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Politics : Formerly About Applied Materials

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To: StanX Long who wrote (60873)	2/22/2002 12:44:31 AM
From: StanX Long	Read Replies (1) of 70976

Mosaid posts $4.5 million loss as revenues fall 17% from prior quarter Semiconductor Business News (02/21/02 13:17 p.m. EST) siliconstrategies.com OTTAWA -- Mosaid Technologies Inc. reported a 17.1% sequential decline in revenues to $9.2 million in the company's fiscal third quarter, ended Jan. 25, compared to $11.1 million in the prior three-month period. Revenues were 57% below $21.6 million in the fiscal quarter a year ago, said Mosaid. The Canadian company posted a net loss of $4.5 million in the fiscal third quarter vs. a net loss of $19.4 million in the prior fiscal period, which included charges for restructuring. In the fiscal third quarter last year, Mosaid had net earnings of $1.8 million. "Expenses have been reduced across the board," said Richard Boadway, chief financial officer of Mosaid, which supplies network ICs as a fabless chip company as well as memory intellectual property (IP) and test systems. The CFO said cost cuts and other actions "resulted in higher-than-anticipated cash balances despite lower intellectual property licensing revenues."

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