California Micro Devices reported a net loss of $3.54 million, or 22 cents per share, on sales of $10.8 million in its fourth 2003 fiscal quarter ended March 31. The Milpitas, Calif., semiconductor supplier lost $6.3 million, or 46 cents per share, on sales of $8.2 million in the year-ago fourth fiscal quarter.
Financial performance during the quarter was impacted by weaker than expected demand for mobile products, higher than expected manufacturing spending, and production issues that caused a shortfall in shipments of medical-related products, according to Robert Dickinson, president and chief executive.
Dickinson noted that medical product process issues are being resolved and should result in higher shipments during the current quarter. The company is also seeing an improvement in orders.
"I'm pleased to report that we have booked $14.3 million in new orders during fiscal Q4, up from $11.7 million the prior quarter," Dickinson said in a statement.
For fiscal 2003, California Micro lost $6.5 million, or 44 cents a share, on sales of $42.2 million, an improvement over fiscal 2002 when the company lost $28.6 million, or $2.33 per share, on sales of $30 million.