ATI Tecnologies- ATYT - NASDAQ - Earnings para amanhã
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update
Sell off até ao suporte psicológico dos 19$
Vai precisar de alguma ajuda dos mercados em geral para se aguentar nestes valores... o mais provavel é descer até a LT a verde claro.
A ver vamos...
Gráfico:
Vai precisar de alguma ajuda dos mercados em geral para se aguentar nestes valores... o mais provavel é descer até a LT a verde claro.
A ver vamos...
Gráfico:
- Anexos
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- ATYT22Dez.png (25.39 KiB) Visualizado 643 vezes
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- Mensagens: 2140
- Registado: 11/5/2003 12:11
- Localização: Lisboa
Abriu a perder, uma vez que já eram esperados estes "resultados recordes".
Mantenho a posição uma vez que esta a recuperar agora nos primeiros minutos da sessão.
Pelos vistos está a encontrar bom suporte nos 19/19.5 Dólares. Vamos ver se começa a fazer swings mais negociáveis..
Diria 21$ como target de curto prazo, se o resto do mercado começar com o já esperado rallie de natal... se os mercados corrigirem será de esperar que a ATI vá atrás.. e aí um stop ligeiramente abaixo dos 19$ será o mais sensato.
Cumps
Mantenho a posição uma vez que esta a recuperar agora nos primeiros minutos da sessão.
Pelos vistos está a encontrar bom suporte nos 19/19.5 Dólares. Vamos ver se começa a fazer swings mais negociáveis..
Diria 21$ como target de curto prazo, se o resto do mercado começar com o já esperado rallie de natal... se os mercados corrigirem será de esperar que a ATI vá atrás.. e aí um stop ligeiramente abaixo dos 19$ será o mais sensato.
Cumps
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- Mensagens: 2140
- Registado: 11/5/2003 12:11
- Localização: Lisboa
ATI Reports Record Quarterly Results
ATI Reports Record Quarterly Results
MARKHAM, Ontario--(BUSINESS WIRE)--Dec. 21, 2004--
Revenues increase 31% to $614 million
ATI Technologies Inc. (NASDAQ:ATYT) (TSX:ATY) today announced record financial results for the first quarter of fiscal 2005.
Quarterly revenues(1) grew 30.7% to $613.9 million from $469.7 million in the first quarter of fiscal 2004 as a result of sales increases in both the personal computer and digital consumer product lines. Gross margin percentage was 34.2%. In accordance with Canadian generally accepted accounting principles, beginning with the first quarter of fiscal 2005, ATI is expensing compensation costs associated with stock options granted to employees after September 1, 2002. Net income and net income per share including compensation costs associated with stock options were $63.7 million and $0.25 respectively, up from $47.4 million and $0.19 for last year's first quarter. Compensation costs associated with stock options in the first quarter of fiscal 2005 were $8.0 million. Net income and net income per share excluding compensation costs associated with stock options were $71.4 million and $0.28 respectively. ATI's cash position increased $71.7 million during the quarter to $620.6 million at November 30, 2004.
(1) All dollar amounts are in U.S. dollars unless otherwise noted. All per share amounts are stated on a diluted basis unless otherwise noted. ATI Technologies Inc. reports under Canadian generally accepted accounting principles (GAAP).
"We continue to demonstrate our technology and industry leadership through innovation, execution and customer focus," said David Orton, ATI's Chief Executive Officer. "This has translated into the sustained financial and operational performance we have seen over the past several quarters. Looking ahead, we believe we will continue to grow our business by helping consumers to create, connect and communicate in new ways - whether it's bringing 3D and camera features to mobile phones or high definition content to home PCs."
Outlook
Looking forward, we expect our leadership in graphics and multimedia technologies to continue to drive growth for ATI. Despite seasonal weakness in our consumer and game console businesses, we expect our revenues in the second quarter to be similar to the first quarter within a range of plus or minus $20 million - led by growth in PC graphics. We expect gross margin in the second quarter to be approximately the same as the first quarter of fiscal 2005 as improved PC margins should offset seasonal weakness of our consumer products and game console businesses. Operating expenses, excluding the expense associated with stock options, are expected to grow just over 10% relative to the first quarter due to higher prototyping costs and the foreign exchange impact of the appreciation of the Canadian dollar relative to the U.S. currency.
MANAGEMENT'S DISCUSSION AND ANALYSIS OF INTERIM FINANCIAL RESULTS
This is management's discussion and analysis of financial condition and the results of operations (MD&A) that comments on ATI's operations, financial condition and cash flows for the three months ended November 30, 2004 compared to the three months ended November 30, 2003. This MD&A should be read in conjunction with the attached unaudited financial statements for the period ended November 30, 2004, the annual MD&A contained in the 2004 Annual Report and the audited consolidated financial statements for the year ended August 31, 2004.
