million to $270 million for the full-year 2003.
CBS Marketwatch
Two of the evenings biggest winners,
communications chipmaker Genesis Microchip (GNSS: news, chart, profile) and business software firm FreeMarkets (FMKT: news, chart, profile) saw their shares surge 17 percent and 6 percent respectively. Both companies surpassed analyst expectations with their reports. |
