ATI Technologies announces record sales and earnings for the first quarter 1996.THORNHILL, Ontario--(BUSINESS WIRE)--Jan. 10, 1996--ATI TECHNOLOGIES INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :ATY ATY Air Textured Yarn (textile) ATY Watertown, SD, USA (Airport Code) ATY After-Tax Yield ) ATI Technologies “ATI” redirects here. For other uses, see Ati. ATI Technologies U.L.C. ATI is a major Canadian designer and supplier of graphics processing units, motherboard chipsets, and video display cards. Inc. announced today sales of $119.3 million for the first quarter of fiscal 1996 ended November 30, 1995, compared with sales of $72.7 million for the first quarter of fiscal 1995. The Company reported net income of $6.8 million, or $0.14 per share, compared with $4.1 million, or $0.09 per share for the same period last year. First quarter results reflect increasing market penetration Noun 1. market penetration - the extent to which a product is recognized and bought by customers in a particular market penetration - the act of entering into or through something; "the penetration of upper management by women" of ATI's products in the European market. Sales in the first quarter represent the highest sales level achieved in any fiscal quarter to date and the first time that quarterly sales have exceeded the $100 million level. Gross margin as a percentage of sales in the first quarter of fiscal 1996 was 25.2 percent, compared with 23.6 percent in the previous quarter and 26.1 percent in the first quarter of fiscal 1995. In the first quarter of fiscal 1996, OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and sales (principally board level products) as a percentage of total sales were higher than in the first quarter of fiscal 1995. Gross margins on OEM board sales are generally lower than gross margins on Distribution sales. During the first quarter of fiscal 1996, the Company announced several new products and technologies including, ATI's new video playback driver software that supports MPEG (Moving Pictures Experts Group) An ISO/ITU standard for compressing digital video. Pronounced "em-peg," it is the universal standard for digital terrestrial, cable and satellite TV, DVDs and digital video recorders (DVRs). motion video playback under Windows 95 and Windows 3.1. MPEG is a popular compression standard used in game, education and entertainment applications such as Video, CD, Karaoke karaoke (Japanese; “empty orchestra”) Use of a device that plays instrumental accompaniments to songs with the vocal tracks removed, permitting the user to sing the lead. and reference materials. It provides higher quality images and higher rates of compression than have been available up to the present. The Company also unveiled its Enhanced Visual Architecture (EVA Eva to marry winner of singing contest. [Ger. Opera: Wagner, Meistersinger, Westerman, 225–228] See : Prize 1. Eva - A toy ALGOL-like language used in "Formal Specification of Programming Languages: A Panoramic Primer", F.G. ) to meet the changing technical marketing and logistical lo·gis·tic also lo·gis·ti·cal adj. 1. Of or relating to symbolic logic. 2. Of or relating to logistics. [Medieval Latin logisticus, of calculation needs of the multimedia PC. At the same time, ATI (ATI Technologies Inc., Markham Ontario, http://ati.amd.com) A leading manufacturer of graphics chips and display adapters. Founded in 1985 by K. Y. Ho, Benny Lau and Lee Lau, ATI chips and boards are widely used by OEMs. introduced the first two products to support the EVA. These were the ATI-264CT and the ATI- 264VT components, based on ATI's first integrated component product. The VT component offers the same superior 2D graphics and video acceleration as the CT component, while adding significant enhancements such as full screen, full motion TV-quality video playback and DirectDraw support for arcade quality PC gaming. ATI also introduced the ATI-MM900 component, a low-cost TV-quality MPEG decoder Software or hardware that decompresses and renders MPEG-encoded data. Because MPEG uses lossy compression, the decoded images are not 100% identical to the original. In most cases however, the