Business seems to ramping for Genesis. This was released this morning:
GENESIS SHIPS MORE THAN ONE MILLION CHIPS IN MOST RECENT QUARTER
"New Milestone" Reached On The Heels Of Market Share Increase
SAN JOSE, CALIF. (Oct. 24, 2000) - Genesis Microchip (Nasdaq: GNSS) today announced it shipped more than one million integrated circuits in a single quarter - a company first.
More than 1,060,000 LCD controller, video-processing and related chips were shipped in the second quarter of fiscal 2001, which concluded September 30, 2000.
The company also commented on a recent report from LCD market research firm DisplaySearch, which notes Genesis's share of the LCD controller market "jumped from 35% to 42%." It adds the company also "benefited from the rapid adoption of dual interface LCD monitors whose market share jumped from 8.9% to 11% in Q2’00. Dual interface shipments are expected to grow to 14.5% in Q3’00."
(Source: DisplaySearch Q2-00 report, details available at displaysearch.com
Genesis announced the world's first single-chip dual-interface controller, the gm5020, at this year's Society For Information Display show.
"The 'million chip in a quarter' is a new milestone for us," said Genesis President and CEO Amnon Fisher. "This news added to our recent earnings announcement and the DisplaySearch report makes last quarter look quite remarkable. Obviously, we intend to maintain our leadership position and aggressively grow our market share further."
Genesis Microchip Inc. - an ISO9001-registered company - is the leading supplier of digital LCD monitor controllers. Genesis processors are available with integrated dual interfaces (digital and analog) as well as with digital-only or analog-only interfaces for use with DVI and VGA-compatible computers. The company's highly integrated semiconductors are also used in DVD players, digital displays, home theater equipment and many other consumer applications. Genesis chips have been used in products from Acer, Apple Computer, Daewoo, Dell, Fujitsu, IBM, In Focus Systems, Hitachi, LG Electronics, Mitsubishi, NEC, Philips, Samsung, SGI, Sharp, Sony, Tatung, ViewSonic and many more industry leaders.
Genesis has offices in Silicon Valley (Alviso, California), Taiwan and Thornhill, Ontario, Canada. Further information is available at www.genesis-microchip.com.
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Genesis Microchip - Page 2
Safe Harbor Statement
The statements by Amnon Fisher and the statements regarding business outlook contain “forward-looking” information within the meaning of the United States securities laws that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Potential risks and uncertainties include, without limitation, the growth rate of the markets into which the Company sells its products; maintaining market share, market acceptance of and demand for the products of the Company and those of the Company’s customers; unanticipated delays or problems in the introduction of the Company’s products or its customers products; the Company’s ability to introduce new products in accordance with OEM design requirements and design cycles; new product announcements or product introductions by the Company and the Company’s competitors; availability and cost of manufacturing sources for the Company’s products; supply constraints for components incorporated into the Company’s customers’ products; the volume of orders that are received and can be filled in a quarter; the rescheduling or cancellation of orders by customers; costs associated with protecting the Company’s intellectual property; changes in product mix; changes in product costs and pricing; and currency exchange rate fluctuations. These and other important risk factors are more fully detailed in the Company’s SEC filings. Statements contained herein are made as of the date hereof and the Company assumes no responsibility for updating such information.
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