SAGI ($11.75-$14+) Chip Sales Increase by 49% Over Last Quarter
MILPITAS, Calif., Jul 19, 2001 /PRNewswire via COMTEX/ -- Sage, Inc. (Nasdaq: SAGI chart, msgs), a leading supplier of digital display processors, announced today its results for its first fiscal quarter ended June 30, 2001.
Revenues for the three months ended June 30, 2001 were $8.1 million compared to $6.5 million for the three months ended June 30, 2000, and $6.7 million for the preceding three months ended March 31, 2001. Our pro-forma net loss and net loss per share for the three months ended June 30, 2001 were $2.0 million and $0.14, respectively, compared to $0.2 million and $0.02 for the three months ended June 30, 2000, and $1.7 million and $0.12 for the three months ended March 31, 2001. Net loss and net loss per share, for the three months ended June 30, 2001 amounted to $2.7 million and $0.19 respectively, compared to a net loss and net loss per share of $9.1 million and $0.83, respectively, for the three months ended June 30, 2000, and $99.4 million and $7.18, respectively, for the preceding three months ended March 31, 2001. Included in these results for the three months ended June 30, 2001, were non-cash charges amounting to $0.7 million arising principally from the amortization of goodwill.
Chandra Reddy, president and CEO stated, "We are pleased to see resumption in sales growth with a 21% increase in sales compared to last quarter and even more encouragingly an increase in IC revenue of 49% sequentially compared to last quarter. Although the macro-economic outlook may still be uncertain we have seen some positive trends emerging this quarter. Shipments of flat panel monitors continue to show strong growth prospects in the face of declining monitor prices and increased demand. Orders from our traditional Japanese digital interface customers have resumed following inventory reductions last quarter. More importantly we have started shipments of our new integrated analog and digital interface products, and we have seen continuing growth in shipments of our consumer market chips. We believe we will be well positioned for continuing growth in the coming quarters with significant opportunity in the integrated analog and dual monitor markets, and emerging digital TV and progressive scan DVD markets."
About Sage
Headquartered in Milpitas, Calif., Sage Inc. is a leading provider of digital display processors, enabling superior picture quality for a variety of consumer technology and PC-display products ranging from web appliances to TVs and flat panel monitors. Leveraging Emmy-award winning Faroudja technology from its acquisition of Faroudja Inc., Sage is developing products that bring the home theater experience to the mass consumer and PC-display market through digitally enhanced television, projection displays, DVD players and internet appliances. The Company's systems-on-a-chip technology provides highly integrated mixed signal and system functionality with higher picture quality than lower-quality processors at a similar component cost. Sage's display processors, which include Faroudja digital video processors, are used by world-renowned consumer electronics manufacturers such as Compaq, Fujitsu, Hyundai, InFocus, LG, NEC, Philips, Samsung, Sanyo, Sony and Toshiba. More information about Sage can be found on its web site at www.sageinc.com; the Company may be contacted directly at 408-519-6500. Sage's fourth fiscal quarter conference call is scheduled for July 19, 2001 at 14:00 hrs PDT. Investors are invited to listen to the call live via the webcast available through Sage's investor relations web site at www.sageinc.com or dial in for the call to 800-982-3654 at least five minutes prior to the start time.
Sage is a publicly traded company located in Milpitas, CA and can be reached at 408-383-5300 (Phone), 408-383-5310 (Fax) or through its web site at www.sageinc.com. |
