MILPITAS, Calif.--(BUSINESS WIRE)--Oct. 16, 1997--OPTi Inc.
(NASDAQ/NMS:OPTI) announced today its second quarter financial
results for 1997.
Revenues for the quarter ended Sept. 30, 1997 were $15,196,000
as compared with $27,908,000 for the comparable quarter of 1996. Net
loss for the third quarter of 1997 was $(2,103,000) or $(0.16) per
share, as compared to a net loss of $(2,324,000), or $(0.19) per
share, for the third quarter of 1996. Total operating expenses were
$6,724,000 for the third quarter of 1997 as compared with $7,797,000
for the comparable period of 1996.
Net sales for the first nine months of 1997 were $54,211,000, as
compared to $90,408,000 for the comparable period in 1996. Net loss
for the first nine months of 1997 was $(6,779,000), or $(0.53) per
share, as compared to a net loss of $(13,685,000), or $(1.10) per
share for the first nine months of 1996.
Weighted average common and common equivalent shares outstanding
for the three months ended Sept. 30, 1997 and 1996 were 12,851,000
and 12,545,000, respectively. Nine month weighted average common and
common equivalent shares outstanding at Sept. 30, 1997 and 1996 were
12,762,000 and 12,399,000, respectively.
Jerry Chang, Chairman and CEO stated, "As we had anticipated for
the third quarter of 1997, net sales remained relatively flat as
compared with the second quarter of this year as the softness in the
audio controller market continued.
"Demand for the company's mobile core logic products continued to
be stable during the quarter in comparison to prior quarters, while
design activities for the mobile products have increased. In
addition, we believe that we will continue to decrease the operating
losses of the Company this upcoming quarter."
Stephen Dukker, President of OPTi added, "The organizational
changes that the company completed at the end of the second quarter
helped reduce operating expenses by approximately 10% during the
third quarter from the natural second quarter runrate.
"We believe that operating expenses will continue to decrease
this upcoming quarter as we continue to adjust expenses to be in line
with anticipated revenue levels. The company continues to focus on
all aspects of the business as it looks for ways to increase
shareholder value."
MILPITAS, Calif.--(BUSINESS WIRE)--Oct. 16, 1997--OPTi Inc.
(NASDAQ/NMS:OPTI) announced today its second quarter financial
results for 1997.
Revenues for the quarter ended Sept. 30, 1997 were $15,196,000
as compared with $27,908,000 for the comparable quarter of 1996. Net
loss for the third quarter of 1997 was $(2,103,000) or $(0.16) per
share, as compared to a net loss of $(2,324,000), or $(0.19) per
share, for the third quarter of 1996. Total operating expenses were
$6,724,000 for the third quarter of 1997 as compared with $7,797,000
for the comparable period of 1996.
Net sales for the first nine months of 1997 were $54,211,000, as
compared to $90,408,000 for the comparable period in 1996. Net loss
for the first nine months of 1997 was $(6,779,000), or $(0.53) per
share, as compared to a net loss of $(13,685,000), or $(1.10) per
share for the first nine months of 1996.
Weighted average common and common equivalent shares outstanding
for the three months ended Sept. 30, 1997 and 1996 were 12,851,000
and 12,545,000, respectively. Nine month weighted average common and
common equivalent shares outstanding at Sept. 30, 1997 and 1996 were
12,762,000 and 12,399,000, respectively.
Jerry Chang, Chairman and CEO stated, "As we had anticipated for
the third quarter of 1997, net sales remained relatively flat as
compared with the second quarter of this year as the softness in the
audio controller market continued.
"Demand for the company's mobile core logic products continued to
be stable during the quarter in comparison to prior quarters, while
design activities for the mobile products have increased. In
addition, we believe that we will continue to decrease the operating
losses of the Company this upcoming quarter."
Stephen Dukker, President of OPTi added, "The organizational
changes that the company completed at the end of the second quarter
helped reduce operating expenses by approximately 10% during the
third quarter from the natural second quarter runrate.
"We believe that operating expenses will continue to decrease
this upcoming quarter as we continue to adjust expenses to be in line
with anticipated revenue levels. The company continues to focus on
all aspects of the business as it looks for ways to increase
shareholder value."
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