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Revenues were $5.3M, up 49% from 1Q03, for a loss of $2.8M ($0.15/share), down from a loss of $3.4M ($0.18/share) last year
April 29, 2004
2 Min Read
YAKUM, Israel -- Metalink Ltd. (NASDAQ: MTLK), a global provider and developer of high performance wireline and wireless broadband communication silicon solutions, today announced results for the first quarter of 2004.
For the first quarter ended March 31, 2004, Metalink reported revenue of $5,312,000, a 13% increase compared to $4,682,000 in the fourth quarter of 2003, and a 49% increase compared to $3,570,000 for the first quarter of 2003. Metalink reported a loss of $2.8 million, or $0.15 per share, for the first quarter of 2004, compared to a loss of $3.0 million, or $0.16 per share, for the fourth quarter of 2003 and a loss of $3.4 million, or $0.18 per share, for the first quarter of 2003.
The Company’s cash, cash equivalents, short and long term investment position at the end of the first quarter of 2004 was $61 million, compared to $64.2 million at the end of the fourth quarter of 2003, and $70.1 million at the end of the first quarter of 2003.
“We are pleased with our financial results for the first quarter of 2004 that reflect records in significant financial metrics combined with strong booking activity,“ said Mr. Tzvi Shukhman, Metalink’s Chairman and CEO.
Record results for the first quarter include:
Highest revenue ($5.3 million) recorded in the last 11 quarters
Highest gross margin (50.3 percent) recorded in the last 10 quarters
Lowest loss ($2.8 million) recorded in the last 11 quarters - despite the acceleration of our plans to become a dominant player in the High Throughput 802.11n Wireless LAN market.
“These improvements are the result of the demand for our VDSL and symmetric DSL products worldwide,” noted Mr. Shukhman.
“We are cautiously optimistic that our VDSL leadership, together with the solid demand for our symmetric DSL products, will allow us to improve revenues during 2004 starting in the second quarter. As a result, our revenue guidance for the second quarter of 2004 is $4.8 million to $6.1 million. This guidance is based on the following:
In Korea, our unrivaled Long Reach Total-VDSL™ has the potential to further accelerate VDSL deployment,
In Japan, our VDSLPlus™ is the best performing 100Mbps solution and has been selected by top-tier equipment manufacturers there – positioning Metalink well to address major deployment plans announced by the largest operators in that country,
In Canada, where Metalink is the dominant VDSL supplier, additional expansion of VDSL shipment by Motorola and also from initial shipment by a second, undisclosed, top-tier North-American equipment vendor.
We expect our revenues to continue to improve thorough the remainder of 2004 and beyond as result of:
Acceleration of our existing VDSL deployments.
Expansion of our VDSL deployments to China and North America.
Our WLANPlus™ 802.11n products hitting the market early in 2005,” concluded Mr. Shukhman.
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