Tech Industry

Short Take: NeoMagic reports earnings

Embedded chip developer NeoMagic reported that its net sales for the fiscal year ended January 31 totaled $124.7 million, a 206 percent increase over year-ago figures. Net income for the quarter was $8.2 million, or 31 cents per diluted share, compared with $1 million, or 5 cents per diluted share, reported for the corresponding quarter in fiscal 1997. NeoMagic's net income for the year was $20.8 million, compared with a net loss of $1.2 million reported for the previous year.

Embedded chip developer NeoMagic reported that its net sales for the fiscal year ended January 31 totaled $124.7 million, a 206 percent increase over year-ago figures. Net income for the quarter was $8.2 million, or 31 cents per diluted share, compared with $1 million, or 5 cents per diluted share, reported for the corresponding quarter in fiscal 1997. NeoMagic's net income for the year was $20.8 million, compared with a net loss of $1.2 million reported for the previous year.