California Micro Devices Reports Q2 Financial Results

October 27, 2002 by Jeff Shepard

California Micro Devices Corp. (Milpitas, CA) announced financial results for its second fiscal quarter, which ended September 30, 2002. Exceeding prior guidance, revenue grew to $10.8 million, up 25 percent from the year-ago quarter and up 15 percent from the $9.4 million last quarter. The net loss per share met prior guidance at the most favorable end of the range as it narrowed to $0.09, representing an 87-percent improvement from the year-ago quarter and a 50-percent improvement compared to the net loss of $0.18 last quarter.

"I'm pleased to report our third consecutive quarter of revenue growth and bottom-line improvement as we make continued progress toward our goal of returning California Micro Devices to profitable growth," said Robert Dickinson, president and CEO. "Thanks to our order rate strengthening toward the end of the quarter, our total September-quarter bookings were significantly above those in the March quarter, although lower than the unexpectedly high level we achieved during the June quarter."