MARKHAM, Ontario, Canada --- Graphics chip vendor ATI Technologies Inc. said sales revenues for the first quarter of its 2003 fiscal year were $322.0 million, up 34.5% from $239.5 million in the fourth quarter of fiscal 2002, and up 28.8% from $250.0 million in the first quarter of fiscal 2002.
The company made a net income of $5.0 million compared with net losses of $32.2 million in the immediately preceding quarter and of $10.3 million the same quarter a year earlier.
Sales during the quarter were driven by the Radeon 9700 and 9000 graphics chip products, the company said. But because ATI's first quarter is strongly linked to the holiday purchase season the company expects second quarter sales to drop back by about 10%.
"We were pleased with the strength of our PC business in our first quarter," said David Orton, president and chief operating officer of ATI, in a statement. "We continue to invest in R&D in order to maintain the momentum that we have created," he added.