what was the expected number? here's the release:
Alliance Semiconductor Reports Financial Results for the Quarter Ended Dec. 27, 1997
SAN JOSE, Calif.--(BUSINESS WIRE)--Jan. 14, 1998--Alliance Semiconductor Corporation (NASDAQ:ALSC) today reported net revenues of $24.8 million and net loss $2.4 million, or $0.06 per share.
The net loss includes a pre-tax charge of $6 million to adjust the valuation of the Company's older inventories in each product line and reflect the DRAM price declines.
These results compare to net revenues for the same quarter last year of $25.2 million and net loss of $1.3 million, or $0.03 per share. For the prior quarter ended September 27, 1997, revenues were $29.0 million and net loss of $4.6 million, or $0.12 per share, including a $6 million inventory charge.
"Alliance continued to experience severe price pressure on most DRAM products leading to a decline in revenues from the previous quarter. Aggregate revenues from our other product lines improved from the previous quarter, but only modestly as customers appeared more cautious about their inventory levels," stated N.D. Reddy, Alliance Chairman, President and CEO.
"As a result of the difficult DRAM environment, we decided during the quarter to reduce overall DRAM production. We were successful in this endeavor, and DRAMs accounted for 50% of net revenues this quarter, down from 63% last quarter. DRAM pricing visibility remains limited, so we will continue to closely monitor our product mix. The Company continues to develop new products based on leading edge technologies to bring down manufacturing costs in all of our product lines and introduce them to market as quickly as possible. The focus also remains on our sales efforts to take advantage of new customer and market opportunities."
Reddy continued, "In the December quarter, we announced our first embedded product, the ED3D. ED3D combines a 2D/3D graphics controller with 2 megabytes of embedded memory. The embedded product line is a new and exciting direction for the Company and one that holds enormous potential for us."
Alliance also announced two key organizational changes as the Company continues to invest in the organization in preparation for the growth ahead. C.N. Reddy was promoted to Chief Operating Officer and Executive Vice President and Bill Caparelli joined the Company as Senior Vice President of Sales.
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