Fremont, CA - April 27, 2001 - Avanti Corp. reported record results for its first quarter ended March 31, 2001. For the quarter, revenue was a record $94 million, a 10 percent increase over same quarter 2000 revenue of $85 million.
Pro forma diluted earnings per share, excluding merger,in-process research and development expenses and venture capital investment gains/losses, was also a record $0.48, a 16 percent increase over comparable 2000 pro forma earnings per share of $0.41.
Peported diluted earnings per share for the quarter, including
merger, in-process research and development expenses and venture capital investment gains/losses, was $0.38, compared to $0.47 last year.
Results for the first quarter of 2001 include an unrealized investment loss of $6.1 million, compared to an unrealized investment gain of $6.3 million in the same period last year. As of March 31, 2001, the value of the venture capital
investment is approximately $28 million. The original investment of $10 million was made in 1998.
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