SAN JOSE, Calif., July 27 /PRNewswire/ -- SDL, Inc. (NASDAQ:SDLI) today
announced quarterly revenue and earnings for the quarter ended June 30, 1998.
For the second quarter ended June 30, 1998, SDL reported record revenues
of $25.8 million compared to revenues of $21.6 million in the second quarter
of 1997. This represents a 20 percent increase in revenues over second
quarter 1997. Second quarter 1998 net income was a record $2.9 million or
$0.20 per share on a diluted basis compared to a net loss of $29.5 million or
$2.19 per share on a diluted basis for the second quarter of 1997. Diluted
earnings per share for the second quarter of 1998 were computed based on 14.7
million shares, compared to 13.5 million shares for the second quarter of
1997.
For the six months ended June 30, 1998, SDL reported revenues of $51.2
million and a net income of $5.6 million, or $0.38 per share on a diluted
basis, compared to revenues of $42.6 million and net loss of $29.0 million, or
$2.16 per share on a diluted basis for the first six months of 1997. Diluted
earnings per share for the first six months of 1998 were computed based on
14.6 million shares, compared to 13.4 million shares for the first six months
of 1997.
Commenting on the quarter, Donald Scifres, chairman and chief executive
officer said, "Our second quarter growth represents the successful transition
to and initial yield improvements gained from last year's investments in our
new wafer fab facility and our manufacturing upgrades. The new facilities and
manufacturing upgrades were intended to lower costs and substantially increase
our chip capacity to meet customer demand. It has done both. In the first
half of 1998, for example, we averaged chip yields in our 980 nm laser product
line of more than three times the old line, and our new capacity is over
100,000 chips per year for this product."
Scifres continued, "We are particularly pleased with our performance in
our communications markets where revenues increased by about 20 percent
compared to the first quarter of 1998. Key contributors to this growth were
the strong demand for 980 nm pump modules used in fiber optic communications
and increased satellite communications shipments.
"Going forward we intend to focus on improving yields from our new chip
manufacturing facility and supplying products in volume to meet the expanding
applications for our technology. By targeting major growth markets, including
communications and materials processing, we believe SDL is poised for rapid
expansion," concluded Scifres. |
