C-Cube reports higher sales and earnings for the quarter
semibiznews.com
A service of Semiconductor Business News, CMP Media Inc.
Story posted 6:30 p.m. EST/3:25 p.m., PST, 7/15/99
MILPITAS, Calif.--Both sales and profits were up in the second
quarter for C-Cube Microsystems Inc.
The chip maker today reported revenues of $94.1 million, up 14%
from the $82.5 million for the same period in 1998, but down 2.5%
from the $96.5 million reported for the first quarter of 1999.
Net income was up 9.3% to $11.7 million (28 cents a share) from
10.7 million (28 cents a share) a year, but off 10% from $13 million
(32 cents a share) recorded in the prior quarter.
"We are very pleased with our second quarter performance, which
set a revenue record for this historically low period," commented
Alexandre Balkanski, CEO. "We successfully offset normal seasonal
downturns in our Asian-based VCD business with strong growth in
the DVD marketplace--particularly in Korea and Japan-and continued
growth at our DiviCom subsidiary."
C-Cube said it shipped a record number of DVD chips during the
quarter-a total that exceeded 1 million units.
C-Cube Microsystems Inc. is a leader in developing highly integrated
digital video silicon and systems solutions, delivering digital video
silicon and systems to the communications and consumer electronics
markets, as well as products for audio/video encoding, data broadcast
solutions, and network management systems. |
