Ottawa, Ontario--November 23, 1999--MOSAID Technologies Inc. reported revenues of $11,636,000 for its second fiscalquarter ended October 29, 1999, representing an increase of 114% over$5,446,000 for the same period last year.
Net earnings for the quarter were $519,000 compared to a net loss of$1,325,000 for the same period last year. Net earnings per share, on abasic and a fully diluted basis, were $0.07 for the quarter, compared to aloss per share of $0.19 (fully diluted) for the corresponding quarter lastyear.
The second quarter saw sequential quarterly revenue growth in both theSemiconductor and the Systems Divisions, led by strong contributions fromthe Company's fabless semiconductor ("fabless"), intellectual propertylicensing ("chipless") and automatic test equipment ("ATE") businesses.MOSAID's core markets in the memory and networking industries appear poisedfor years of strong growth.
According to Dataquest (October 1999), "thereis no doubt that the DRAM market is at the beginning of the next sustainableupswing phase of its cycle." Fabless chip companies, such as MOSAID, canalso expect increasing opportunities in the networking marketplace: "Thefurther penetration of the Internet and e-commerce will continue to improvedemand for chips in servers, access systems, Internet appliances andnetworking equipment." (Ronald A. Bohn, Director of Research, Dataquest,November 1999).
MOSAID's Systems Division showed improved performance, as the test andassembly equipment vendors enjoyed the early upswing phase of the DRAMcycle. Intel's endorsement of multiple memory technologies in its productroadmap has supported continued splintering of the memory market, and isexpected to be a positive factor in the demand for engineering memory test.The Systems Division's MS4155 tester, introduced in July, is selling well,buoyed by the increased interest in PC133 memory testing.
Mosaid Technologies, Inc.
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