thom & thread: V3 results have been released -- and they are fantastic, much better than I expected. There seems to be no question that the company is on track for a major earnings breakout next quarter -- as ceo predicted last quarter. M2
biz.yahoo.com
Friday November 12, 10:29 am Eastern Time
Company Press Release
V3 Semiconductor Announced Today Unaudited Fourth Quarter and Fiscal Year Results for 1999
SANTA CLARA, Calif./TORONTO--(BUSINESS WIRE)--Nov. 12, 1999-- V3 Semiconductor (NASDAQ:VVVI - news) announced today unaudited fourth quarter and fiscal year results for 1999. The results for the fourth quarter and fiscal year 1999 are as follows:
Quarter Ending Quarter Ending
Sept. 30, 1999 Sept. 30, 1998
(unaudited) (unaudited)
Revenue $2,228,246 $1,230,962
Net income $83,773 ($129,399)
No. shares outstanding 5,743,664 5,471,628
Basic earnings per share $0.01 ($0.02)
Twelve Months Ending Twelve Months Ending
Sept. 30, 1999 Sept. 30, 1998
(unaudited) (unaudited)
Revenue $7,043,353 $4,022,161
Net income $230,480 $167,193
No. shares outstanding 5,743,664 5,471,628
Basic earnings per share $0.04 $0.03
Revenues for the fourth quarter of 1999 were $2,228,246, representing an increase of 81% compared to revenues of $1,230,962 for the fourth quarter of 1998 and an increase of 34% compared to revenues of $1,663,372 during the third quarter of 1999. During 1999 revenues increased by 75% to $7,043,353 compared to $4,022,161 for 1998. Net income increased by 38% to $230,480 during 1999, from $167,193 during 1998.
The Company is required to file its audited financial statements on Form 10K, for the year ended September 30, 1999, on or before December 31, 1999, as required by the Securities and Exchange Commission. Actual audited results may materially differ from the results presented herein. The Company's auditors, KPMG, are scheduled to begin their audit of the Company during the week of November 15, 1999 and the Company anticipates releasing its audited financial statements for the period ended September 30, 1999 as soon thereafter as possible.
V3 SEMICONDUCTOR CORP., the Embedded Intelligence Company, is a manufacturer of integrated circuits for the embedded systems market. V3 Semiconductors clients include: ATI Technologies Inc., Cisco Systems, Data General Corporation, Eastman Kodak Company, Hewlett Packard Company, Hitachi America Ltd., Intel Corporation, International Business Machines (IBM), Lucent Technologies, Nortel Networks, Matsushita Corporation (Panasonic), Samsung Telecommunications, Toshiba Corporation, Xerox Corporation and other large corporations. To contact us please call V3 Semiconductor at 1-800-488-8410 or visit our Internet Web site at vcubed.com for current product information and ongoing announcements.
V3 Semiconductor Corporation 250 Consumers Road, Suite 901, Toronto, ON, Canada M2J 4V6 Phone: (416) 497-8884 Fax: (416) 497-1160 Toll Free: (800) 488-8410 (Canada and US) World Wide Web: www.vcubed.com
1999 V3 Semiconductor, Corp. is a registered trademark of V3 Semiconductor. Any other names mentioned herein are the property of their respective owners.
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Contact:
V3 Semiconductor Corporation
Ann McMichael, Corporate Communications Manager
Telephone: (416) 497-8884 Ext. 224
Email: ann@vcubed.com |
