OPTi Reports Results for Q1 1999
MILPITAS, Calif.--(BUSINESS WIRE)--April 14, 1999--OPTi Inc.
(Nasdaq/NMS:OPTI) announced results today for its 1999 first quarter.
Net sales for the quarter ended March 31, 1999 were $7,156,000 as
compared with $9,845,000 for the comparable quarter of 1998. Net loss
for the first quarter was ($784,000) or ($0.07) per share, as compared
with a net loss of ($1,830,000), or ($0.14) per share, for the first
quarter of 1998. Total operating expenses were $4,083,000 for the
first quarter of 1999 as compared with $5,361,000 for the first
quarter of 1998.
Bernard Marren, President and CEO stated, "The Company continues
its development of its LCD panel controller chip and has started to
demonstrate the product to potential customers. During the quarter the
Company also continued its efforts to strengthen its cash position. We
also reduced our operating expenses in the quarter ended March 31,
1999 by approximately $800,000 from the fourth quarter of 1998, as we
continue our attempt to remain cash flow neutral." |
