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To: John Rieman who wrote (28296)	1/20/1998 3:25:00 PM
From: BillyG	Respond to of 50808

8x8 -- Hello revenues, goodbye CEO................ A service of Semiconductor Business News, CMP Media Inc. Story posted at 7:30 a.m. EST/4:30 a.m. PST, 1/19/98 8x8 reports surge in sales, but CEO Parkinson resigns SANTA CLARA, Calif.-- Silicon Valley's 8x8 Inc. here reported revenues surged to $15.1 million in its third fiscal quarter, ended Dec. 31, and it recorded a net income of $132,000 compared to a loss of $1.6 million in the same period a year ago. Separately, the fast-growing supplier of video conferencing chip technology and systems announced that Joe Parkinson had resigned as 8x8's chairman, CEO and director. Parkinson had headed up the company since the summer of 1995, when he joined the struggling processor supplier after abruptly leaving Micron Technology Inc. as chairman and CEO. Parkinson helped to refocus 8x8--previously called Integrated Information Technology Inc.--and focused it on Discrete Cosine Transform (DCT) compression and decompression technology for video applications. Replacing Parkinson as chairman and CEO is Paul Voois, who has been 8x8's executive vice president. The company said Parkinson will remain with the Company in a temporary consulting role to assist with the transition. The company's performance appears to be improving with a number of major design wins in Europe and Japan. In December, 8x8 announced it was participating with Siemens AG and Deutsche Telekom in Germany to produce and supply low-cost videophone systems for ISDN telephone lines (see Dec. 5 story). Last week, the company disclosed that its Video Communications Processor (VCP) was being used in a new low-cost videophone introduced in Japan by Nippon Telegraph and Telephone Corp. (see Jan. 15 story). As a result, 8x8's revenues were up sharply from the $4.6 million recorded in the third fiscal quarter a year ago and its net loss of $1.6 million. About 41% of 8x8's $15.1 million revenues came from chip sales, 40% from video systems, and 19% from non-recurring license, royalty and other revenues. [If you deduct the licensing revenues, which are almost 100% profit, then 8x8 would have a net loss.....]