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Technology Stocks : Neomagic Corp. (NMGC)

NMGC 0.0158

+58.0%

Jan 14 11:22 AM EST

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To: michael katz who wrote (2062)	11/5/1998 7:41:00 PM
From: SIer formerly known as Joe B.	Read Replies (2) of 3645

cbs.marketwatch.com NeoMagic beats estimates By Binti Harvey, CBS MarketWatch Last Update: 6:28 PM ET Nov 5, 1998 Software Report NeoMagic (NMGC) stock may rise Friday on news that its third-quarter earnings beat analysts' estimates. After the market closed Thursday, NeoMagic reported earnings of $8.6 million, or 33 cents per share, vs. the First Call consensus estimate of 29 cents per share. A year ago, the chip maker reported earnings of $6.5 million, or 25 cents per share, under a lower tax rate of 15 percent. NeoMagic said its net sales for the quarter reached $67.4 million, an 81 percent increase from $37.1 million a year ago. The company attributed the growth in revenue and earnings to the "proliferation of our multimedia accelerators into multiple product lines at major PC manufacturers." Shares rose 3/8 to 18 1/2, ahead of the news.

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