Feeds

Memory Corp continues comeback route

Confident of Q4 break-even

  • alert
  • submit to reddit

Mobile application security vulnerability report

Memory Corporation coined the really neat idea of repairing and selling damaged DRAM chips, but new prices plummeted and the bottom fell out of Memory’s market. The Scottish company could have been history, but it had a makeover and looks to be staging a stylish comeback. CEO David Savage said earlier this year that Memory would post an operating profit for the first time in three years, and while Friday’s third quarter results were written in red, a £710,000 loss versus £1.2 million last year, gross profit was £800,000. Turnover grew from £10.2 million to £11.4 million, higher than the £10.2 million reported for the first six months of 1998, and Savage said the company is seeing significant progress on all fronts. He expects to report a breakeven profit in the fourth quarter, and the outlook for 1999 is encouraging. “We’ve won’t make number forecasts but we are confident of breaking even,” he said, and the one-time DRAM repairer remains committed to an EASDAQ listing this autumn. It’s not so long ago that Memory went to market for fresh working capital, raising £4.5 million through a rather controversial rights issue to fund product development and make the transition to an intellectual property company. Alongside that diversification, and core to its high expectations, is the performance of Dtec Memory Corp, a 51% joint venture formed with Datrontech Plc. The integration of Memory Plus and Datrontech Hong Kong in July is now complete, and the subsidiary is performing well ahead of expectations. “Established in February it’s been in profit ever since,” said Savage. Memory has new licence agreements with Toshiba, Taiwan’s Vincon and Modern Media Memory, and new product developments are picking up speed with release of the V6 Synchronous VCM ASIC and FLASH card controllers. Savage expects DRAM prices to pick up sometime in 1999, and he backs Rambus as the next generation technology that will shape the industry. He said: “We’re committed to it but life will become more difficult for smaller and niche companies because of the high investment and the need for critical mass.” ®

The Power of One Brief: Top reasons to choose HP BladeSystem

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
Amazon Reveals One Weird Trick: A Loss On Almost $20bn In Sales
Investors really hate it: Share price plunge as growth SLOWS in key AWS division
Bose says today is F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
Chips are down at Broadcom: Thousands of workers laid off
Cellphone baseband device biz shuttered
prev story

Whitepapers

Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Seven Steps to Software Security
Seven practical steps you can begin to take today to secure your applications and prevent the damages a successful cyber-attack can cause.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.