MARKHAM, Ontario -- Fabless chip company ATI Technologies Inc. made a net income of US$47.6 million on sales revenue of $463.3 million in the second quarter of the fiscal 2004 year, the company said Wednesday (March 31, 2004). The company predicts flat sales in the next quarter.
Revenue was up by 47.8 percent relative to the second quarter of fiscal 2003 and ATI's cash position increased $88.5 million during the quarter to $468.5 million as of February 29, 2004. The income compared with a loss in the same quarter a year before.
"Product and technology leadership continues to be the foundation of our success and we see tremendous opportunities in the future to expand our market share and accelerate our momentum in the consumer electronics market," said K.Y. Ho, ATI's chairman and chief executive officer, in a statement.
ATI, the fifth-largest fabless chip company according to IC Insights Inc., said it expected third quarter revenues, despite it being traditionally the industry's weakest, in the range of $440 million to $480 million.