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ATI Reports Results for Third Quarter of Fiscal 2006

ATI Technologies Inc. today announced financial results for the third quarter of fiscal 2006 ended May 31, 2006. Revenues for the third quarter were $652.3 million. Gross margin percentage was 30.1%. Net income determined in accordance with Canadian generally accepted accounting principles (GAAP) for the quarter was $31.9 million ($0.12 per diluted share). Non-GAAP adjusted net income for the quarter was $42.5 million ($0.16 per diluted share). Shares of ATI (ATYT) are down for the day trading at $14.31 per share, which is down -$1.19 (-7.68%).

PC revenues increased 8.5% year-over-year to $499.7 million. Sales of desktop and notebook integrated products increased more than 200% year-over-year with the continued success of the Radeon Xpress 200 product line. The increase in sales of integrated products was partially offset by an approximate 15% decline in sales of desktop discrete products due to lower average selling prices resulting from a mix shift towards mainstream and value products in the add-in-board (AIB) channel. On a sequential basis, desktop discrete sales declined approximately 10% reflecting a seasonal decline in the market for discrete GPUs. Sales of notebook discrete solutions were also lower year-over-year as a result of the increased use of integrated graphics in notebook platforms.

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Posted by | Thu, Jun 29, 2006 - 08:33 AM