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Industry: Email Alert RSS FeedEarnings Report: NeoMagic Corp
Computergram International, May 24, 1999
NeoMagic Corp, Santa Clara, California-based system-on-a-chip designer for graphics acceleration in notebook computers, has reported first-quarter net income down 51.2% at $3.3m on revenue up 51.7% at $72.4m. Results include a one-time charge of $5.3m stemming from the acquisition of the optical drive storage business from Mitel Corp.
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Excluding the charge, earnings per share were up 30.8% year-over-year at $0.34, matching the First Call consensus.
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