|
Cyrix earnings soar 230%
|
 |
April 16, 1997: 8:34 p.m. ET
Chip maker's revenues jumped on strength of MediaGX sales
|
NEW YORK (CNNfn) - Cyrix Corp. reported Wednesday that first quarter earnings soared to well above analysts' forecasts thanks to demand for its new processor, higher gross margins and enhanced manufacturing efficiencies.
The computer chip maker said net income was $6.6 million or 33 cents a share, compared to $2 million, or 10 cents in the first quarter a year ago.
The company, based in Richardson, Texas, said revenues surged 47 percent to $75.6 million in the quarter ended March 31.
Jay Swent, chief financial officer and acting CEO, attributed the strong performance to the success of Cyrix's MediaGX processors.
"Stronger than planned unit shipment performance at the end of the quarter helped us exceed our profit goals," he said. "We improved our cash position and ended the quarter with more than $126 million in cash and investments."
Cyrix made strides in the low-budget computer market with its MediaGX processor after running into trouble convincing computer makers to adopt its 6x86 chip over Intel's Pentium microprocessor.
The MediaGX is featured in computers made by Compaq and others for the under- $1,000 market. 
|
|
|
|
|
|
Welcome to Cyrix
|
Note: Pages will open in a new browser window
External sites are not endorsed by CNNmoney
|
|
|
|
 |
|
