Dow Jones Business News Taiwan SiS/Results: Fiscal Year Loss Worse Than Expected Friday February 14, 3:55 am ET
On a per share basis last year, the company lost NT$3.10, compared with NT$ 0.74 in 2001. The one-time payments were related to technology licenses from International Business Machines Corp. (NYSE:IBM - News) and Toshiba Corp. , SiS said.
The losses, which were worse than analysts' expectations of around NT$2 billion, came despite a 58% rise in revenue last year to NT$15.76 billion.
SiS said revenue rose as it cut prices on its chipset products to gain market share.
The company also gained as one of its main competitors, Taiwan's VIA Technologies Inc. , lost market share due to its inability to gain a technology license from Intel Corp. (NasdaqNM:INTC - News) to make chipsets for the popular Pentium 4 series of central processors, according to analysts.
Silicon Integrated said fourth-quarter's losses, almost triple that of its NT$ 808 million loss in the third quarter, translated into a loss per share of NT$ 2.27.
The company didn't provide year-on-year comparisons for the fourth quarter. It originally reported an unaudited loss of NT$40 million in the fourth quarter of 2001, and a company official said Friday that on a pretax basis, the company's loss in the fourth quarter of 2001 totaled NT$531 million.
Revenue in the fourth quarter rose to NT$4.89 billion from the third quarter's NT$4.07 billion.
SiS said its gross margin last year fell to 21% from 26% in 2001 as its prices came down. In the fourth quarter it was 17%.
It said utilization in its semiconductor wafer fabrication plant was 100% in the fourth quarter and it wasn't able to fill all the orders it had.
-By Dan Nystedt and J.R. Wu, Dow Jones Newswires; 8862-2502-2557; email@example.com