ESS beat consensus of $0.14 with $0.18
My question is: Can you have a consensus with only one analyst following the company?
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ESS Technology, Inc. Reports Second Quarter Results
FREMONT, Calif., July 21 /PRNewswire/ -- ESS Technology Inc. (Nasdaq: ESST - news) today reported net income of $7.9 million, or $0.18 per diluted share, on net revenues of $67.2 million for the quarter ended June 30, 1999. This compares to a net loss of ($13.0) million or ($0.32) per diluted share, on net revenues of $34.8 million in the second quarter of 1998. ''We are pleased with the financial results and our continued profitability in the second quarter of 1999. The second quarter has historically been our lowest seasonal quarter. This was the best second quarter revenues in the company's history, and we believe we are well positioned with products and design wins for the second half of 1999,'' said Fred Chan, Chairman and Chief Executive Officer.
''ESS Technology has been a pioneer in digital audio & video and we are excited by the tremendous opportunities created by the Internet. Recently ESS formed ViAlta.com, a wholly owned subsidiary to leverage ESS's technologies into these opportunities by creating new Internet platforms and applications,'' commented Chan.
ESS Technology
ESS Technology, Inc. supplies Internet, modem, PC audio and digital video solutions for the Internet, PC and consumer markets. ESS designs, develops, and markets highly integrated mixed signal semiconductor, hardware, software and system solutions for Internet, PC and multimedia applications. ESS, headquartered in Fremont, California, has sales and technical support offices in Austin and Houston, Texas; Irvine, California; Bellevue, Washington; Beijing and Shenzhen, China; Tokyo, Japan; Taipei, Taiwan; Seoul, Korea; and Hong Kong. ESS Technology is listed on the Nasdaq Market System under the symbol ESST. World Wide Web site: esstech.com
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