DB & thread -- FYI (courtesy of GNSSF thread; posted 1/9):
By SCOTT ADAMS
Dow Jones Newswires
TORONTO -- Genesis Microchip Inc. (GNSSF) shares are rising as the company
ships chips for digital
video disk players, a new market for Genesis, an analyst said.
First Marathon Securities Ltd. analyst Jane Dragone said Genesis has started shipping
chips to one of the top
three Japanese DVD manufacturers. Genesis can't yet disclose the name of the
customer, she said.
Genesis' stock has been extremely hot lately because it has a controlling share of the
market for graphics
chips for flat-panel computer display monitors. "People have been playing it for flat
panel, but we have
another leg to the story which could be DVD," Dragone said.
The Markham, Ont.-based company did mention in its last quarterly conference call
with investors that it was
working on the chips for DVD players.
The stock is up 3 1/8 to 28 3/4 on Nasdaq Friday, above its previous 52-week high of
26 1/8.
Responding to questions about chip shipments to a digital video disk manufacturer,
Genesis Microchip Inc.
(GNSSF) chairman and chief executive Paul Russo said there's nothing new to report.
Russo said the company told investors during its last quarterly conference call, in
mid-December, that it had
begun DVD commercial shipments. The volumes of such shipments aren't expected to
be significant to
revenues until later this year, he said.
Russo attributed Genesis' stock price rise to investor interest in technology growth
stories and the growth of
the flat-panel computer display market.
Also, DVD technologies are attracting much interest at the Consumer Electronics Show
in Las Vegas, which
is on now. "It could be just a bit of a connection that way," Russo said.
Regards, M2 |
