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Tech Industry

Earnings Roundup: Atmel, C-Cube surprise analysts

    Atmel Corp. (Nasdaq: ATML) became the latest semiconductor manufacturer to beat Street estimates in its fourth quarter Thursday, pocketing $33 million, or 16 cents a share, on sales of $388.7 million.

    First Call consensus expected it to earn 13 cents a share in the quarter.

    Atmel shares closed up 15/16 to 34 15/16 ahead of the earnings report.

    In the year-ago quarter, Atmel earned $9.9 million, or 5 cents a share, on sales of $288.7 million.

    For the year, Atmel earned $82.4 million, or 40 cents a share, on sales of $1.33 billion compared to a loss of $50 million, or 25 cents a share, on sales of $1.11 billion in fiscal 1998.

    "This quarter finishes a very successful year for Atmel," said CEO George Perlegos in a prepared release. "We are pleased by the increasing number of customers who are using Atmel's wide range of products, particularly in the wireless telecommunication end market."

    Atmel shares hit a 52-week high of 35 1/16 earlier this quarter after falling to a low of 6 13/16 in February.

    Among other technology companies reporting earnings Thursday:

  • C-Cube Microsystems Inc. (Nasdaq: CUBE) also topped analysts' estimates in its fourth quarter, raking in $18.6 million, or 40 cents a share, on sales of $115.7 million.

    First Call consensus expected it to earn 37 cents a share in the quarter.

    C-Cube shares closed up 4 to a 52-week high of 73 7/8 ahead of the earnings report.

    "Our fourth-quarter financial performance highlights an excellent year for C-Cube," said CEO Alexandre Balkanski in a prepared release.

    In the year-ago quarter, C-Cube made $12.4 million, or 31 cents a share, on sales of $95.8 million.

    For the year, it earned $57.2 million, or $1.30 a share, on sales of $407.6 million compared to a profit of $46.3 million, or $1.11 a share, on sales of $351.8 million in fiscal 1998.

    C-Cube shares hit a 52-week low of 17 1/4 in March.

  • VeriSign Inc. (Nasdaq: VRSN) doubled analysts' estimates in its fourth quarter Thursday, earning $4.5 million, or 4 cents a share, on sales of $27.7 million.

    First Call consensus expected the Internet security software maker to earn 2 cents a share in the quarter.

    Its shares closed up 13 7/8 to 209 ahead of the earnings report.

    "We believe that we are well-positioned to extend our leadership in 2000 as we execute on our strategy of providing a comprehensive set of Internet trust services," said CEO Stratton Sclavos in a prepared release. "The strategies include authentication, payment and validation to both the business-to-business and business-to-consumer markets."

    In the year-ago quarter, VeriSign posted sales of $13.2 million.

    Its shares peaked at 212 in December after bottoming out at 18 last January.

  • PMC-Sierra Inc. (Nasdaq: PMCS) slid past Street estimates in its fourth quarter Thursday, earning $22.5 million, or 29 cents a share, on sales of $80.6 million.

    Analysts were expecting a profit of 27 cents a share in the quarter.

    PMC-Sierra shares closed up 4 to 174 1/2 ahead of the earnings report.

    In the year-ago quarter, PMC-Sierra earned $9.7 million, or 14 cents a share, on sales of $45.4 million.

    PMC-Sierra shares stormed up to a 52-week high of 176 1/4 earlier this month after falling to a low of 31 15/16 last January.

    First Call consensus expects it to earn $1.29 a share in the fiscal year.