MANHASSET, N.Y. " Genesis Microchip Inc. reported a net loss of $1.3 million on sales of $52.8 million in its first 2005 fiscal quarter ended June, compared to net earnings of $1.4 million on sales of $53.9 million in the year-ago fiscal quarter. In the previous fiscal quarter ended March, Genesis lost $1.9 million on sales of $54.9 million.
Genesis, a San Jose supplier of image processing technology for displays, said unit shipments in the June quarter reached 12.2 million units, including 11.8 million of LCD monitor and flat panel TV ICs. Total unit shipments increased 14% over the March quarter.
"I am pleased to report that in the June quarter we saw continued growth in both flat panel TV and LCD monitor controllers," said Eric Erdman, interim chief executive. "We introduced several display controllers to address the highest volume applications within the flat panel TV and LCD monitor markets."
For the fiscal quarter ending September, the company expects that revenue will reach $52 to $56 million, with gross margins ranging from 39 to 42 percent.