In this MD&A, ATI, we, us and our mean ATI Technologies Inc. and its subsidiaries.
Important Information Regarding Forward-looking Statements
Forward-looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements may include words such as "plans," "intends," "anticipates," "should," "estimates," "expects," "believes," "indicates," "targeting," "suggests" and similar expressions.
This MD&A and other sections of this news release contain forward-looking statements about ATI's objectives, strategies, financial condition and results. These "forward-looking" statements are based on current expectations and entail various risks and uncertainties. Our actual results may materially differ from our expectations if known and unknown risks or uncertainties affect our business, or if our estimates or assumptions prove inaccurate. Therefore we cannot provide any assurance that forward-looking statements will materialize. We assume no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason. Additional information concerning risks and uncertainties affecting our business and other factors that could cause our financial results to fluctuate is contained in our filings with Canadian and U.S. securities regulatory authorities, including our 2003 Annual Information Form and 2004 Annual Report filed on SEDAR at www.sedar.com.
Unless indicated otherwise, this MD&A reflects our expectations as of December 21, 2004.
Any reference to "year-over-year" in this MD&A refers to a comparison of this year's first quarter results versus the first quarter of the prior year unless otherwise noted.
RESULTS OF OPERATIONS
Revenues
First quarter revenues grew 30.7% to $613.9 million from $469.7 million in the same period a year ago. PC revenues increased just over 20% on strong sales of discrete desktop products to the add-in board (AIB) channel and from PCI Express design wins with PC Original Equipment Manufacturers (OEMs). Total notebook revenues increased by about 20% on strong sales of discrete products. This was partially offset by lower sales of integrated products, which form a growing portion of the notebook market overall and where our market share is lower than that of discrete. Handset chip revenues grew about 80% due to a growing number of design wins and robust market demand for feature phones in general. Revenues from digital television products grew dramatically based on market growth, design wins and the continued penetration of our products among top digital TV manufacturers.
Gross Margin
Gross margin percentage for the first quarter of fiscal 2005 was down 1.7 percentage points to 34.2% from 35.9% for the same period a year ago. The margin percentage for our desktop discrete products declined relative to the first quarter of the previous year primarily due to production costs associated with the introduction and ramp of our new PCI Express products. The overall margin percentage decline was partially offset by the sales growth in our consumer business, which has margins that are typically higher than our corporate average.
The royalty income we received from Nintendo for our graphics technology used in their GAMECUBE products also increased year-over-year, which has a positive impact on gross margin percentage.
Operating Expenses
In the first quarter of fiscal 2004, ATI announced a Restricted Share Unit program. A component of the program was a one-time cash payment to non-executive employees. This cash payment of $7.8 million impacted operating expense in the first quarter of fiscal 2004. This was not a factor in the first quarter of fiscal 2005.
Selling and marketing expenses increased 10.3% to $34.3 million, but declined as a percentage of revenues to 5.6% from 6.6% in the first quarter of last year. The absolute increase was related primarily to increased staffing levels for sales and technical support, which was partially offset by lower advertising costs and the cash payment in fiscal 2004 referred to above.
Administrative expenses were up 10.4% to $12.7 million from $11.5 million, but declined as a percentage of revenue to 2.1% from 2.5% in the first quarter of last year. The absolute increase was related primarily to increased staffing to support our growth, which was partially offset by lower costs associated with the cash payment in fiscal 2004 referred to above.
Research and development expenses increased 15.5% year-over-year to $73.1 million, but declined as a percentage of revenue to 11.9% from 13.5% in the first quarter of last year. The absolute increase was largely a result of adding technical staff across the organization to support our growth, but higher prototyping costs - particularly in desktop, integrated notebook and handheld devices - also contributed to the increase. These were partially offset by lower costs associated with the cash payment in fiscal 2004 referred to above.
Stock-based Compensation
In accordance with Canadian generally accepted accounting principles, effective the first quarter of fiscal 2005, ATI is expensing compensation costs associated with stock options granted to employees after September 1, 2002. This expense item, along with the expense associated with restricted share units and deferred share units, is reflected in the expense for stock-based compensation included in the attached consolidated statements of operations and retained earnings. Prior to the first quarter of fiscal 2005, the expense associated with restricted share units and deferred share units were reflected in selling and marketing, research and development and administrative expenses.
Stock-options, restricted share units and deferred share units comprise all stock-based compensation currently awarded by ATI to our employees and directors. Stock-based compensation costs were $10.6 million in the quarter as compared with $0.8 million in the same period last year. The increase in stock-based compensation was primarily related to ATI commencing the expensing of stock options in compliance with Canadian generally accepted accounting principles during the first quarter of fiscal 2005.
