C-Cube Reports Fourth Quarter and Fiscal 2000 Results
C-Cube Ships Over 6 Million DVD Units During 2000
c-cube.com
Milpitas, Calif. - January 23, 2001 - C-Cube Microsystems (Nasdaq:CUBE) today announced results for the fourth quarter and fiscal 2000. Revenues for the quarter totaled $74.0 million compared with $64.0 million for Q4 99 and $69.0 million for Q3 00. Total revenues for 2000 reached $265.0 million compared with $222.1 million for 1999. Net income for the fourth quarter was $8.3 million, or $0.16 per diluted share compared with $10.4 million or $0.19 per diluted share for Q3 00.
"During 2000, we increased our market share in both of our expansion platforms, DVD and set-top box by more than doubling unit shipments in each platform, said Umesh Padval, president and CEO of C-Cube. "With the introduction of eight new products and an expanding customer base, we are well positioned to take advantage of our growth markets as and when macroeconomic conditions improve.'' *
During 2000, C-Cube took advantage of the exploding consumer DVD market, experiencing well over 100% growth in number of units shipped over 1999. With an estimated 18 million units shipped worldwide during 2000, C-Cube estimates that it increased its market share to above 30%.
C-Cube's set-top box solution also realized substantial unit growth in 2000. During the year, we expanded our presence from European customers to U.S. cable customers with important design wins at Sony for U.S. cable and Motorola for their European deployment.
Earlier this month at CES, C-Cube unveiled the C-Cube DoMiNoTM Network Media Processor architecture, a highly integrated, flexible and powerful system-on-chip architecture combining audio-video (AV) processing with network connectivity. This architecture will enable C-Cube and its customers to expand into emerging markets such as DVD recorders, personal video recorders (PVRs), interactive digital set-top boxes, home media gateways and home media servers. A demonstration can be viewed on our web site at www.c-cube.com.
Earnings Conference Call
C-Cube has scheduled a conference call for today at 4:30 EST to discuss the results of the fourth quarter and year-end results. To listen to the call, please visit www.c-cube.com for the live audio web cast or dial 212-346-0248 (no passcode) at least 5 minutes prior to the call. The call will be available to replay for 48 hours following its completion by dialing 1-800-633-8284 (passcode: 17539676).
About C-Cube Microsystems
The company is a worldwide leader in digital media processing and is leading the way with new communication processors and networked consumer products. With a focus on DVD, set-top boxes and codec enabled products, C-Cube is driving the technology for the "networked digital home."
C-Cube is headquartered in Milpitas, California and has offices in North America, Europe, and Asia. For more information please visit our web site at www.c-cube.com. C-Cube, the C-Cube logo are registered trademarks of C-Cube Microsystems, Inc. All other trademarks or registered trademarks are the property of their respective owners.
* This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The forward-looking statements involve risk and uncertainties. Actual results could differ materially from those projected in the forward-looking statements as a result of the risk factors set forth in the Company's Forms 10-K and 10-Q reports and in C-Cube Semiconductor Inc.'s Registration Statement on Form S-1. The Company has attempted to identify forward-looking statements in this press release by placing an asterisk (*) following each sentence containing such statements The Company assumes no obligation to update any forward-looking statements |
