Product category:
Communications ICs (Wired)
News Release from: Zarlink Semiconductor
Edited by the Electronicstalk Editorial
Team on 28 January 2005
Zarlink cuts losses again
Zarlink Semiconductor has released results for the fiscal 2005 third quarter ended 24th December 2004.
Zarlink Semiconductor has released results for the fiscal 2005 third quarter ended 24th December 2004, prepared in accordance with US generally accepted accounting principles (GAAP) The Board of Directors announced the appointment of Kirk K Mandy, Vice-Chairman of the Board, as interim President and Chief Executive Officer
This article was originally published on Electronicstalk on 7 Feb 2001 at 8.00am (UK)
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The board also announced that Patrick J Brockett has resigned to pursue other interests, effective immediately.
Third quarter revenue was US $51.2 million, compared with US $58.8 million in the second quarter, and US $47.0 million in the third quarter of Fiscal 2004.
The company reported a third quarter net loss of US $7.6 million, or US $0.06 per share.
In comparison, Zarlink recorded a net loss of US $11.2 million, or US $0.09 per share for the third quarter in fiscal 2004.
Gross margin in the third quarter was 44% of revenue, compared with 46% in the second quarter.
For the first nine months of fiscal 2005, revenues reached US $165.8 million, up 13% from US $147.3 million in the same period a year ago.
Net income for the first nine months was US $3.1 million, or US $0.01 per share.
This compares with a net loss of US $36.3 million, or US $0.30 per share, in the first nine months of fiscal 2004.
R and D expenses in the third quarter were US $15.7 million or 31% of revenue, compared with US $15.6 million or 27% of revenue in the second quarter.
In the third quarter of fiscal 2004, R and D expenses were US $19.5 million, or 41% of revenue.
Selling and administrative (S and A) expenses were US $12.7 million or 25% of revenue in the third quarter, up from US $11.0 million or 19% of revenue in the second quarter.
S and A expenses rose primarily because of higher corporate governance costs.
In the third quarter of fiscal 2004, S and A expenses were US $11.9 million or 25% of revenue.
In addition, the company announced the appointment to the Board of Directors of Dennis A Roberson, former Chief Technology Officer for both Motorola and NCR Corp, and Kari-Pekka Wilska, President of Nokia Americas.
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