OTTAWA -- Mosaid Technologies Inc. here reported a 10% sequential drop in revenues to $21.8 million in the company's fiscal first quarter, ended July 27, compared to a record $24.3 million in the prior three-month period. Revenues were 19% higher than $18.3 million in the quarter last year.
The supplier of networking ICs, intellectual property for DRAMs, and memory testers posted net earnings of $2.4 million for the quarter, ended July 27. A year ago the company had net earnings of $1.3 million.
Mosaid's Intellectual Property Division reported revenues of $14.8 million, a 72% increase from $8.5 million in the quarter last year. The division is focused on licensing the company's portfolio of patents for DRAM manufacturing. It had a profit of $10.7 million vs. $5.7 million last year.
Revenues for Mosaid's test-supplying systems division dropped 21% to $6.6 million in the just-ended quarter from $8.3 million last year. The division loss totaled $961,000 in the quarter.
The Ottawa company's Semiconductor Division posted negligible revenues and a segment loss of $6.5 million for the fiscal first quarter. Mosaid is attempting turn networking chips into its next revenue driver.