1/15/98 Silicon Storage Technology Posts 4th-Quarter Loss,
Misses Targe
NEW YORK -(Dow Jones)- Silicon Storage Technology Inc. late
Thursday posted results for the fourth quarter which fell shy of
analysts' estimates.
After U.S. markets closed, the maker of computer-memory
products posted a net loss of $3.8 million, or 16 cents a share,
for the period ended Dec. 31, compared with a profit of
$737,000, or three cents a share, in the year-ago quarter.
Results in the latest period were weighed down by costs for
ongoing legal actions. Without those costs, the company said its
loss would have been about three cents a share. But First Call
was expecting the company to post a profit of a penny a share,
excluding legal costs.
Revenue fell 14% from a year ago to $20.2 million.
Orders for the company's 2-Mbit product dropped in the fourth
quarter, Silicon Storage said, but orders for its 1Mbit and
4Mbit products grew.
Despite its weaker-than-expected results, Silicon Storage
Technology expressed optimistic about the flash market and said
it will focus on developing products for the nonvolatile memory
market. |