differences are not easily detectable. See MPEG. . "ATI's goal is to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. emerging trends, and to solidify so·lid·i·fy v. so·lid·i·fied, so·lid·i·fy·ing, so·lid·i·fies v.tr. 1. To make solid, compact, or hard. 2. To make strong or united. v.intr. its position as a leading global supplier of PC enhancement products." said KY Ho, President. "The Company has a focused growth strategy for developing both product and geographic markets." ATI Technologies Inc. designs and manufactures products for the Intel-compatible personal computer and Apple PCI (1) (Payment Card Industry) See PCI DSS. (2) (Peripheral Component Interconnect) The most widely used I/O bus (peripheral bus). Power Macintosh See Power Mac. (computer) Power Macintosh - Apple Computer's personal computer based on the PowerPC, introduced on 1994-03-14. Existing 680x0 code (both applications and device drivers) run on Power Macintosh systems without modification via a Motorola 68LC040 emulator. markets. These products include graphics accelerators A display adapter that performs a specialized set of graphics functions to render an image on screen. Today, all display adapters provide basic rendering functions in hardware, but many have graphics processing units (GPUs) that are sophisticated computers. and components and video hardware and software. The Company employs over 700 people worldwide and has a product line that is sold through an international network of computer manufacturers and leading computer distributors. ATI Technologies Inc. common shares trade on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. , under the stock symbol "ATY". -0- ATI TECHNOLOGIES INC. CONSOLIDATED STATEMENT OF OPERATIONS AND RETAINED EARNINGS Fiscal 1996 (Thousands of dollars, except per share amounts)
Three months ended November 30
(unaudited)
1995 1994
(percent) (percent)
-------- ------- ------- ------
Sales $119,339 100.0 $72,710 100.0
Cost of goods sold 89,241 74.8 53,759 73.9
------- ------
30,098 25.2 18,951 26.1
Expenses
Selling 9,451 7.9 5,863 8.1
Research and
development 6,799 5.7 4,109 5.7
Administrative 4,017 3.4 3,033 4.2
Interest 25 0.0 253 0.4
------ ------
20,292 17.0 13,258 18.3
------ ------
9,806 8.2 5,693 7.8
Other income 359 0.3 648 0.9
------ ------
Income before income
taxes 10,165 8.5 6,341 8.7
Income taxes 3,355 2.8 2,219 3.1
------ ------
Net income $6,810 5.7 $4,122 5.6
-------- ------- ------- ------
Earnings per share $0.14 $0.09
-------- ------- ------- ------
Retained earnings
Retained earnings- $21,213 $5,345
beginning of period
Net income for the
period 6,810 4,122
------- -------
Retained earnings -
end of period $28,023 $9,467
-------- ------- ------- -------
ATI TECHNOLOGIES INC. CONSOLIDATED BALANCE SHEET Fiscal 1996 (Thousands of dollars)
At November 30 At August 31
1995 1994 1995
---------------------------------
Assets (unaudited) (audited)
Current assets
Cash and short-term
investments $16,349 $22,658 $30,845
Accounts receivable 75,416 48,090 58,175
Current portion of
investment tax credits - 1,700 -
Inventories 59,671 46,202 54,967
Prepayments and sundry
receivables 7,341 4,594 4,772
---------------------------------
158,777 123,244 148,759
Long term portion of
investment tax credits 6,209 5,882 7,833
Capital assets 23,437 19,739 22,013
Deferred income taxes - 1,702 -
---------------------------------
$ 188,423 $ 150,567 $178,605
---------------------------------
Liabilities and shareholders' equity
Current liabilities
Bank indebtedness $ 6,400 $18,828 $12,425
Accounts payable and
accrued liabilities 52,358 24,263 43,479
Taxes payable 136 51 200
---------------------------------
Total current liabilities 58,894 43,142 56,104
Deferred income taxes 3,350 - 3,200
Shareholders' equity
Share capital 98,156 97,958 98,088
Retained earnings 28,023 9,467 21,213
---------------------------------
Total shareholders' equity 126,179 107,425 119,301
---------------------------------
Total liabilities and
shareholders' equity $ 188,423 $ 150,567 $178,605
---------------------------------
CONTACT: Lance McIntosh, 905/882-2600 ext. 8306 |
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