The $10.6 million expense in the first quarter of fiscal 2005 included $8.0 million for compensation costs associated with stock options, $2.0 million for compensation costs associated with restricted share units and $0.6 million for deferred share units.
Total Operating Expenses
Our total operating expenses reflect the operating expenses detailed earlier, as well as amortization of intangible assets and other charges. For further information on the treatment of the amortization of intangible assets, please see Note 4 to our unaudited interim consolidated financial statements.
Interest and Other Income (Loss)
Interest and other income was $2.2 million in the first quarter of 2005, compared with a charge of $1.8 million for the comparable period in fiscal 2004. The increase partially reflects investment income derived from interest on our higher cash balances. A write-down of fixed assets during the first quarter of fiscal 2004 also contributed to the increase in interest and other income this quarter relative to last year.
Net Income
Net income increased 34.3% to $63.7 million in the first quarter of fiscal 2005 from $47.4 million in the same quarter last year largely due to substantial growth in revenue. Net income per share increased to $0.25 from $0.19 over the same period. Net income and net income per share excluding the compensation costs associated with stock options described above were $71.4 million and $0.28 respectively for the first quarter of fiscal 2005.
Liquidity and Financial Resources
Inventory levels of $291.6 million at the end of the first quarter increased from $254.9 million at August 31, 2004. The increase was a result of increased sales and our need to maintain adequate levels of inventory to meet customer demands. Inventory turnover was just over our target of 60 days.
Accounts receivable were up 9.1% to $399.1 million from $365.6 at fiscal 2004 year-end. Accounts payable rose 7.6% to $295.6 million from $274.8 million at year-end. Both accounts receivable and accounts payable are at levels consistent with our business volumes.
As of November 30, 2004 we had working capital of $784.4 million compared to $694.7 million at August 31, 2004. Cash flows from operations were $66.9 million in the first quarter. Our cash position at quarter end was $620.6 million, up from $548.9 million at August 31, 2004.
Outstanding Share Data
At November 30, 2004 there were 251,323,648 common shares outstanding or 257,472,468 shares on a diluted basis.
ACCOUNTING POLICIES
Our unaudited interim consolidated financial statements are prepared according to Canadian GAAP. The key estimates and assumptions that management has made and their impact on the amounts reported in the unaudited interim consolidated financial statements and notes remain substantially unchanged from those described in our 2004 Annual MD&A, with the exception of the adoption in the first quarter of fiscal 2005 of the revised CICA Handbook Section 3870, "Stock-based Compensation and Other Stock-based Payments". See Note 1 to the unaudited interim consolidated financial statements for more information about the accounting policies used to prepare our financial statements.
SUPPLEMENTARY FINANCIAL INFORMATION
The table below shows selected financial information for the eight most recently completed quarters.
(Thousands of U.S. dollars, except per share amounts)
(Unaudited)
Q1 2005 Q4 2004 Q3 2004 Q2 2004 Q1 2004
---------------------------------------------------------------------
Revenues $613,859 $572,218 $491,457 $463,337 $469,705
Cost of goods sold 403,789 378,792 317,776 301,946 301,083
--------------------------------------------------
Gross margin 210,070 193,426 173,681 161,391 168,622
Expenses
Selling and
marketing 34,345 30,288 32,385 27,999 31,130
Research and
development 73,114 75,865 65,539 60,809 63,278
Administrative 12,676 11,517 12,166 11,532 11,487
Amortization of
intangible assets 1,244 1,486 1,546 1,541 1,542
Stock-based
compensation 10,558 1,691 2,315 2,826 751
Other charges
(recoveries) 382 155 (454) (178) 173
--------------------------------------------------
132,319 121,002 113,497 104,529 108,361
--------------------------------------------------
Income (loss) from
operations 77,751 72,424 60,184 56,862 60,261
Interest and other
income (loss) 2,176 2,815 1,340 1,856 (1,754)
Gain (loss) on
investments - - (1,307) - -
Interest expense (519) (499) (513) (531) (515)
--------------------------------------------------
Income (loss)
before income taxes 79,408 74,740 59,704 58,187 57,992
Income taxes 15,705 13,584 11,085 10,602 10,553
--------------------------------------------------
Net income (loss) $63,703 $61,156 $48,619 $47,585 $47,439
--------------------------------------------------
--------------------------------------------------
Net income (loss)
per share
Basic $0.26 $0.25 $0.20 $0.19 $0.20
Diluted $0.25 $0.24 $0.19 $0.19 $0.19
---------------------------------------------------------------------
Weighted average number
of shares (000's)
Basic 249,027 247,699 245,960 244,373 242,998
Diluted 257,472 258,198 256,650 255,876 254,109
Outstanding number
of shares at the
end of the period
(000's) 251,324 249,287 247,886 246,604 244,239
---------------------------------------------------------------------
