Tioga's Q4 sales falls as STMicro assumes control of DSL-chip maker
Semiconductor Business News
(02/19/02 15:13 p.m. EST)
siliconstrategies.com
SAN JOSE -- Tioga Technologies Ltd. here today reported sales of $150,000 for its fourth quarter ended Dec. 31, compared to $7.7 million in the like period a year ago and $500,000 in the previous period.
The supplier of DSL chips and intellectual-property (IP) cores also posted a net loss for the quarter of $1.3 million, or minus $0.05 a share, compared to a deficit of $70.3 million, or minus $3.13 a share a year ago. In the previous period, it reported a loss of $2.1 million, or $0.09, a share.
"2001 was an extremely difficult year," said Douglas Goodyear, president and CEO of Tioga. "As we enter 2002, however, we have a renewed sense of optimism, largely as a result of our recently announced relationship with STMicroelectronics."
The executive was referring to a deal announced last week under which STMicroelectronics Inc. would assume control of Tioga's DSL chip and IP lines. Geneva-based ST also has the option to acquire Tioga (see Feb. 14 story ). |
