Elantec Semiconductor Inc.,today reported net revenue for the fourth quarter, ended Sept. 30, were $36.9 million, an increase of 158% from the $14.3 million reported for the fourth quarter of fiscal 1999.
Net income was $8.1 million, or 33 cents per diluted share, compared with net income of $1.7 million, or 8 cents per diluted share, for the fourth quarter of fiscal 1999.
Net income for the fiscal year was $20.0 million or 85 cents per diluted share on revenue of $101.2 million. This compared with a net loss of $3.9 million or 21 cents per diluted share on revenue of $50.7 million reported for fiscal 1999.
"Elantec continued to experience significant revenue and profit growth in the fourth quarter," said Rich Beyer, president and chief executive of Elantec, Milpitas, Calif. "We are very proud about growing the company 100% over fiscal year 1999."
Elantec specializes in performance analog ICs primarily for the video, optical storage, power
management, and communication markets.
During the quarter, Elantec completed a stock offering of 1.76 million shares that raised $135 million in cash.