Lexar Announces Preliminary Fourth Quarter Financial Results
Tuesday January 25, 5:00 pm ET
FREMONT, Calif.--(BUSINESS WIRE)--Jan. 25, 2005--Lexar Media, Inc. (Nasdaq:LEXR - News), a leading marketer and manufacturer of high-performance digital media and accessories, today announced preliminary results for the fourth quarter ended December 31, 2004.
Fourth quarter net revenues are expected to be in a range of approximately $255 to $260 million, compared with $177.5 million in net revenues for the same period last year and $165.2 million for the third quarter of 2004. The company further expects to report a net loss in the range of $34 to $38 million or $0.44 to $0.48 per share, as compared to net income of $18.9 million or $0.21 per diluted share in the same period last year and a net loss of $3.5 million or $0.04 per share in the third quarter of 2004.
"Despite better than expected demand and sales of Lexar products during the holiday season, gross margins were negatively impacted primarily due to greater than anticipated price reductions and price protection obligations. Higher than anticipated marketing and G&A expenses also had a slight negative impact," said Eric Stang, chairman, CEO and president, Lexar.
These expected results are based on preliminary information. The company plans to release quarterly financial results for the fourth fiscal quarter and full year on Thursday, February 3, 2005, and discuss its financial and operational results and business outlook during its regularly scheduled conference call at 2 p.m. that same day after the market close. |
