Xicor Announces Third-Quarter 2002 ResultsOctober 20, 2002 by Jeff Shepard
Xicor Inc. (Milpitas, CA) reported results for the third quarter of fiscal year 2002. Sales for the third quarter of 2002 were $9.7 million, compared to $9.5 million in the second quarter of 2002. Mixed-signal product sales were $6.6 million in the third quarter, up from $6.1 million in the second quarter and represented 70 percent of the $9.4 million of product sales in the quarter, up from 64 percent in the previous quarter. OEM sales represented 63 percent of total sales and sales outside of North America were 70 percent of total sales for the quarter compared to 50 percent and 66 percent, respectively, in the second quarter of 2002.
Results for the quarter were a loss of $0.04 per share. The third-quarter gross margin percentage, including royalty revenue, was 54 percent. The gross margin percentage on product sales for the quarter was 53.1 percent compared to 49.5 percent in the second quarter. On a pro-forma basis, excluding royalty revenue, the amortization of purchased intangible assets and other income, results for the quarter were a loss of $0.08 per share in line with the company's guidance and consistent with the pro-forma loss of $0.08 per share in the second quarter of 2002. Operating spending remained relatively stable sequentially at $6.2 million for the quarter compared to $6.1 million in the second quarter of 2002.