MANHASSET, N.Y. Although their full 2004 year fiscal results improved over 2003, AMIS Holdings Inc., Broadcom Corp., and Zoran Corp. all saw sequential sales declines in their December quarters due to slowing demand and inventory issues.
In its fourth quarter, mixed-signal IC supplier AMIS Holdings Inc. (Pocatello, Id.) posted net earnings of $7.3 million, or 8 cents per share on sales of $123.3 million, compared to $16.2 million, or 19 cents per share on sales of $131.2 million in the third quarter.
For 2004, AMI earned $52.4 million, or 60 cents per share on sales of $517.3 million, compared to a net loss of $0.4 million on sales of $454.2 million in 2003.
"Growth in our target markets of automotive, medical, and industrial was 19 percent in 2004 compared to 2003, which was offset by weakness in communications, particularly in the second half," said Christine King, AMI's president and chief executive, in a statement.
Communications product supplier Broadcom Corp. (Irvine, Calif.) posted net earnings of $71.1 million, or 20 cents per share on sales of $539.4 million in the fourth quarter, compared with $43.9 million, or 13 cents per share on sales of $646.5 million the previous quarter.
Broadcom earned $218.7 million, or 63 cents per share on sales of $2.4 billion for 2004, compared with a loss of $959.6 million, or $3.29 per share on sales of $1.6 billion a year ago.
Scott McGregor, Broadcom's president and chief executive, said fourth-quarter results were negatively impacted by the industry-wide inventory correction, particularly in direct broadcast satellite and enterprise networking businesses.
Digital imaging and entertainment IC supplier Zoran Corp. (Sunnyvale, Calif.) posted a fourth-quarter net loss of $30.1 million, or 70 cents per share, on sales of $74.8 million, down from a net loss of $2.6 million, or 6 cents per share on sales of $119.7 million the previous quarter. The loss included charges related to discontinuing the company's CMOS image sensor line as well as inventory writedowns.
Zoran also restated its GAAP results for the first, second and third quarters, narrowing previously stated losses by 2, 3, and 2 cents, respectively.
For 2004, Zoran posted a net loss of $47.4 million, or $1.11 per share on sales of $378.9 million, an improvement over a net loss of $68.0 million, or $2.05 per share on sales of $216.5 million in 2003.