looks like a sale may be in the works
OPTi Reports Q4 1997 Results
MILPITAS, Calif.--(BUSINESS WIRE)--Feb. 3, 1998--OPTi Inc. (NASDAQ/NMS:OPTI) announced today its fourth quarter financial results for 1997.
Revenues for the quarter ended Dec. 31, 1997 were $13,631,000 as compared with $28,317,000 for the comparable quarter of 1996. Net profit for the fourth quarter of 1997 was $1,391,000 or $0.10 per share, as compared to a net loss of $(373,000), or $(0.03) per share, for the fourth quarter of 1996. Total operating expenses were $5,301,000 for the fourth quarter of 1997 as compared with $7,774,000 for the comparable period of 1996.
Net sales for the fiscal year ended Dec. 31, 1997 were $67,842,000, as compared to $118,725,000 for the comparable period in 1996. Net loss for fiscal year 1997 was $(5,388,000), or $(0.42) per share, as compared to a net loss of $(14,058,000), or $(1.13) per share for 1996.
Number of shares used in per share computation for the three months ended Dec. 31, 1997 and 1996 were 13,652,000 and 12,622,000, respectively. Number of shares used in per share computation were 12,838,000 and 12,443,000 for the fiscal years ended Dec. 31, 1997 and 1996.
Jerry Chang, chairman and CEO stated, "This past fiscal year has been a difficult period for the company as well as many semiconductor companies providing ICs to the personal computer industry. Due to the difficulties that we have been experiencing, the board of directors of OPTi has determined that it will retain the services of an investment banker to advise on the best course of action.
"Such plans are expected to involve finding a purchaser for the company or selling off the operating businesses and assets followed by the distribution of funds to shareholders. We believe that this course of action is best for the company, its employees, and its shareholders." |
