MAKR earnings out, doubled expectations on EPS and good revenue numbers too
<<FRAMINGHAM, Mass.--(BUSINESS WIRE)--Oct. 14, 1999--Maker Communications, Inc. (NASDAQ:MAKR - news) today announced financial results for the third quarter ended September 30, 1999 including record revenues and profitability.
Revenues for the third quarter of 1999 were $4.1 million, up 83 percent from the $2.2 million reported in the third quarter of 1998 and up 13 percent from the $3.6 million reported in the second quarter of 1999. Operating income for the third quarter of 1999 was $118,000 compared to a $1.1 million operating loss for the same period in 1998. Net income for the third quarter of 1999 was $830,000 or $.04 per share (diluted) ($.02 per share at a fully taxed rate of 40 percent) versus a net loss of $1.0 million or $.18 per share (diluted) for the third quarter of 1998.
Revenues for the nine-month period ended September 30, 1999 were $10.8 million, up 120 percent from $4.9 million a year ago. Net income for the nine-month period ended September 30, 1999 was $1.3 million or $.07 per share (diluted) ($.04 per share at a fully taxed rate of 40 percent) versus a net loss of $3.4 million or $.60 per share (diluted) for the same period in 1998.
''I am pleased to report Maker's strong performance in the third quarter as again we have achieved record revenues and profitability,'' said William N. Giudice, Chairman and Chief Executive Officer, Maker Communications. ''The number of product programs in production using our network processors is growing, and new design wins continue at a steady pace. In particular, design-in activity for the MXT4400 Traffic Stream Processor is strong, and we are encouraged by the increasing number of equipment vendors using our processor as a platform for developing their own proprietary applications.''
More new and existing customers have chosen the MXT4400 Traffic Stream Processor for new designs calling for programmable high-performance packet and cell processing, including industry leaders Nortel and Hitachi. In addition, several customers are moving into production of new multi-service WAN access products based on Maker's AccessMaker(TM) software. AccessMaker works with the MXT3010 Cell Processor and MXT3020 Circuit Coprocessor to create an integrated solution for interworking between TDM circuit, packet and ATM networks.
This release may contain forward-looking statements that are subject to risks and uncertainties. Factors that could cause actual results to differ materially include, but are not limited to, general business conditions in the networking equipment and semiconductor industries, changes in demand for network equipment products of Maker Communications' customers, the timing and amount or cancellation of orders from Maker Communications' network equipment vendor customers, the gain or loss of significant customers, changes in the mix of products sold by Maker Communications, market acceptance of Maker Communications' current and new products and other risks detailed from time to time in the company's filings with the Securities and Exchange Commission including the company's Prospectus on Form S-1 and Quarterly Reports on Form 10-Q.>>
|
