Sunday, August 31, 2014
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Intel Hopes To Improve Its Mobile Business With Ex-Qualcomm exec
Kingston HyperX Demos DDR4 Memory at PAX Prime
Corsair and ASUS Fastest DDR4 Memory Kit
Intel Unleashes its First 8-Core Desktop Processor For Gaming
Samsung Partners with Nike On Running App
Samsung Applied for Samsung Quantum Dot TV Trademark
New iPhones Expected at Sept. 9 Event
Google Tests Drones For Delivery Of Goods
Active Discussions
help questions structure DVDR
Made video, won't play back easily
Questions durability monitor LCD
Questions fungus CD/DVD Media, Some expert engineer in optical media can help me?
CD, DVD and Blu-ray burning for Android in development
IBM supercharges Power servers with graphics chips
Werner Vogels: four cloud computing trends for 2014
Video editing software.
 Home > News > Optical Storage > Oak Tec...
Last 7 Days News : SU MO TU WE TH FR SA All News

Tuesday, October 08, 2002
Oak Technology reports first fiscal quarter revenue of $30.2 million


Oak Technology, Inc. (Nasdaq:OAKT), a leading provider of embedded software and semiconductor solutions for the optical storage and digital imaging markets, today announced results for the first quarter of fiscal 2003, ended September 30, 2002, and unveiled the company's strategy to increase its focus on the emerging digital home entertainment market. The first step in the implementation of that strategy will be Oak's acquisition of TeraLogic, Inc., a leading developer of video/audio processing hardware and software for digital home entertainment platforms, which was announced separately today.

For the first quarter of fiscal 2003, Oak reported revenues of $30.2 million and a net loss of $5.7 million, or $(0.10) per share on a GAAP basis. On a pro forma basis, excluding the amortization of intangibles, the company reported a net loss for the first quarter of the current fiscal year of $3.9 million, or $(0.07) per share. For the first quarter of fiscal 2002, the company reported net revenues of $33.3 million and a net loss of $6.2 million, or $(0.11) per share on a GAAP basis, and a pro forma net loss of $2.8 million, or $(0.05) per share.

"The first quarter was an important quarter for us from a strategic point of view," said Young Sohn, Oak chairman and chief executive officer. "In view of ongoing tough market conditions in the PC-oriented business, we have begun to implement a strategic plan to expand our core business and position Oak for leadership in the emerging consumer digital entertainment market. The first step in this plan is the acquisition of TeraLogic, also announced today. As we move forward with our core business, we will be entering into new partnerships with leading optical storage companies to leverage our technical leadership while improving our cost efficiency in that business."

FIRST QUARTER BUSINESS REVIEW

- Oak's Quatro SOC solution is currently sampling production-level silicon. Oak expects to ramp production on the OTI-4110 in the March quarter.
- Oak announced the availability of the PM 1100, a highly integrated pulse width modulator (PWM) and frequency synthesizer for laser printing devices. The patented technology solution to enhance resolution offers superior image quality for the monochrome and growing color laser printing markets.
- Oak demonstrated continued evidence of strong and productive strategic partnerships with the release of Yamaha Corporation's latest high-performance optical CD-RW recorder which features Oak's OTI-9797T optical storage controller. The two companies continue to leverage each other's technical strengths by driving the development of advanced optical storage writing capabilities for CD-RW and recordable DVD.
- At the recent Intel Developers Forum held in San Jose in September, Oak demonstrated Maestro™, an exciting new technology that allows audio, digital photos, and video content residing on home PCs to be displayed in the living room. Maestro™ leverages existing home networking and consumer electronics technologies and can deliver personalized content on a TV using a networked DVD player or set-top box.

Oak's Board of Directors authorized a program to repurchase up to four million shares, or approximately seven percent, of the company's currently outstanding common stock. The program is primarily intended to offset the potential dilution of the company's ongoing stock-based employee compensation plans over the next two years. Approximately 415,000 shares were repurchased by the company during the first fiscal quarter for approximately $1.6 million.


Previous
Next
Benq September sales rise on-month        All News        Benq September sales rise on-month
Benq September sales rise on-month     Optical Storage News      Benq September sales rise on-month

Source Link Get RSS feed Easy Print E-Mail this Message

Related News
U.S. Judge: MediaTek's Chips Do Not Infringe Zoran and Oak Patents
MediaTek filed complaints against Zoran and Oak
Zoran files ITC complaint against MediaTek, ten users
Zoran-Oak proposed Merger Hart-Scott-Rodino waiting period expires
Zoran Corporation and OAK Technology sign merger agreement to create Global Leader Inc and software solutions
Samsung Electronics joins Oak and Sunplus to develop optical products using Oak's optical technologies
Oak Technology completes sale of optical business to Sunplus
Oak and Sunplus announce optical storage joint venture
Oak Technology and Cheertek combine optical storage businesses
OAK Technology posts total revenue of $28.4 million for second fiscal quarter
Oak Technology supplies high-speed controller for Samsung's new 48X/16X/48X CD-R/RW recorder
Oak Technology debuts industry's highest performance 52X CD-RW controller with integrated microprocessor

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2014 - All rights reserved -
Privacy policy - Contact Us .