From CableToday............................
cabletoday.com
C-Cube Improves in 2Q
July 15, 1999
C-Cube Microsystems reported second quarter revenues of $94.1 million on strong sales from its DiviCom division, compared with $82.5 million for the same period in 1998 and $96.5 million for the first quarter of 1999.
Net income for the second quarter reached $11.7 million, or $0.28 diluted earnings per share. This compares with net income of $10.7 million, or $0.28 per share ($0.25 excluding extraordinary gain) a year ago; and $13.0 million, or $0.32 per share in the prior quarter.
"DiviCom, which is already a leading supplier in Direct to Home satellites, European cable and U.S. telco markets, clearly established itself as a top-tier player in the U.S. digital cable marketplace," the company said in a prepared statement. "The head-end encoder win at Time-Warner's New York broadcast center coupled with the MediaOne contract announced in Q1 builds an impressive base from which we expect continued growth."
DiviCom become the first digital video company to deliver its 5,000th encoder during the quarter, the company said.
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