SAN JOSE -- Micro Linear Corp. reported a net loss of $3.4 million, or 28 cents per share, in the fourth quarter ended Dec. 31, 2000. That compared to a net loss in the preceding quarter of $3.8 million, or 33 cents per share, and a net income of $228,000, or 2 cents per share, in the fourth quarter of 1999.
Revenue for the fourth quarter of 2000 was $4.3 million, compared to revenue of $10.3 million in the preceding quarter, and $12.4 million in the fourth quarter of 1999.
The fourth quarter of 2000 was the first full quarter of operations following the company's sale of its power management, bus interface, and video product lines to Fairchild Semiconductor Corp. in September. The decline in revenue and gross margin, and the increase in net loss from the third quarter were largely attributable to the loss of revenue from these product lines, according to Micro Linear.
The fourth quarter revenues reflect the first complete quarter of shipments of only wired networking communication products by the company.
"During the fourth quarter, the company received its first large volume production order for the 900MHz RF Transceiver which will begin shipping very soon to a leading Digital Cordless Telephone supplier," David L. Gellatly, president and chief executive of Micro Linear, said in a released statement. "We also sampled initial customers with our new Fast Ethernet Media Converter and 2.4GHz RF Transceiver, two products that we expect to be in production in the second half of the year."
Orders for Micro Linear's ongoing networking and wireless product lines totaled $4.4 million in the fourth quarter, compared to $4.4 million during the third quarter of 2000. Ending backlog for networking and wireless products totaled $4.8 million, versus $4.5 million at the end of the third quarter.
The company reported a net loss of $11.7 million, or $1.01 per share, for the year 2000, compared to a net loss of $444,000, or 4 cents per share, for 1999. Revenue for the year ended Dec. 31, 2000 totaled $37.7 million, compared to $46.6 million for 1999.