OPTi Reports Q1 2001 Results
MILPITAS, Calif.--(BUSINESS WIRE)--April 26, 2001--OPTi Inc. (Nasdaq:OPTI - news) announced today its first quarter financial results for 2001.
Revenues for the quarter ended March 31, 2001 were $2,117,000 as compared with $15,354,000, including a one-time license fee of $13,311,000, for the comparable quarter of 2000. Net income for the first quarter of 2001 was $444,000 or $0.04 per share, as compared to net income of $12,576,000, or $1.08 per share, for the first quarter of 2000. Total operating expenses were $937,000 for the quarter ended March 31, 2001 as compared to $1,629,000 for the first quarter of 2000.
Shares used in computing basic and diluted per share amounts for the three months ended March 31, 2001 were 11,647,000 and 11,654,000, respectively. Shares used in computing basic and diluted share amounts for the three months ending March 31, 2000 were 11,628,000 and 11,644,000, respectively.
Bernard Marren, CEO and President of OPTi, stated, ``First quarter 2001 revenue and operating results were as we had anticipated for the quarter. During the quarter we were able to increase the revenue of our peripheral products to offset the reduction in revenue from our core logic business. Gross margin for the quarter improved from the fourth quarter of 2000 due to product mix and reduced costs for assembly and testing of our products. We remain focused on operating costs as we continue to develop our new products.'' |
