OPTi Reports Q2 2001 Results
MILPITAS, Calif.--(BUSINESS WIRE)--July 23, 2001--OPTi Inc. (Nasdaq:OPTI - news) today announced its second quarter financial results for 2001.
Revenues for the quarter ended June 30, 2001 were $1,665,000 as compared with $3,324,000 for the comparable quarter of 2000. Net income for the second quarter of 2001 was $47,000 or $0.00 per share, as compared to a net loss of $(2,487,000), or $(0.21) per share, for the second quarter of 2000. Total operating expenses were $1,086,000 for the second quarter of 2001 as compared to $4,026,000 for the second quarter of 2000.
Net sales for the first six months of 2001 were $3,772,000, as compared to $18,678,000 for the comparable period in 2000. Net sales for the six months ended June 30, 2000 included net license revenues of $13,311,000 resulting from a one-time non-exclusive licensing fee for certain OPTi patents. Net income for the first six months of 2001 was $491,000, or $0.04 per share, as compared to net income of $10,089,000, or $0.87 per share in the first six months of 2000. Shares used in computing basic and diluted per share amounts for the three months ended June 30, 2001 and 2000 were 11,634,000 and 11,646,000, respectively. Six month basic and diluted share amounts at June 30, 2001 were 11,641,000 and 11,644,000, respectively. Six month basic and diluted share amounts at June 30, 2000 were 11,637,000 and 11,653,000, respectively.
Bernard Marren, President and CEO of OPTi stated, ``With respect to our future plans, we are looking into all strategic alternatives for the company at this time. Our goal, as always, is to make every effort to maximize shareholder value. Unfortunately, we are unable to elaborate further in regards to the details of the alternatives at this moment. We are hopeful that we can announce something further in regards to this matter by late August.'' |
