Feeds

S3 revenues rise

But they're a long way off its pre-Diamond merger expectations

  • alert
  • submit to reddit

Mobile application security vulnerability report

Digital media company S3 yesterday saw its second quarter revenues rise almost 137 per cent to $135.8 million, but experienced a widening loss of $36.3 million on the back of the spin-off and closure of two of its subsidiaries.

For Q2 2000, S3 lost $12.1 million (13 cents a share). That's almost as much as the company lost in the first six months of 1999, let alone just a quarter. Add to that $6 million in charges relating to the spin-off of RioPort.com, $7.2 million from the cost of shutting down its Diamond graphics card operation and $11 million worth of other, unspecified one-off charges, and S3's loss for the quarter ballooned to $36.3 million.

For the three months to 30 June 2000, the company's net revenues hit $135.8 million, up from $57.3 million for the same period last year.

Combining the company's first two quarters, S3 saw revenues of $297.5 million, which is better than the $101.6 million it recorded for the same period last year, but rather less than it needs if it's to meet chairman and CEO Ken Potashner's pre-Diamond Multimedia merger boast that the combined companies could easily generate full year revenues of over $1 billion.

If he's to achieve that figure, it will be through the Rio, he believes. "We exited the quarter with continued positive developments for our Rio, home networking and communications products," he said. "S3 has created a dominant brand in the digital media market through our Rio product line and is continuing to add the strategic partners and develop the technology roadmap that can support this brand leadership position." ®

Related Stories

S3 closes Diamond graphics board biz
S3 admits Taiwan rejected chip sale to Via

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
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
Twitch rich as Google flicks $1bn hitch switch, claims snitch
Gameplay streaming biz and search king refuse to deny fresh gobble rumors
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.