Santa Clara, Calif.--July 23, 1997--Quality Semiconductor Inc. (Santa Clara, Calif.) reported record results for the third fiscal quarter ended June 30, 1997.
Revenue for the third quarter was a record $16.54 million versus $11.14 million for the third quarter a year ago, and $13.30 million for the prior quarter. This represents an increase of 48 percent over the third quarter of 1996 and 24 percent over the second quarter of fiscal 1997. Net income for the third quarter was $887,000, or $0.13 per share, compared to a net loss of $1.78 million, or a $0.32 loss per share in the same quarter a year ago, and net income of $372,000, or $0.06 per share for the prior quarter. Average weighted common shares for the third quarter ended June 30, 1997 were 7,096,000 versus 5,494,000 for the third quarter of the previous year.
For the first nine months of fiscal 1997 revenue was $42.19 million compared to $33.47 million for the nine month period a year ago. This represents an increase of 26 percent over the nine month period ended June 30, 1996. Net income was $1.39 million, or $0.21 per share versus a net loss of $459,000 or a $0.08 loss per share for the same period in 1996. Average weighted common shares for the nine months ending June 30, 1997 were 6,632,000 versus 5,518,000 for the first nine months of the previous fiscal year.
Santa Clara, Calif.
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