Friday, October 7, 2005
Graphics chip and board supplier ATI Technologies Inc. posted a loss of $104 million, or 41 cents per share on sales of $470 million in its fourth fiscal 2005 quarter ended Aug. 29, compared with a net loss of $0.4 million on sales of $530 million the previous quarter.
During the quarter, ATI (Markham, Ontario) took a $67 million inventory writedown charge. Excluding the charge, ATI posted a pro-forma loss of $29 million, or 12 cents per share.
ATI reported that PC revenue fell 18 percent to $377 million, due mostly to lower sales of performance and enthusiast desktop products.
For fiscal 2005, ATI reported net earnings of $17 million, or 7 cents per share on sales of $2.22 billion, compared with earnings of $205 million, or 80 cents per share on sales of $1.99 billion the year before.
For the first fiscal 2006 quarter, ATI expects sales to increase sequentially by 15 percent due to growth in desktop discrete, chipset and handheld businesses. Gross margin is expected to reach 29 percent.
By: DocMemory
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