C-Cube revenue and earnings estimate for Q3.
These are just my thoughts......................
exchange2000.com
Revenues:
VCD 3.3M units worth between $33M and $36M, depending on product mix.
DVD has run at or below $3M for 3 straight Qs. Finally a pick-up: $5m to $6M
Divicom's sales were about $36M last Q, $41M in Q3.(includes $2M worth of C-Cube encoders that I don't count in Encoder Chips.)
Settops were $9M, and should be close to $12M this Q, with SkyperfecTV ramping up, Canal + always does well in Q3, and the build to the Holiday season.
Encoders were about $4.5M last Q. With the new single chips, ASPs have and will continue to drop. Let's just call it $4.5M in Q3.
Total sales for Q3 = at least $95.5M. Take out $2M for reserves and C-Cube should report over $93.5M, 13% sequential growth. Potential areas that may do better are VCD, DVD, and encoders.
Now to get to EPS:
Revenue $93.5M
COG 42M( 55% gross margins, down from 55.5%)
Gross 51.5M
R&D 19.1M
SG&A 14.5M
op income 17.9M
other .6M
Before tax $18.5M
taxes 5.6M (30%)
Net income $12.9M
Share count......................
exchange2000.com
39.7M shares = $.325 per share. Hit all of the high numbers it could be $.36 EPS, but I don't think so. VCD is uncertain. If you would have ask me last January, I would have expected more than 4M units in Q3.
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