VRTA( $12 -$14) EPS -$3 loss of 15c meets lowered ests
Its First Quarter Fiscal 2002 Results
SANTA CLARA, Calif.--(BUSINESS WIRE)--July 25, 2001--Virata® Corporation (Nasdaq:VRTA - news) today reported results for its first quarter fiscal 2002 ended July 1, 2001. Revenues for the first quarter were $20.3 million, an increase of five percent over revenues of $19.4 million for the fourth fiscal quarter of 2001 and a 27 percent reduction compared with net revenues for the first fiscal quarter of 2001. The as-adjusted loss per share of 15 cents compares with an as-adjusted loss of 23 cents in the prior quarter and an as-adjusted profit of 2 cents in the corresponding quarter last year.
``Industry analysts project that global DSL installs will more than double this year based on continuing strong consumer demand for broadband services,'' said Charles Cotton, CEO of Virata. ``While there is always the potential for swings in channel inventories in a fast-growing market, we believe the brunt of the correction is now behind us. Virata is well-positioned in key growth markets including China, Germany, Japan and Taiwan.''
Quarter Highlights
Virata announced the release of an 802.11b reference design for manufacturers of wireless devices, such as wireless access points, and wireless-to-Ethernet or wireless-to-broadband routers.
Virata also announced the world's first turnkey multi-platform embedded UPnP software solution which the company believes will bring everyday home appliances and consumer electronics products to life as it enables them to intelligently communicate with each other and with the outside world through a UPnP-powered residential gateway.
Virata integrated key security software into release 8.0 of its ISOS platform meaning customers will be able to quickly add security features with minimal cost and development time.
Zhone Technologies has licensed Virata's vCore DSP software, which includes signaling, fax relay, voice processing and voice compression algorithms and protocols, making Virata the sole provider of critical DSP software for all of Zhone's existing and future converged network products.
At the Supercomm show in Atlanta, Virata announced and demonstrated that it was the first vendor to integrate the DSL Forum's recently ratified TR-37 auto-configuration guidelines into a technology platform.
Virata's Aluminum 200 shdsl chipset successfully achieved interoperability with other suppliers of this new symmetric DSL technology.
Financial Results Detailed |
