ATI posts modest profit for Q1 2003

Graphics card and chipmaker ATI Technologies Inc. posted results for the first fiscal quarter of 2003, which ended November 30, 2002. The company posted a small profit for the quarter, quite a turnaround from its 2002 results.

ATI noted revenues of US$322 million for the quarter, up 34.5 percent from quarter to quarter and up 28.8 percent for the same quarter a year ago. Although gross margins dropped and operating expenses increased for the quarter, the company reported a net income of US$5.0 million, compared to a net loss last quarter of US$32.2 million and a net loss of US$10.3 million for the same quarter a year ago.

ATI president and COO David Orton said that his company has obtained "key design wins" in every product category it participates in, and that ATI is pleased with the strength of its PC business. This quarter saw the rollout of ATI's Radeon 9700 and 9000 products -- the 9000 is available as an OEM card in certain Power Mac G4 models, while the 9700 is expected to make its Mac debut sometime early next year.

ATI anticipates a 10 percent drop in revenues for the second quarter, correlating the drop to typical seasonal shifts. ATI also expects gross margins to grow and operating expenses to increase, as the company invests more in research and development. Regardless, ATI hopes to target adjusted net income in the same range as this quarter.

ATI senior vice president and CFO Terry Nickerson said the company's emphasis will be on improving margins and "realizing a contribution from [ATI's] consumer business," which Nickerson said has been soft.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Peter Cohen

PC World
Show Comments

Cool Tech

Toys for Boys

Family Friendly

Stocking Stuffer

SmartLens - Clip on Phone Camera Lens Set of 3

Learn more >

Christmas Gift Guide

Click for more ›

Brand Post

Bitdefender 2019

This Holiday Season, protect yourself and your loved ones with the best. Buy now for Holiday Savings!

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Aysha Strobbe

Microsoft Office 365/HP Spectre x360

Microsoft Office continues to make a student’s life that little bit easier by offering reliable, easy to use, time-saving functionality, while continuing to develop new features that further enhance what is already a formidable collection of applications

Michael Hargreaves

Microsoft Office 365/Dell XPS 15 2-in-1

I’d recommend a Dell XPS 15 2-in-1 and the new Windows 10 to anyone who needs to get serious work done (before you kick back on your couch with your favourite Netflix show.)

Maryellen Rose George

Brother PT-P750W

It’s useful for office tasks as well as pragmatic labelling of equipment and storage – just don’t get too excited and label everything in sight!

Cathy Giles

Brother MFC-L8900CDW

The Brother MFC-L8900CDW is an absolute stand out. I struggle to fault it.

Luke Hill

MSI GT75 TITAN

I need power and lots of it. As a Front End Web developer anything less just won’t cut it which is why the MSI GT75 is an outstanding laptop for me. It’s a sleek and futuristic looking, high quality, beast that has a touch of sci-fi flare about it.

Emily Tyson

MSI GE63 Raider

If you’re looking to invest in your next work horse laptop for work or home use, you can’t go wrong with the MSI GE63.

Featured Content

Product Launch Showcase

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?