Pericom Semiconductor Corp. said revenue for the fourth quarter ended June 30, was $13.3 million, down 56% from $30.31 million in the comparable period last year, and down 49% sequentially from $25.9 million in the previous quarter.
Despite the sluggish fourth quarter, annual revenue was up 19% to $108.3 million, a new high for the company.
Pericom, San Jose, Calif., reported net income for the quarter was $447,000, or 2 cents per diluted share, after a non-recurring charge of $522,000 related to an unused leased facility and tax benefit from lowering its effective tax rate from 38% to 36%. It was a 91% decrease from net income of $5.2 million, or 19 cents per diluted share, in the fourth quarter of fiscal 2000. Sequentially, net income was down 90% from third quarter net income of $4.3 million.
For the twelve months ended June 30, revenue was $108.3 million, up 19% from $91 million in the previous year. For the fiscal year ended June 30, net income, after the non-recurring charge and effective tax rate change, was $17.4 million, or 64 cents per diluted share, up 31% from $13.2 million, or 56 cents per diluted share in the previous fiscal year.
In the September quarter, Pericom expects revenue to be flat to down 5% from the quarter just ended. Operating expenses will continue to be tightly controlled and are expected to be similar to the quarter just ended, excluding non-recurring charges, it said.