AMIS Reports Second-Quarter 2003 Results

August 05, 2003 by Jeff Shepard

AMI Semiconductor (AMIS, Pocatello, ID), a leader in the design and manufacture of application-specific integrated circuits, reported results for the second quarter ended June 28, 2003. Second-quarter 2003 revenue was $108.4 million compared with first-quarter 2003 revenue of $102.8 million.

Net loss for the second quarter of 2003 was $7.3 million, compared to net income of $1.8 million for the first quarter of 2003. Included in the second-quarter results is a $20 million charge related to the write-off of the unamortized balance of an intangible asset that had no remaining value. Excluding the impact of this charge, net income would have been $4.5 million. AMIS generated EBITDA of $26.1 million for the second quarter of 2003, compared to $22 million for the first quarter of 2003. Additionally, the company's cash balance increased from $62.2 million at December 31, 2002, to $89.1 million at June 28, 2003.