The Company posted a net profit of $412,000, or $0.04 per basic and diluted share, for the quarter, compared to a net loss of $60,000, or $0.01 per share, in the preceding quarter.
The improved results were due primarily to sales of the Companyis new broadband Cable/DSL Internet router products, and streamlined operations.
Net income improved by $844,000, from a net loss of $432,000 in the fourth quarter of fiscal 1999, to net income of $412,000 in the fourth quarter of fiscal 2000, despite a 17% reduction in revenues over the same period. The improved earnings were due primarily to reduced operating expenses. The decline in revenue from the prior year was due primarily to the Companyis refocus from older Apple adapter products to newer, high-growth technologies.
Revenues totaled $29.3 million for fiscal 2000; a decrease of 22 percent as compared with $37.5 million for the same period a year ago. However gross profit for fiscal 2000 was $10.7 million representing an increase of $5.8 million, or 117%, from $4.9 million in the prior year. Gross margin improved to 37% in fiscal 2000, compared to 13% in the prior year. In addition, net income for fiscal 2000 was $392,000, or $0.04 per basic and diluted share, compared to a net loss of $14.2 million, or $1.53 per share, in the prior year. The improved earnings for fiscal 2000, compared to fiscal 1999, was due to the Companyis improved margins and effective expense controls.
You can find more information about Asantéis performance at its Web site.