MARKHAM, Ontario -- ATI Technologies Inc., a fabless graphics chip vendor, made a net profit of $12.4 million on sales of $342.1 million in the third fiscal quarter that ended May 31, 2003. This compared with a loss of $2 million on sales of $266.2 million in the same quarter a year before.
Revenues for the third quarter were up 7.4 percent compared to $318.5 million in the second quarter of fiscal 2003 and up 28.5 percent compared with the same quarter a year before. The gains were based on the success of the Radeon line of processors, the company said.
ATI expects revenue in the fourth quarter to increase again to somewhere in the range of $335 million to $365 million. Also, net income should improve in the fourth quarter of fiscal 2003 relative to the third quarter, the company said.
"Customer demand for our complete line of PC products contributed to our robust performance this quarter," said K.Y. Ho, chairman and chief executive officer of ATI, in a statement. "This, coupled with some improvement in the PC market - particularly notebooks - enabled ATI to deliver solid top-line growth."
Ho added that the spread of multimedia capabilities from the games consoles and the PC to digital television and smartphone platforms provide growth opportunities for ATI.