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Technology Stocks : 3DFX -- Ignore unavailable to you. Want to Upgrade?

To: Bob Howarth who wrote (8246)	10/15/1998 4:25:00 PM
From: Curbstone	Read Replies (3) \| Respond to of 16960

3Dfx Interactive Announces 3rd Quarter 1998 Financial Results October 15, 1998 04:13 PM SAN JOSE, Calif., Oct. 15 /PRNewswire/ -- 3Dfx Interactive, Inc. TDFX released today financial results for the third quarter of 1998, which ended on September 30, 1998. Revenues for the third quarter were $33,206,000, an increase from total revenues of $10,018,000 for the third quarter of fiscal 1997. Net income for the third quarter was $3,118,000, or $.20 per diluted share when 15,819,000 shares were used in the per diluted share calculation. This compares with a net loss of $872,000 or $.07 per diluted share in the third quarter of fiscal 1997 when 12,454,000 shares were used in the per diluted share calculation. Included in the statement of operations for the quarter ended September 30, 1998 is a one-time recognition of income as a result of the recent Sega litigation settlement, partially offset by an increase in inventory reserves due to an exceptionally rapid rate of product lifecycle obsolescence combined with the previously announced greater than expected seasonal slowdown in the retail channel. Revenues for the first nine months of 1998 were $141,858,000 as compared to $21,772,000 for the first nine months of 1997. Net income for the first nine months of 1998 was $19,613,000 or $1.22 per diluted share as compared to a net loss of $3,787,000 or $.37 per diluted share for the same period in 1997. Shares used in the diluted per share calculation were 16,024,000 and 10,169,000 respectively, for the first nine months of 1998 and 1997.