SANTA CLARA, Calif. -- Hoping to find new success in multimedia Internet appliances, NeoMagic Corp. here posted revenues of $188,000 in its second fiscal quarter, ended July 31, compared to $31.9 million in the same period last year. NeoMagic is attempting to reinvent itself as a chip supplier for next-generation handheld systems after its PC graphics business disappeared.
Revenues in the just-ended fiscal quarter were up from just $80,000 in the prior period, ended April 30. Last month, NeoMagic launched its MiMagic series new system-on-chip ICs, based on a 32-bit RISC processor core from Mips Technologies Inc. and the company's embedded DRAM (see July 10 story).
The Santa Clara company on Thursday said it had a net loss of $6.9 million in the fiscal second quarter, compared to a net profit of $2.7 million in the period past year. But NeoMagic also reported that it ended the month of July with $98.2 million in cash, cash equivalents, and short-term investments. The company is also expanding its sales channel, including the naming of Taarcom Inc. as its manufacturing representative for Northern California on Thursday.
"We are on track in our development effort, and expect to begin showing our new product family to potential customers this month," said Prakash Agarwal, president and CEO of NeoMagic.
NeoMagic said its total pro-forma operating expenses for the second fiscal quarter--excluding deferred compensation and acquisition related amortization--were $7.3 million, comprising of $5.4 million in R&D and $1.9 million in selling, general, and administrative expenses. The company's net book value for the quarter was $3.94 per share. At the end of the current third fiscal quarter, which concludes at the end of October, NeoMagic expects to have $98.2 million in cash and short-term investments to continue its new product strategy.
RSS
Digital
10 emerging technologies to watch:
EE Times has compiled a list of emerging technologies that we think will be worth watching out for in 2010. Biofeedback or thought-control of electronics are among the contenders.
Hot applications in 2010:
We've compiled a list of 10 technology applications you should watch for in 2010, ranging from e-book readers to 3-D TVs. We examine the features that make these apps so compelling as well unresolved issues.
Top 25 predictions for semis in 2010:
2010 is just beginning to unfold in the electronics industry. Looking into our crystal ball, we have released our own chip forecasts--and other predictions--for 2010.
Seven things to fix in 2010:
The editors of EE Times came up with their own informal list of things we hope engineers fix in 2010, spanning everything from nano-lithography to space travel. What do you want to see get done this year?
'09 moves that are shaping the future:
This was a brutal year, but the industry gets a nod for showing grace under fire. Here's our Top 10 guide to the coming year, illustrating what to expect in 2010.
10 CEOs out in 2009:
It's been a tough year for the global electronics industry and CEOs. We survey the dismissal of 10 industry CEOs during the first three quarters of 2009 and what's ahead for the rest of the year.
Notable women in microelectronics:
There is no better time than a global economic recession to examine the keys to successful corporate governance. So, EE Times has compiled an international list that celebrates women who are business and technology leaders in semis.
EE Times updates Silicon 60:
Seventeen companies have been added to the lastest version of our Silicon 60 list of emerging startups. Forty-three companies survived as emerging companies that are still worth watching.
RSS| 
Digital| 
Mobile
