Opti, a maker of multimedia chipsets, may be placed on sale............
A service of Semiconductor Business News, CMP Media Inc.
Story posted at 9 a.m. EST/6 a.m. PST, 2/3/98
Opti might be up for sale after difficult year
MILPITAS, Calif.--Opti Inc. here today announced it has retained an
investment banker to help it either to sell off some of its businesses or find a
company interested in buying the multimedia chip set supplier.
"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," said Jerry Chang, chairman and CEO of Opti. "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."
In the quarter ended Dec. 31, Opti today reported revenues of $13.6 million
compared to $28.3 million in the same quarter during 1996. Opti's net profit
for the fourth quarter was $1.4 million compared to a net loss of $373,000 a
year ago.
For 1997, Opti reported sales of $67.8 million and a net loss of $5.4 million
compared to revenues of $118.7 million and a loss of $14.1 million in 1996. |
