ATI Reports Fourth Quarter and Fiscal 2005 Results
ATI Technologies Inc. today announced financial results for the fourth quarter and fiscal year ended August 31, 2005. These results are in line with the preliminary results announced on August 29, 2005. Shares of ATI (ATYT) are trading up $0.93 (7.01%) per share at the noon trading hour.
Revenues for the fourth quarter were $470 million, a $60 million decline relative to the third quarter of fiscal 2005. Gross margin percentage was 9.0% including a $67 million inventory write-down taken in the quarter. Excluding this write-down, gross margin was 23.3%. Net loss for the quarter was $104 million ($0.41 per diluted share). Stock-based compensation costs in the quarter totaled $11.2 million. Excluding the inventory write-down of $67 million and stock-based compensation costs and related taxes, the net loss for the quarter was $29 million or $0.12 per share.
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