Q4 2003 Q3 2003 Q2 2003
---------------------------------------------------------------------
Revenues $380,674 $355,691 $313,492
Cost of goods sold 245,191 239,590 222,969
-------------------------------------
Gross margin 135,483 116,101 90,523
Expenses
Selling and marketing 27,628 25,696 21,354
Research and development 61,285 53,713 49,528
Administrative 10,557 10,326 9,318
Amortization of intangible assets 1,271 3,169 3,162
Stock-based compensation - - -
Other charges (recoveries) 10,440 2,288 15,996
-------------------------------------
111,181 95,192 99,358
-------------------------------------
Income (loss) from operations 24,302 20,909 (8,835)
Interest and other income (loss) 714 (1,350) 602
Gain (loss) on investments 3,844 - -
Interest expense (516) (488) (469)
-------------------------------------
Income (loss) before income taxes 28,344 19,071 (8,702)
Income taxes 6,050 4,063 715
-------------------------------------
Net income (loss) $22,294 $15,008 (9,417)
-------------------------------------
-------------------------------------
Net income (loss) per share
Basic $0.09 $0.06 ($0.04)
Diluted $0.09 $0.06 ($0.04)
---------------------------------------------------------------------
Weighted average number of
shares (000's)
Basic 240,647 238,183 237,227
Diluted 249,525 242,539 237,227
Outstanding number of shares
at the end of the period (000's) 241,742 239,267 237,297
---------------------------------------------------------------------
MARKHAM, Ontario--(BUSINESS WIRE)--Dec. 21, 2004--
Revenues increase 31% to $614 million
ATI Technologies Inc. (NASDAQ:ATYT) (TSX:ATY) today announced record financial results for the first quarter of fiscal 2005.
Quarterly revenues(1) grew 30.7% to $613.9 million from $469.7 million in the first quarter of fiscal 2004 as a result of sales increases in both the personal computer and digital consumer product lines. Gross margin percentage was 34.2%. In accordance with Canadian generally accepted accounting principles, beginning with the first quarter of fiscal 2005, ATI is expensing compensation costs associated with stock options granted to employees after September 1, 2002. Net income and net income per share including compensation costs associated with stock options were $63.7 million and $0.25 respectively, up from $47.4 million and $0.19 for last year's first quarter. Compensation costs associated with stock options in the first quarter of fiscal 2005 were $8.0 million. Net income and net income per share excluding compensation costs associated with stock options were $71.4 million and $0.28 respectively. ATI's cash position increased $71.7 million during the quarter to $620.6 million at November 30, 2004.
(1) All dollar amounts are in U.S. dollars unless otherwise noted. All per share amounts are stated on a diluted basis unless otherwise noted. ATI Technologies Inc. reports under Canadian generally accepted accounting principles (GAAP).
"We continue to demonstrate our technology and industry leadership through innovation, execution and customer focus," said David Orton, ATI's Chief Executive Officer. "This has translated into the sustained financial and operational performance we have seen over the past several quarters. Looking ahead, we believe we will continue to grow our business by helping consumers to create, connect and communicate in new ways - whether it's bringing 3D and camera features to mobile phones or high definition content to home PCs."
Outlook
Looking forward, we expect our leadership in graphics and multimedia technologies to continue to drive growth for ATI. Despite seasonal weakness in our consumer and game console businesses, we expect our revenues in the second quarter to be similar to the first quarter within a range of plus or minus $20 million - led by growth in PC graphics. We expect gross margin in the second quarter to be approximately the same as the first quarter of fiscal 2005 as improved PC margins should offset seasonal weakness of our consumer products and game console businesses. Operating expenses, excluding the expense associated with stock options, are expected to grow just over 10% relative to the first quarter due to higher prototyping costs and the foreign exchange impact of the appreciation of the Canadian dollar relative to the U.S. currency.
MANAGEMENT'S DISCUSSION AND ANALYSIS OF INTERIM FINANCIAL RESULTS
This is management's discussion and analysis of financial condition and the results of operations (MD&A) that comments on ATI's operations, financial condition and cash flows for the three months ended November 30, 2004 compared to the three months ended November 30, 2003. This MD&A should be read in conjunction with the attached unaudited financial statements for the period ended November 30, 2004, the annual MD&A contained in the 2004 Annual Report and the audited consolidated financial statements for the year ended August 31, 2004.
In this MD&A, ATI, we, us and our mean ATI Technologies Inc. and its subsidiaries.
Important Information Regarding Forward-looking Statements
Forward-looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements may include words such as "plans," "intends," "anticipates," "should," "estimates," "expects," "believes," "indicates," "targeting," "suggests" and similar expressions.
