SANTA CLARA, Calif. -- Led by higher-than-expected demand for its Helium chip for digital subscriber line (DSL) broadband applications, Virata Corp. here reaped $12.0 million in the fourth quarter, a nearly 400% increase over revenues in the prior year's quarter and 196% sequentially.
Net loss for the quarter was $15.2 million, due to charges relating to the acquisition of D2 Technologies and other non-recurring charges. This compared with a net loss of $2.3 million in the prior year's fourth quarter. Reported net loss was 69 cents per basic and diluted shares on a pro forma basis, compared to a net loss of $1.14 and 17 cents per share, respectively, one year ago.
During the quarter, Virata also added a record number of new customer licenses and expandedrelationships with key customers.
"Virata clearly exceeded all expectations in the fourth quarter as revenues rose steeply fueled by the explosive growth of DSL services," said Charles Cotton, CEO of Virata. "Based on customer orders and forecasts, we anticipate that the rapid growth in DSL will continue in markets worldwide; and also see an expansion in broadband wireless and integrated voice/data devices."
For the fiscal year ended, April 2, Virata's net revenues were $21.8 million, an increase of 135% over $9.3 million reported for the prior fiscal year. Net loss for fiscal 2000 was $26.1 million compared with a net loss of $17.2 million for fiscal 1999. On a pro forma basis, net loss was $1.57 per share compared to $1.28 per share for fiscal 1999.
Added Cotton, "Moving forward, we anticipate increased demand for our flagship Helium product, which is ramping strongly; and we have secured multiple designs wins for our new Beryllium and Boron communications processors. We believe these developments should underpin Virata's continued growth over the coming year, and we have implemented aggressive sales, marketing and manufacturing capacity programs to scale with that growth and ensure our long-term success."