News

O2Micro Reports First Quarter Sales and Earnings

May 01, 2002 by Jeff Shepard

O2Micro International Ltd. (George Town, Grand Cayman) reported its financial results for the first quarter ended March 31, 2002. Net sales for the first quarter were $16.1 million. First-quarter revenue of $16.1 million was an increase of five percent over the preceding quarter, and 83 percent over the comparable quarter of the prior year. Earnings per share for the first quarter, fully diluted, were $0.08 per share, compared to $0.07 per share in the preceding quarter, and $0.02 in the comparable quarter of the prior year.

Net income for the first quarter was $3,029,000, an increase of 12 percent over the preceding quarter, and 369 percent greater than the net income for the comparable quarter of the prior year. First-quarter research and development expenditures were $4,572,000, an increase of three percent over the preceding quarter, and 59 percent over the comparable quarter of the prior year.

"First-quarter revenue of $16.1 million and net income of $3,029,000 were each record highs for O2Micro," said O2Micro Chairman and CEO Sterling Du. "We are very pleased with the net income and five-percent revenue growth in Q1 because it is traditionally the weaker quarter of the year in our customers' markets."