This MD&A and other sections of this news release contain forward-looking statements about ATI's objectives, strategies, financial condition and results. These "forward-looking" statements are based on current expectations and entail various risks and uncertainties. Our actual results may materially differ from our expectations if known and unknown risks or uncertainties affect our business, or if our estimates or assumptions prove inaccurate. Therefore we cannot provide any assurance that forward-looking statements will materialize. We assume no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason. Additional information concerning risks and uncertainties affecting our business and other factors that could cause our financial results to fluctuate is contained in our filings with Canadian and U.S. securities regulatory authorities, including our 2003 Annual Information Form and 2004 Annual Report filed on SEDAR at www.sedar.com.
Unless indicated otherwise, this MD&A reflects our expectations as of December 21, 2004.
Any reference to "year-over-year" in this MD&A refers to a comparison of this year's first quarter results versus the first quarter of the prior year unless otherwise noted.
RESULTS OF OPERATIONS
Revenues
First quarter revenues grew 30.7% to $613.9 million from $469.7 million in the same period a year ago. PC revenues increased just over 20% on strong sales of discrete desktop products to the add-in board (AIB) channel and from PCI Express design wins with PC Original Equipment Manufacturers (OEMs). Total notebook revenues increased by about 20% on strong sales of discrete products. This was partially offset by lower sales of integrated products, which form a growing portion of the notebook market overall and where our market share is lower than that of discrete. Handset chip revenues grew about 80% due to a growing number of design wins and robust market demand for feature phones in general. Revenues from digital television products grew dramatically based on market growth, design wins and the continued penetration of our products among top digital TV manufacturers.
Gross Margin
Gross margin percentage for the first quarter of fiscal 2005 was down 1.7 percentage points to 34.2% from 35.9% for the same period a year ago. The margin percentage for our desktop discrete products declined relative to the first quarter of the previous year primarily due to production costs associated with the introduction and ramp of our new PCI Express products. The overall margin percentage decline was partially offset by the sales growth in our consumer business, which has margins that are typically higher than our corporate average.
The royalty income we received from Nintendo for our graphics technology used in their GAMECUBE products also increased year-over-year, which has a positive impact on gross margin percentage.
Operating Expenses
In the first quarter of fiscal 2004, ATI announced a Restricted Share Unit program. A component of the program was a one-time cash payment to non-executive employees. This cash payment of $7.8 million impacted operating expense in the first quarter of fiscal 2004. This was not a factor in the first quarter of fiscal 2005.
Selling and marketing expenses increased 10.3% to $34.3 million, but declined as a percentage of revenues to 5.6% from 6.6% in the first quarter of last year. The absolute increase was related primarily to increased staffing levels for sales and technical support, which was partially offset by lower advertising costs and the cash payment in fiscal 2004 referred to above.
Administrative expenses were up 10.4% to $12.7 million from $11.5 million, but declined as a percentage of revenue to 2.1% from 2.5% in the first quarter of last year. The absolute increase was related primarily to increased staffing to support our growth, which was partially offset by lower costs associated with the cash payment in fiscal 2004 referred to above.
Research and development expenses increased 15.5% year-over-year to $73.1 million, but declined as a percentage of revenue to 11.9% from 13.5% in the first quarter of last year. The absolute increase was largely a result of adding technical staff across the organization to support our growth, but higher prototyping costs - particularly in desktop, integrated notebook and handheld devices - also contributed to the increase. These were partially offset by lower costs associated with the cash payment in fiscal 2004 referred to above.
Stock-based Compensation
In accordance with Canadian generally accepted accounting principles, effective the first quarter of fiscal 2005, ATI is expensing compensation costs associated with stock options granted to employees after September 1, 2002. This expense item, along with the expense associated with restricted share units and deferred share units, is reflected in the expense for stock-based compensation included in the attached consolidated statements of operations and retained earnings. Prior to the first quarter of fiscal 2005, the expense associated with restricted share units and deferred share units were reflected in selling and marketing, research and development and administrative expenses.
Stock-options, restricted share units and deferred share units comprise all stock-based compensation currently awarded by ATI to our employees and directors. Stock-based compensation costs were $10.6 million in the quarter as compared with $0.8 million in the same period last year. The increase in stock-based compensation was primarily related to ATI commencing the expensing of stock options in compliance with Canadian generally accepted accounting principles during the first quarter of fiscal 2005.
The $10.6 million expense in the first quarter of fiscal 2005 included $8.0 million for compensation costs associated with stock options, $2.0 million for compensation costs associated with restricted share units and $0.6 million for deferred share units.
Total Operating Expenses
Our total operating expenses reflect the operating expenses detailed earlier, as well as amortization of intangible assets and other charges. For further information on the treatment of the amortization of intangible assets, please see Note 4 to our unaudited interim consolidated financial statements.
