Profits arrive for Memory Corporation

Memory Corporation recorded its first pre-tax profit for the quarter ended 31 March. The Scottish semiconductor company saw pre-tax profit reach $6,482 for the first quarter. This was up on the $1.2 million loss for the same period last year. Sales soared to $36.1 million for the recently EASDAQ-listed company, from $6.05 million the year before. David Savage, Memory Corp CEO, said: "I am pleased to report that Memory has continued to make progress in the development of our business model, strategy and financial performance in our first full quarter on EASDAQ." He added: "We expect to continue this progress into Q2 and the outlook for the company remains very positive." Memory Corp is based in Dalkeith, Scotland, with sales and marketing offices in California and Taiwan. The company moved from its AIM listing in November 1998. Last month it bought out Datrontech’s 49 per cent stake in their joint venture company DTEC Memory Corp. ®