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ATI Technologies delivers in 2Q

Graphic-chip maker ATI Technologies Inc. (Nasdaq: ATYT) topped analysts' estimates by 2 cents a share in its third quarter Thursday, earning $35.9 million, or 17 cents a share, on sales of $302 million.

First Call consensus expected the Canadian firm to earn 15 cents a share in the quarter.

In the year-ago quarter, ATI earned $26.5 million, or 12 cents a share.

The stock closed off 7/16 to 16 5/16 Thursday.

"Another good quarter: makes everybody happy," said CEO K.Y. Ho in a prepared release.

The company bought Chromatic Research Inc. in November 1998. As a result it took a charge of $17 million or 8 cents a share, accounting for the amortization of research and development, and other acquisition costs.

Including those charges, ATI earned 9 cents a share in the quarter..

The stock surged to a 52-week high of 18 1/2 in February after falling to a low of 9 3/16 in December.

Five of the six analysts following the stock rate it either a "buy" or "strong buy.">