Interest and Other Income (Loss)
Interest and other income was $2.2 million in the first quarter of 2005, compared with a charge of $1.8 million for the comparable period in fiscal 2004. The increase partially reflects investment income derived from interest on our higher cash balances. A write-down of fixed assets during the first quarter of fiscal 2004 also contributed to the increase in interest and other income this quarter relative to last year.
Net Income
Net income increased 34.3% to $63.7 million in the first quarter of fiscal 2005 from $47.4 million in the same quarter last year largely due to substantial growth in revenue. Net income per share increased to $0.25 from $0.19 over the same period. Net income and net income per share excluding the compensation costs associated with stock options described above were $71.4 million and $0.28 respectively for the first quarter of fiscal 2005.
Liquidity and Financial Resources
Inventory levels of $291.6 million at the end of the first quarter increased from $254.9 million at August 31, 2004. The increase was a result of increased sales and our need to maintain adequate levels of inventory to meet customer demands. Inventory turnover was just over our target of 60 days.
Accounts receivable were up 9.1% to $399.1 million from $365.6 at fiscal 2004 year-end. Accounts payable rose 7.6% to $295.6 million from $274.8 million at year-end. Both accounts receivable and accounts payable are at levels consistent with our business volumes.
As of November 30, 2004 we had working capital of $784.4 million compared to $694.7 million at August 31, 2004. Cash flows from operations were $66.9 million in the first quarter. Our cash position at quarter end was $620.6 million, up from $548.9 million at August 31, 2004.
Outstanding Share Data
At November 30, 2004 there were 251,323,648 common shares outstanding or 257,472,468 shares on a diluted basis.
ACCOUNTING POLICIES
Our unaudited interim consolidated financial statements are prepared according to Canadian GAAP. The key estimates and assumptions that management has made and their impact on the amounts reported in the unaudited interim consolidated financial statements and notes remain substantially unchanged from those described in our 2004 Annual MD&A, with the exception of the adoption in the first quarter of fiscal 2005 of the revised CICA Handbook Section 3870, "Stock-based Compensation and Other Stock-based Payments". See Note 1 to the unaudited interim consolidated financial statements for more information about the accounting policies used to prepare our financial statements.
SUPPLEMENTARY FINANCIAL INFORMATION
The table below shows selected financial information for the eight most recently completed quarters.
(Thousands of U.S. dollars, except per share amounts)
(Unaudited)
Q1 2005 Q4 2004 Q3 2004 Q2 2004 Q1 2004
---------------------------------------------------------------------
Revenues $613,859 $572,218 $491,457 $463,337 $469,705
Cost of goods sold 403,789 378,792 317,776 301,946 301,083
--------------------------------------------------
Gross margin 210,070 193,426 173,681 161,391 168,622
Expenses
Selling and
marketing 34,345 30,288 32,385 27,999 31,130
Research and
development 73,114 75,865 65,539 60,809 63,278
Administrative 12,676 11,517 12,166 11,532 11,487
Amortization of
intangible assets 1,244 1,486 1,546 1,541 1,542
Stock-based
compensation 10,558 1,691 2,315 2,826 751
Other charges
(recoveries) 382 155 (454) (178) 173
--------------------------------------------------
132,319 121,002 113,497 104,529 108,361
--------------------------------------------------
Income (loss) from
operations 77,751 72,424 60,184 56,862 60,261
Interest and other
income (loss) 2,176 2,815 1,340 1,856 (1,754)
Gain (loss) on
investments - - (1,307) - -
Interest expense (519) (499) (513) (531) (515)
--------------------------------------------------
Income (loss)
before income taxes 79,408 74,740 59,704 58,187 57,992
Income taxes 15,705 13,584 11,085 10,602 10,553
--------------------------------------------------
Net income (loss) $63,703 $61,156 $48,619 $47,585 $47,439
--------------------------------------------------
--------------------------------------------------
Net income (loss)
per share
Basic $0.26 $0.25 $0.20 $0.19 $0.20
Diluted $0.25 $0.24 $0.19 $0.19 $0.19
---------------------------------------------------------------------
Weighted average number
of shares (000's)
Basic 249,027 247,699 245,960 244,373 242,998
Diluted 257,472 258,198 256,650 255,876 254,109
Outstanding number
of shares at the
end of the period
(000's) 251,324 249,287 247,886 246,604 244,239
---------------------------------------------------------------------
Q4 2003 Q3 2003 Q2 2003
---------------------------------------------------------------------
Revenues $380,674 $355,691 $313,492
Cost of goods sold 245,191 239,590 222,969
-------------------------------------
