OPTi Reports Q4 2000 Results
MILPITAS, Calif.--(BUSINESS WIRE)--Feb. 13, 2001--OPTi Inc. (Nasdaq:OPTI - news) announced today its fourth quarter financial results for 2000.
Revenues for the quarter ended December 31, 2000 were $2,105,000 as compared with $2,884,000 for the comparable quarter of 1999. Net income for the fourth quarter of 2000 was $65,000 or $0.01 per share, as compared to a net loss of $(1,312,000), or $(0.11) per share, for the fourth quarter of 1999. Total operating expenses were $906,000 for the fourth quarter of 2000 as compared to $3,136,000 for the fourth quarter of 1999.
Net sales for the fiscal year ended December 31, 2000, including $13,311,000 from a one-time fully paid license, were $23,198,000, as compared to $22,257,000 for the comparable period in 1999. Net income in fiscal year 2000 was $11,044,000, or $0.95 per basic and diluted share, as compared to a net loss of $(6,011,000), or $(0.54) per basic and diluted share in fiscal year 1999. Shares used in computing basic and diluted per share amounts for the three months ended December 31, 2000 were 11,655,000 and 11,695,000, respectively. Shares used in computing basic and diluted share amounts for the three months ending December 31, 1999 were 11,536,000. Twelve month basic and diluted share amounts for 2000 were 11,644,000 and 11,653,000, respectively. Twelve month basic and diluted share amounts for 1999 were 11,059,000.
Bernard Marren, CEO and President of OPTi, stated, ``We believe that during the past twelve months the company was able to make significant strides in several areas. We signed a licensing agreement related to certain patents, which validated the research and development efforts that the company had invested in. The company was able to settle its patent litigation with Cirrus Logic, Inc. thus allowing us to focus on our operations. In addition, Tripath Technologies, Inc., a company in which OPTi holds stock, went public during the past year. The fair value of our holdings in this company at December 31, 2000 is reflected in our balance sheet. Operationally, we believe that we have made strides in reestablishing ourselves in the peripheral marketplace in the Far East. We have been selling our existing USB controller for a the past three years and now have our four port USB controller out in the marketplace with other new products expected to be sampling within the next several quarters.'' |
