C-Cube Microsystems Inc., a codec pioneer, reported that strong DVD sales helped to drive its revenues and earnings to beat estimates for the third quarter of 2000.
The Milpitas, Calif., company reported revenue of $69.0
million, compared with $52.3 million for the same period in 1999. Net earning were 13 cents a share, compared with 31 cents a share for 1999 third quarter. Consensus estimates had C-Cube's EPS at 11 cents a share.
`Our revenue and profit growth are driven by our expansion platforms: DVD, set-top box and codec,'' said Umesh Padval, C-Cube's president and chief executive. ``We achieved all aspects of a complete quarter; our expansion platforms realized record revenues.''
During the quarter, C-Cube announced its first design wins in the emerging recordable DVD market. Both Samsung and LG Electronics selected C-Cube's codec Dvxcel, a recordable DVD device.