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Memory Corp turns last year's loss into Q2 profit

Jump in sales of 370 per cent helps somewhat

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Second quarter figures from Memory Corp tell a happier tale than this time last year. For Q2 99, MemCorp turned a loss of $926,000 (Q2 98) into an operating profit of $474,000. Profit after tax was $52,000. Year-on-year turnover was up from $10.8 million last Q2 to an impressive $40.1 million for the three months ending 2 July this year. That represents an increase of 370 per cent on last year and 11 per cent up on the previous quarter. The company pointed to the release of its FSC2 Flash Controller as one of the quarter's high spots and forecast big sales for its MP3-GO ahead of Christmas. The company's chief executive, David Savage, said: "I am pleased to report that Memory has continued to make progress in the execution of its stated goals during the first eight months on EASDAQ." ®

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