OTTAWA, Ontario -- Mosaid Technologies Inc. here today reported revenues grew 91% to $14.2 million in the company's fiscal fourth quarter, ended April 28, compared to $7.4 million in the period last year. The supplier of networking semiconductors and testing services posted a net income of $450,000 vs. a net loss of $3.3 million last year.
"With these results, Mosaid has posted its highest quarterly and annual revenues ever," said Richard Boadway, senior vice president and chief financial officer of the Ottawa company.
"Our Systems Division has more than doubled its revenues of last year, bolstered by a recovery in the market for automatic test equipment (ATE) and renewed buying in Korea, in particular," he said. "Moreover, our Semiconductor Division's revenues grew even more, representing a growth of 123% over last year."
Boadway said the company's patent licensing program resulted in more than $13 million in revenues from three licensees in the fiscal year, ended April 28. "Discussions have been initiated with nine further license prospects," he said. "While the Division's fabless semiconductor business has yet to generate product revenues from the networking chip families under development, it has recognized several million dollars in revenue through financial contributions by lead customers and a strategic supplier."
For the 2000 fiscal year, Mosaid reported revenues grew 111% to $48.1 million from $22.8 million in the previous year. The company's net income was $1.9 million vs. a net loss of $10.2 million in the last fiscal year.