Alliance Semiconductor Estimates Higher Than Expected Operating Results
SANTA CLARA, Calif.--(BUSINESS WIRE)--June 26, 2000--Alliance Semiconductor Corporation (Nasdaq:ALSC - news) today announced that net sales and earnings for the first fiscal quarter, ending July 1, 2000 are currently expected to be higher than prior expectations.
Alliance currently expects to report record first quarter sales of $44 million to $46 million. This would represent a sequential increase of approximately 53% - 60% from the fiscal fourth quarter sales of $28.8 million, and a 335%-355% increase from the year-ago fiscal first quarter sales of $10.1 million. Alliance also currently expects to report fully-diluted earnings per share of $0.10 to $0.13 for the fiscal first quarter based on the results of operations, and excluding gains from sales of marketable securities and other non-operating items.
According to N.D. Reddy, President and CEO, ``Booking activity is very strong, with total backlog now exceeding $100 million. The average selling prices for SRAMs and DRAMs are higher than in the prior quarter and some product lead times now exceed three months.'' Mr. Reddy continued, ``Sales for the year may now be expected to exceed $200 million, which would be more than double our sales in fiscal 2000.''
Alliance expects to report its fiscal first quarter earnings on July 20, 2000 at the close of market.
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