Santa Clara, Calif.--Jan. 21, 1998--Quality Semiconductor, Inc.reported results for the first quarter ended December 31, 1997.
The reported results are in line with the company's first quarteroutlook announcement on December 8, 1997. Revenue for the firstquarter was $18,534,000 versus $12,345,000 for the first quarter ayear ago and $20,502,000 for the prior quarter. Net loss for thefirst quarter was $989,000, or a $0.13 loss per share, compared with netincome of $131,000, or $0.02 per share in the same quarter a year ago and a net loss of $1,180,000, or a $0.16 loss per share for the priorquarter. The earnings shortfall was due primarily to pricing pressuresin its networking product line, and the revenue shortfall was dueprimarily to softness in demand of its logic products. Averageweighted common shares outstanding for the first quarter endedDecember 31, 1997 were 7,373,000 versus 6,185,000 for the firstquarter of the previous year.
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