ATI Reports Record Quarterly Results

No_Style · Dec 21, 2004, 05:32 PM

MARKHAM, ON – December 21, 2004 – ATI Technologies Inc. (TSX: ATY, NASDAQ:ATYT) today announced record financial results for the first quarter of fiscal 2005.Quarterly revenues1 grew 30.7% to $613.9 million from $469.7 million in the first quarter of fiscal 2004 as a result of sales increases in both the personal computer and digital consumer product lines. Gross margin percentage was 34.2%. In accordance with Canadian generally accepted accounting principles, beginning with the first quarter of fiscal 2005, ATI is expensing compensation costs associated with stock options granted to employees after September 1, 2002. Net income and net income per share including compensation costs associated with stock options were $63.7 million and $0.25 respectively, up from $47.4 million and $0.19 for last year’s first quarter. Compensation costs associated with stock options in the first quarter of fiscal 2005 were $8.0 million. Net income and net income per share excluding compensation costs associated with stock options were $71.4 million and $0.28 respectively. ATI's cash position increased $71.7 million during the quarter to $620.6 million at November 30, 2004.

"We continue to demonstrate our technology and industry leadership through innovation, execution and customer focus," said David Orton, ATI's Chief Executive Officer. “This has translated into the sustained financial and operational performance we have seen over the past several quarters. Looking ahead, we believe we will continue to grow our business by helping consumers to create, connect and communicate in new ways – whether it’s bringing 3D and camera features to mobile phones or high definition content to home PCs.”
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Read More/Source: ATI

No_Style · Dec 21, 2004, 05:33 PM

Does this mean Terry and the gang get bigger X-Mas bonuses?

Congrats, ATI.

T-Metal · Dec 21, 2004, 05:40 PM

No, this will mean MUCH better Linux support for ATI GPU's... :|

Praetorian · Dec 21, 2004, 06:19 PM

hopefully it means that the stuff will be in stock soon and shipped.

kelston · Dec 21, 2004, 10:00 PM

I want to know why no one is wondering how they're reporting a record profit for the first quarter of 2005 when the 4th quarter of 2004 isn't even over yet.

MitchRapp · Dec 21, 2004, 10:03 PM

very glad to see a canadian company doing well in computers ... u think if I visit them in markham they'll like.... toss me a couple of high-end video cards?

The_Neon_Cowboy · Dec 22, 2004, 04:38 AM

they could of made twice that if they wer able to get more cards out the door....

Chubby_C · Dec 23, 2004, 04:02 AM

Quote:

Originally Posted by pepiman

very glad to see a canadian company doing well in computers ... u think if I visit them in markham they'll like.... toss me a couple of high-end video cards?

I can tell you that wouldn't happen, I show up here everyday and it doesn't happen for me

Dec 21, 2004, 05:32 PM	#1
No_Style Styleless Wonder Join Date: Jun 2002 Location: Ottawa, Ontario Posts: 6,034 Rep Power: 0	ATI Reports Record Quarterly Results MARKHAM, ON – December 21, 2004 – ATI Technologies Inc. (TSX: ATY, NASDAQ:ATYT) today announced record financial results for the first quarter of fiscal 2005.Quarterly revenues1 grew 30.7% to $613.9 million from $469.7 million in the first quarter of fiscal 2004 as a result of sales increases in both the personal computer and digital consumer product lines. Gross margin percentage was 34.2%. In accordance with Canadian generally accepted accounting principles, beginning with the first quarter of fiscal 2005, ATI is expensing compensation costs associated with stock options granted to employees after September 1, 2002. Net income and net income per share including compensation costs associated with stock options were $63.7 million and $0.25 respectively, up from $47.4 million and $0.19 for last year’s first quarter. Compensation costs associated with stock options in the first quarter of fiscal 2005 were $8.0 million. Net income and net income per share excluding compensation costs associated with stock options were $71.4 million and $0.28 respectively. ATI's cash position increased $71.7 million during the quarter to $620.6 million at November 30, 2004. "We continue to demonstrate our technology and industry leadership through innovation, execution and customer focus," said David Orton, ATI's Chief Executive Officer. “This has translated into the sustained financial and operational performance we have seen over the past several quarters. Looking ahead, we believe we will continue to grow our business by helping consumers to create, connect and communicate in new ways – whether it’s bringing 3D and camera features to mobile phones or high definition content to home PCs.” _______________ Read More/Source: ATI __________________ "The Best Style Is No Style" Specifications Here

Dec 21, 2004, 05:33 PM	Thread Starter #2
No_Style Styleless Wonder Join Date: Jun 2002 Location: Ottawa, Ontario Posts: 6,034 Rep Power: 0	Does this mean Terry and the gang get bigger X-Mas bonuses? Congrats, ATI. __________________ "The Best Style Is No Style" Specifications Here

Dec 21, 2004, 06:19 PM	#4
Praetorian DriverHeaven Newbie Join Date: Dec 2004 Posts: 10 Rep Power: 0	hopefully it means that the stuff will be in stock soon and shipped. __________________ AMD 64 3500+ NewCastle-STOCK 1 GIG OCZ PC3200-STOCK Abit AV8 K8T800 Pro Saphire X800 pro 500 watt psu

Dec 22, 2004, 04:38 AM	#7
The_Neon_Cowboy HardwareHeaven Extreme Member Join Date: Dec 2002 Location: U.S.A. Posts: 16,009 Rep Power: 92 System Specs	they could of made twice that if they wer able to get more cards out the door.... __________________

Dec 21, 2004, 05:40 PM	#3
T-Metal ****** Join Date: Oct 2003 Posts: 46 Rep Power: 0	No, this will mean MUCH better Linux support for ATI GPU's... :\|

Dec 21, 2004, 10:00 PM	#5
kelston HardwareHeaven Addict Join Date: May 2003 Location: Bayside, NY USA Posts: 360 Rep Power: 0	I want to know why no one is wondering how they're reporting a record profit for the first quarter of 2005 when the 4th quarter of 2004 isn't even over yet.

Dec 21, 2004, 10:03 PM	#6
MitchRapp a.k.a. pepiman Join Date: Dec 2004 Location: Montreal Posts: 998 Rep Power: 51 System Specs	very glad to see a canadian company doing well in computers ... u think if I visit them in markham they'll like.... toss me a couple of high-end video cards?