To: DiViT who wrote (34697 ) 7/25/1998 11:39:00 AM From: John Rieman Respond to of 50808
Faroudja. Is this a Transceiver???????????????????????newsalert.com Faroudja, Inc. Announces Second Quarter Results; Digital Format Translator in Production Business Wire - July 23, 1998 16:20 Jump to first matched term SUNNYVALE, Calif.--(BUSINESS WIRE)--July 23, 1998--Faroudja, Inc. (NASDAQ NMS: FDJA) today announced revenues of $3,353,000 and a net loss of $754,000, or $0.06 per share on 12.1 million diluted shares for the second quarter ended June 30, 1998. For the second quarter of 1997, Faroudja posted revenues of $4,279,000 and net income of $285,000 or $0.03 per share on 9.3 million diluted shares. For the six months ended June 30, 1998, Faroudja recorded revenues of $6,711,000 and a net loss of $746,000, or $0.06 per share on 12.1 million diluted shares. For the comparable period last year, the Company reported revenues of $7,864,000 and net income of $534,000, or $0.06 per share on 9.2 million diluted shares. "Sales of products for the home theater market, currently Faroudja's principal revenue source, rebounded substantially from a weak first quarter," noted Robert Sheffield, Vice President-Finance and CFO. "With momentum in the Digital Television (DTV) market building toward the November, 1998 initial roll-out of high-definition (HDTV) broadcasts in the top ten U.S. markets, Faroudja is focused on designing equipment that will help broadcasters transition to DTV more easily and economically. "On both a year-to-year and a sequential comparison, second quarter 1998 revenues and net income were negatively impacted by the absence of major royalty payments. Discussions are ongoing with additional licensees. "Spending in the second quarter was up significantly over the first quarter, as Faroudja focused its development efforts on its line of Digital Format Translators (DFTs). The line provides a range of modular solutions for broadcasters, cable and satellite services seeking to deliver a variety of DTV and HDTV video formats to meet the new digital standards." Michael Moone, President and Chief Executive Officer, commented: "1998 will be a transition year for Faroudja. We are expanding our business from its home theater base into a prominent position in digital broadcasting. We are taking our technologies and utilizing them in the emerging Digital Broadcast and Television Display markets, and in the PC convergence field. Our DFT broadcast products are Faroudja's first step in this new world. A powerful opportunity has been created for the Company by this transition to digital video signals.