Alliance Reports Third-Quarter 2001 Results
Alliance Semiconductor Corp. (Santa Clara, CA) reported revenues for the third fiscal quarter ended December 31, 2001, of $6.3 million, a decrease of $57.5 million, or 90 percent, from the same quarter last year, and an increase of $1.2 million, or 24 percent, from the prior-quarter's revenues of $5.1 million.
The net loss for the third fiscal quarter was $11.0 million, or $0.27 per share, compared to net income of $10.9 million, or $0.26 per diluted share, for the same quarter one year ago. The results for the fiscal third quarter include a pre-tax charge of approximately $1.8 million and an approximately $1.0 million write-down in inventory.
Alliance Chairman, President and CEO N.D. Reddy said, "After three quarters of sequential declines in revenues, we are encouraged that this quarter resulted in a 24-percent increase in revenues from the prior quarter. While we clearly have a long way to recovery, we have begun to see an increase in demand for our product line and expect to realize sequential growth again in the March 2002 quarter. We have completed our corporate restructuring to achieve greater cost efficiency, while maintaining our extensive research and development efforts."