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Technology Stocks : WDC/Sandisk Corporation -- Ignore unavailable to you. Want to Upgrade?

To: puborectalis who wrote (15560)	10/13/2000 1:17:05 AM
From: puborectalis	Respond to of 60323

Silicon Storage Technology Inc. The Sunnyvale, Calif.-based data storage provider reported third-quarter net income of 37 cents a share Thursday, beating Wall Street expectations by a penny, driven by continued strong demand in the growing sector. For the quarter ended Sept. 30, Silicon Storage (SSTI: Research, Estimates) reported net income of $36.3 million compared with net income of $448,000, in the year-earlier quarter. The company beat analysts' consensus forecast of 36 cents a share and far exceeded the one cent a share it posted in the year-earlier quarter. Revenue for the quarter increased 59 percent to $163.7 million from $103.2 million in the year-ago quarter. Chief Executive Bing Yeh attributed the positive earnings to plant improvements that allowed for greater productivity and growing demand for the company's data storage products. Unit shipments increased 26 percent from the second quarter, as manufacturers of set-top boxes, digital TV's, writeable compact disc drives, DVD players, digital cameras and MP3 players, as well as a host of other devices that use memory ordered more product. However, Yeh cautioned that demand would likely outstrip the company's ability to supply for at least the next three quarters. Shares of Silicon Storage closed up $2.38 to $22.44.