Did anyone catch the Oakt Earnings announcement. In their conference call it was reported that they shipped over 100,000 decoders.
techstocks.com
Oak Technology Announces Second Fiscal Quarter 1997 Results
SUNNYVALE, Calif.--(BUSINESS WIRE)--Jan. 21, 1997-- Oak Technology Inc
, a provider of high-performance multimedia semiconductors and
related software, today reported results for the second fiscal quarter
ending December 31, 1996. The Company reported net sales of $47.6
million, a decrease of 43% over second fiscal quarter 1996 net sales
of $83.7 million. On a sequential basis, the Company's revenues
increased 152% from $18.9 million reported in the September quarter.
Net income of $13.2 million compares to net income of $18.2 million
for the comparable period a year ago. Net income per share of $0.31
compares with net income per share of $0.43 in the second quarter of
fiscal 1996.
Margins for the current quarter were favorably affected by an
adjustment to cost of sales associated with the sale of products that
had been fully reserved in a prior period as well as a manufacturing
cost adjustment related to foundry agreements. Excluding the impact on
cost of sales of these adjustments, gross margin for the quarter would
have been approximately 38% and net income per share would have been
0.09.
"Oak is pleased to report results that we believe indicate we are
transitioning through the difficult market conditions of the
previous quarters and that reinforce our leadership position in the
CD-ROM market," stated David Tsang, president and chief executive
officer of Oak Technology. "In addition, we have continued to
further penetrate the VideoCD market with our MPEG-1 decoder, which is
a first step towards achieving our goal of diversifying the Company's
product and revenue mix," Tsang added. |
