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Short Take: S3 takes charges, revenue falls

S3 reported fourth-quarter revenues of $101.9 million, down from $127.9 million last year. Net income for the quarter before charges was $1.7 million, or 3 cents per share. Including charges, net loss was $8.1 million, or 16 cents per share, compared to a net income of $14.6 million, or 30 cents a share, reported a year ago. The charges of $17.2 million represented the write-off of intangible assets in the company's attempt to focus on its core graphics business.

S3 reported fourth-quarter revenues of $101.9 million, down from $127.9 million last year. Net income for the quarter before charges was $1.7 million, or 3 cents per share. Including charges, net loss was $8.1 million, or 16 cents per share, compared to a net income of $14.6 million, or 30 cents a share, reported a year ago. The charges of $17.2 million represented the write-off of intangible assets in the company's attempt to focus on its core graphics business.