SAN JOSE, Calif. Intellectual-property and ATE specialist Mosaid Technologies Inc. said revenues for the first quarter of fiscal year 2006 were $14.2 million, an increase of 54 percent over the revenues of $9.3 million in the first quarter of fiscal year 2005.
Net income for the quarter was $4.4 million, or $0.38 per diluted share, compared to a net income of $92,000, or $0.01 per diluted share, a year ago.
George Cwynar, president and CEO of Mosaid (Ottawa), was bullish. “Net income was higher than planned, primarily due to reduced litigation activity in the quarter, resulting in lower legal expenses than expected,” he said in a statement.
The systems division achieved healthy returns on the sale of its MS4205 and MS4205ex test systems in the first quarter of fiscal year 2006, recording revenues of $4.9 million, with a segment profit of $786,000 or 16 percent of segment revenues.
Guidance for the company's revenues in Q2 of fiscal year 2006 is $15.5 to $16.5 million and net earnings of $3.7 to $4.2 million.