"ATI Posts Larger Than Expected Loss
The troubles besetting ATI Technologies worsened as the graphics chip manufacturer posted a third-quarter fiscal 2001 loss that was deeper than it had warned. Toronto-based ATI reported a net loss of 10 cents per share, larger than the forecast of 6 to 7 cents. ATI said a worldwide computer component shortage, competitors' cost-cutting and a transition to new products all ate into its revenues and profit margins in the quarter.
Sales were $288.2 million, a drop of 4.6 percent from $302 million in third-quarter fiscal 2000. In the third quarter, ATI said its net loss was $23.1 million versus a profit of $35.9 million in third-quarter fiscal 2000. The corporation said it endured a $64 million charge in the quarter to write off excess and slow-moving inventories and a $24 million charge for customer programs intended to encourage sales of its older product lines. The net loss for the quarter was $128.8 million compared to a net profit of $18.6 million in third-quarter fiscal 2000."
Radeon looks to be their last hope.
The troubles besetting ATI Technologies worsened as the graphics chip manufacturer posted a third-quarter fiscal 2001 loss that was deeper than it had warned. Toronto-based ATI reported a net loss of 10 cents per share, larger than the forecast of 6 to 7 cents. ATI said a worldwide computer component shortage, competitors' cost-cutting and a transition to new products all ate into its revenues and profit margins in the quarter.
Sales were $288.2 million, a drop of 4.6 percent from $302 million in third-quarter fiscal 2000. In the third quarter, ATI said its net loss was $23.1 million versus a profit of $35.9 million in third-quarter fiscal 2000. The corporation said it endured a $64 million charge in the quarter to write off excess and slow-moving inventories and a $24 million charge for customer programs intended to encourage sales of its older product lines. The net loss for the quarter was $128.8 million compared to a net profit of $18.6 million in third-quarter fiscal 2000."
Radeon looks to be their last hope.