Gross margin 135,483 116,101 90,523
Expenses
Selling and marketing 27,628 25,696 21,354
Research and development 61,285 53,713 49,528
Administrative 10,557 10,326 9,318
Amortization of intangible assets 1,271 3,169 3,162
Stock-based compensation - - -
Other charges (recoveries) 10,440 2,288 15,996
-------------------------------------
111,181 95,192 99,358
-------------------------------------
Income (loss) from operations 24,302 20,909 (8,835)
Interest and other income (loss) 714 (1,350) 602
Gain (loss) on investments 3,844 - -
Interest expense (516) (488) (469)
-------------------------------------
Income (loss) before income taxes 28,344 19,071 (8,702)
Income taxes 6,050 4,063 715
-------------------------------------
Net income (loss) $22,294 $15,008 (9,417)
-------------------------------------
-------------------------------------
Net income (loss) per share
Basic $0.09 $0.06 ($0.04)
Diluted $0.09 $0.06 ($0.04)
---------------------------------------------------------------------
Weighted average number of
shares (000's)
Basic 240,647 238,183 237,227
Diluted 249,525 242,539 237,227
Outstanding number of shares
at the end of the period (000's) 241,742 239,267 237,297
---------------------------------------------------------------------
-
- Mensagens: 2140
- Registado: 11/5/2003 12:11
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ATI Ships More than 5 Million Chips for High Definition TVs and
Set-top Boxes in 2004
2005 International CES MARKHAM, Ontario--(BUSINESS WIRE)--Dec. 20, 2004
ATI commands an estimated 85% market share for demodulators and 40% market share for MPEG decoders
ATI Technologies Inc. (TSX:ATY) (NASDAQ:ATYT) announced that in 2004 ATI's Digital Television division shipped more than 5 million chips for HD (high-definition) TVs and HD cable and terrestrial set-top boxes. In addition, ATI announced market leadership in ATSC/OpenCable(TM) silicon solutions with an ATI-estimated 85% market share for THEATER(TM) and NXT demodulators and a 40% market share for XILLEON(TM) MPEG decoders and display processors.
ATI's NXT, THEATER and XILLEON chips enable consumer electronics manufacturers to create a wide variety of products that feature exceptional reception and video display performance. Manufacturers also have access to ATI's extensive software support and reference designs to help them bring to market unique products that conform to worldwide industry standards.
Leading manufacturers of HD TVs and HD set-top boxes using ATI chips include:
Changhong Mitsubishi Sony
Coship Matsushita (Panasonic) TiVo
Funai (Sylvania) Philips Toshiba
Hisense Scientific-Atlanta Thomson / TTE (RCA)
Hitachi Samsung USDTV
JVC Sanyo Xoceco (PRIMA)
"ATI is providing consumer electronics manufacturers with the industry's best performing DTV and set-top chipsets," said Daniel Eiref, director of marketing for DTV Products, ATI Technologies Inc. "ATI's corporate commitment to research and development in digital television technologies is enabling our customers to deliver brilliant products while at the same time meeting the United States Federal Communications Commission mandated conversion to integrated digital reception."
ATI's product family for digital TVs and set-top boxes includes:
- NXT2003(TM)/NXT2004(TM)/NXT2005(TM) - cost-effective VSB/QAM/OpenCable reception
- THEATER(TM) 310/THEATER 313(TM) - the world's best performing VSB/QAM/OpenCable reception
- XILLEON(TM) 210VC - the only ATSC/OpenCable(TM) system-on-chip with integrated VSB and MPEG
- XILLEON(TM) 226 - the world's most popular and best performing dual high-definition MPEG decoder with integrated display processor
ATI Technologies will be exhibiting its DTV solutions at International CES 2005 at booth 3/30342 at the South Hall, Upper Level, Las Vegas Convention Center, January 6 to 9, 2005.
About ATI Technologies
ATI Technologies Inc. is the world leader in the design and manufacture of innovative 3D graphics and digital media silicon solutions. An industry pioneer since 1985, ATI is the world's foremost visual processor unit (VPU) provider and is dedicated to delivering leading-edge performance solutions for the full range of PC and Mac desktop and notebook platforms, workstation, set-top and digital television, game console and handheld device markets. With 2004 revenues of US $2 billion, ATI has more than 2,700 employees in the Americas, Europe and Asia. ATI common shares trade on NASDAQ (ATYT) and the Toronto Stock Exchange (ATY).
Copyright 2004 ATI Technologies Inc. All rights reserved. ATI and ATI product and product feature names are trademarks and/or registered trademarks of ATI Technologies Inc. All other company and product names are trademarks and/or registered trademarks of their respective owners. Features, pricing, availability and specifications are subject to change without notice.
For media or industry analyst support, visit our Web site at http://www.ati.com .
