To: Jenna who wrote (22031 ) 1/14/1999 1:03:00 PM From: Northern Cougar Respond to of 120523
Hi Jenna-- COGIF breaking out to new highs---no resistance in sight. ALSO >>Check out the earnings on ATI technology ATYTF or TSE:ATY . This is big winner going forward still undiscovered by many money managers. Thursday January 14, 7:54 am Eastern Time FULL TEXT-ATI Technologies Q1 results (Full text of press release from Canadian Corporate News) JANUARY 14, 1999 ATI Technologies Inc. Posts Record First Quarter Results Listed On Nasdaq, Now Reporting In US Dollars TORONTO, ONTARIO-- - Company achieves US$327 million or Cdn$503 million in sales - Earnings per Share sets pace at US 23 cents or Cdn 36 cents ATI Technologies Inc. a world leader in 3D graphics/video acceleration and multimedia solutions, today announced record results for the Company's first quarter ended November 30, 1998. Starting in fiscal 1999 the Company is now reporting its financial results in US dollars. Sales for the first three months were US$327.4 million (Cdn$502.6 million), an increase of 95 percent from US$167.8 million (Cdn$263.4 million) for the same period last year. Adjusted net income for the first quarter, which excludes the amortization of purchased in-process R&D and other acquired intangibles as discussed below, rose 112 percent to US$52.0 million (Cdn$79.9 million) or 24 cents US per share (37 cents Cdn per share) compared with US$24.5 million (Cdn$38.5 million) or 12 cents US per share (18 cents Cdn per share) for the same period last year. (All per share amounts are expressed on a fully diluted basis). Just prior to the end of the first quarter, ATI completed the acquisition of Chromatic Research, Inc. (Chromatic) a developer of system-on-a-chip technology for approximately US$70.9 million, including acquisition related costs. As a result, the Company took a charge of US$1.9 million (Cdn$3.0 million) or one cent US per share (one cent Cdn per share) on an after-tax basis for the amortization of purchased in-process R&D and other acquired intangibles related to its purchase of Chromatic during the first quarter. The prospective charge for the amortization of purchased in-process R&D will be approximately US$16.0 million or 7.5 cents US per share for each of the next three quarters. Actual net income for the first quarter, including the above-mentioned amortization of purchased in-process R&D and other acquired intangibles, was US$50.1 million (Cdn$76.9 million) or 23 cents US per share (36 cents Cdn per share), compared with US$24.5 million (Cdn$38.5 million) or 12 cents US per share (18 cents Cdn per share) for the same period last year. ''Our first quarter results reflect the breadth and strength of our multiple product line-up'', said K.Y. Ho, ATI's president and CEO. ''ATI has built up tremendous momentum in its entire graphics and multimedia market segments.'' Financial Highlights Sales in the first quarter were the strongest recorded by ATI. The Company experienced record demand in North America, Europe and the Far East for the company's RAGE PRO family of products, especially its RAGE PRO TURBO and RAGE IIC boards. Gross margins were consistent at 36.6 percent for the first quarter compared with 36.4 percent in the same quarter last year. The overall gross margin percentage can change with fluctuating material costs and differences in product mix. In-line with increased activity and sales, operating costs (including amortization of intangibles) in the first quarter increased 102 percent year-over-year to US$52.9 million up from US$26.2 million for the first quarter in 1998. Total dollar operating costs increased as a result of strong sales volumes, added R&D and marketing programs, new product introductions and further development of concurrent design teams. Earnings after taxes rose to US$50.1 million or 15.3 percent of sales versus US$24.5 million or 14.6 percent of sales for the corresponding quarter of 1998. full text>> biz.yahoo.com Regards. N.C. PS is VRIO about to rebound from $26???