Alliance Semi Reports First-Quarter 2003 Results

July 24, 2003 by Jeff Shepard

Alliance Semiconductor Corp. (Santa Clara, CA) reported financial results for the first fiscal quarter of 2004 ended June 30, 2003. The company reported revenues of $5.1 million, compared to $5.1 million in the previous quarter and $4.3 million for the first quarter of fiscal 2003. The non-memory business units represented 32% of the company's total revenue compared to 39% in the previous quarter.

The net loss for the first quarter was $13 million, or $0.37 per share, compared to a net loss of $25.5 million, or $0.72 per share, for the previous quarter, and a net loss of $15.3 million, or $0.38 per share, in the same quarter last year. Operating expenses for the quarter were $10.6 million, a decrease from the $12.1 million reported in the fourth quarter of fiscal 2003. Operating expenses for the fourth quarter of fiscal 2003 included a one-time charge of $1.6 million related to the acquisition of Chip Engines Inc.