Tuesday, September 30, 2003
DPAC Technologies reported a net loss of $1.1 million on sales of $4.4 million in the second fiscal quarter of fiscal year 2004, ended August 31, 2003, the company said.
First quarter revenue was $5.2 million with a net loss of $900,000. For the six-months ended August 31, 2003, revenue was $9.6 million, a 58 percent decrease from revenue of $22.8 million for the same period last year. The loss for the six months was $2.0 million as compared with income of $3.1 million, for the same period in fiscal 2003.
The company said the decrease in revenue for the quarter is primarily due to a reduction in the LP-Stack business as the industry shifts from SDRAM to DDR. The company added that its latest development of the DuraStack process is intended to address both the industry shift to DDR memory and the increasing competition in the stacking market with an advanced stacking technology.
"Our plan today is for DuraStack to start limited production this quarter. Then in fourth fiscal quarter, we would start broader customer support with an aggressive ramp of the technology in the first and second quarters of next year. We continue to evaluate potential acceleration of this schedule which is a key factor, along with our new wireless product, to reversing our revenue and profitability performance," said the company CEO.
By: DocMemory
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