CONTACT: For media inquiries: ATI Technologies Inc. John Swinimer Public Relations Manager, Consumer Products Division (905) 882-2600, Ext. 8456 swinimer@ati.com OR Other ATI Contacts: Porter Novelli Canada Trevor Campbell, Director (416) 422-7202 trevor.campbell@porternovelli.com OR For investor relations support, please contact: ATI Technologies Inc. Janet Craig, Director, Investor Relations at (905) 882-2600, Ext. 2631 janet@ati.com www.ati.com -0- Dec/20/2004 11:00 GMT
Last Updated: December 20, 2004 06:00 EST
Set-top Boxes in 2004
2005 International CES MARKHAM, Ontario--(BUSINESS WIRE)--Dec. 20, 2004
ATI commands an estimated 85% market share for demodulators and 40% market share for MPEG decoders
ATI Technologies Inc. (TSX:ATY) (NASDAQ:ATYT) announced that in 2004 ATI's Digital Television division shipped more than 5 million chips for HD (high-definition) TVs and HD cable and terrestrial set-top boxes. In addition, ATI announced market leadership in ATSC/OpenCable(TM) silicon solutions with an ATI-estimated 85% market share for THEATER(TM) and NXT demodulators and a 40% market share for XILLEON(TM) MPEG decoders and display processors.
ATI's NXT, THEATER and XILLEON chips enable consumer electronics manufacturers to create a wide variety of products that feature exceptional reception and video display performance. Manufacturers also have access to ATI's extensive software support and reference designs to help them bring to market unique products that conform to worldwide industry standards.
Leading manufacturers of HD TVs and HD set-top boxes using ATI chips include:
Changhong Mitsubishi Sony
Coship Matsushita (Panasonic) TiVo
Funai (Sylvania) Philips Toshiba
Hisense Scientific-Atlanta Thomson / TTE (RCA)
Hitachi Samsung USDTV
JVC Sanyo Xoceco (PRIMA)
"ATI is providing consumer electronics manufacturers with the industry's best performing DTV and set-top chipsets," said Daniel Eiref, director of marketing for DTV Products, ATI Technologies Inc. "ATI's corporate commitment to research and development in digital television technologies is enabling our customers to deliver brilliant products while at the same time meeting the United States Federal Communications Commission mandated conversion to integrated digital reception."
ATI's product family for digital TVs and set-top boxes includes:
- NXT2003(TM)/NXT2004(TM)/NXT2005(TM) - cost-effective VSB/QAM/OpenCable reception
- THEATER(TM) 310/THEATER 313(TM) - the world's best performing VSB/QAM/OpenCable reception
- XILLEON(TM) 210VC - the only ATSC/OpenCable(TM) system-on-chip with integrated VSB and MPEG
- XILLEON(TM) 226 - the world's most popular and best performing dual high-definition MPEG decoder with integrated display processor
ATI Technologies will be exhibiting its DTV solutions at International CES 2005 at booth 3/30342 at the South Hall, Upper Level, Las Vegas Convention Center, January 6 to 9, 2005.
About ATI Technologies
ATI Technologies Inc. is the world leader in the design and manufacture of innovative 3D graphics and digital media silicon solutions. An industry pioneer since 1985, ATI is the world's foremost visual processor unit (VPU) provider and is dedicated to delivering leading-edge performance solutions for the full range of PC and Mac desktop and notebook platforms, workstation, set-top and digital television, game console and handheld device markets. With 2004 revenues of US $2 billion, ATI has more than 2,700 employees in the Americas, Europe and Asia. ATI common shares trade on NASDAQ (ATYT) and the Toronto Stock Exchange (ATY).
Copyright 2004 ATI Technologies Inc. All rights reserved. ATI and ATI product and product feature names are trademarks and/or registered trademarks of ATI Technologies Inc. All other company and product names are trademarks and/or registered trademarks of their respective owners. Features, pricing, availability and specifications are subject to change without notice.
For media or industry analyst support, visit our Web site at http://www.ati.com .
CONTACT: For media inquiries: ATI Technologies Inc. John Swinimer Public Relations Manager, Consumer Products Division (905) 882-2600, Ext. 8456 swinimer@ati.com OR Other ATI Contacts: Porter Novelli Canada Trevor Campbell, Director (416) 422-7202 trevor.campbell@porternovelli.com OR For investor relations support, please contact: ATI Technologies Inc. Janet Craig, Director, Investor Relations at (905) 882-2600, Ext. 2631 janet@ati.com www.ati.com -0- Dec/20/2004 11:00 GMT
Last Updated: December 20, 2004 06:00 EST
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ATI Tecnologies- ATYT - NASDAQ - Earnings para amanhã
Amanhã antes da abertura a ATI Tech vai mostrar os earnings do 1ºQ do ano fiscal de 2005.
Para já o gráfico ficou a demonstrar o interesse do lado da compra, deixo o gráfico para já, mais comentários para depois..
Para já o gráfico ficou a demonstrar o interesse do lado da compra, deixo o gráfico para já, mais comentários para depois..
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