Computer Access Technology Losses $(0.13) Per Share on Revenue of $3.5 Million for Q4 2002
1/31/2003 - Computer Access Technology Corporation [CATC] (Nasdaq: CATZ), a communication protocols expert company, reported financial results for the fourth quarter ended December 31, 2002. Revenue for the fourth quarter of 2002 was $3.5 million, compared to $3.4 million for the fourth quarter of 2001 and $4.0 million for the third quarter of 2002. The Company reported an operating loss of $1.9 million for the fourth quarter of 2002. Combined with net other income of $200,000 and a tax provision of $759,000, the resulting net loss was $2.5 million, or $(0.13) per share, as compared to net loss of $1.2 million, or $(0.06) per share in the fourth quarter of 2001.
For the fourth quarter of 2002, the Company's gross profit margin was 76.6% as compared to gross profit margin of 69.3% in the fourth quarter of 2001. For the fourth quarter of 2002, cost of revenue totaled $822,000, including $142,000 for the amortization of existing technology. The Company's operating expenses totaled $4.6 million, including a restructuring charge of $365,000 associated with a reduction in force of approximately 21% of personnel and additional operating expense reduction programs.
Dan Wilnai, President and Chief Executive Officer, said: "We have recently taken decisive action to reduce our operating cost structure and strengthen our already solid financial foundation. We have aligned our cost structure with the current economic realities and I believe that CATC is now in a position to leverage its solid financial foundation, dedicated employees and world class products to meet CATC's profitability goals."
During the fourth quarter of 2002 and in recent weeks, we announced the release of the following new products:
- FCTracer. The FCTracer is a powerful Fibre Channel protocol analyzer that delivers sophisticated triggering, high-level decoding and expert analysis for Fibre Channel networks and devices. With the FCTracer CATC expands its expertise in storage protocols to include Fibre Channel, in addition to Infiniband, SCSI and Serial ATA. Using the intuitive and powerful CATC Trace software, FCTracer delivers sophisticated triggering, high-level decoding and expert analysis for Fibre Channel networks and devices. FCTracer simplifies the interpretation and debug of Fibre Channel traffic by providing extensive upper-level protocol decoding and easy access to packet level detail. Throughput problems and anomalies can be easily identified with detailed real-time performance monitoring and statistics.
- BTTracer/Trainer(TM). The BTTracer/Trainer(TM), an Advanced Bluetooth Verification System, was designed as a powerful top-of-the-line extension to CATC's renowned Merlin Bluetooth analyzer family and combining the power of a Bluetooth protocol analyzer and a Bluetooth exerciser into a single Universal Protocol Analyzer System (UPAS) module, the BTTracer/Trainer provides a robust, flexible and efficient integrated environment for Bluetooth developers, testers and verifiers. The release of the BTTracer/Trainer provides CATC with yet another industry first which clearly demonstrates CATC's continued leadership and commitment to the Bluetooth community. The BTTracer/Trainer is the fifth member in CATC's growing line of Bluetooth development tools and verification systems and is the only protocol analyzer/exerciser designed with the flexibility to add Bluetooth Version 1.2 support.
- USBMobile(TM). The USBMobile(TM) is the latest member in our popular family of USB development and test tools. The product is the industry's first full-featured USB protocol analyzer in PC card format. The USBMobile Analyzer offers engineers a portable, low-cost solution for accurately and efficiently testing and debugging Full and Low speed USB semiconductors, devices, software and systems. USB Mobile helps engineers verify the reliability of their products and validate compliance with the USB specification, including the new USB On The GO. It enables our customers to perform analysis tasks virtually anywhere extending beyond the lab environment to the field and personal workstations.
- SCSI-View 5.0. A significant upgrade to our industry leading Verisys SV-8320 SCSI bus analyzer, features packetized protocol support. CATC's analysis tools are enabling the next generation of SCSI technology development. Ultra320, the latest advance in SCSI, brings significant performance improvements up to an unprecedented 320MB per second data transfer rate. The SV-8320 analyzer is CATC's fourth generation SCSI test platform. In addition to supporting Packetized Protocol, the SCSI-View 5.0 software adds performance monitoring for Ultra320 entities. Statistics, including factor of merits and packet read/write times, help developers optimize throughput and perform device and component level qualification.
CATC, a communication protocol expert company, provides advanced verification systems and connectivity products for existing and emerging digital communications standards such as USB, IEEE 1394, Bluetooth wireless technology, InfiniBand, Serial ATA, SCSI, Fibre Channel and Ethernet. CATC products are used by semiconductor, device, system and software companies at each phase of their products' lifecycles from development through production and market deployment. CATC verification systems consist of development and production products that accurately monitor communications traffic and diagnose operational problems to ensure standards compliance and interoperability as well as assist system manufacturers to download software onto new computers. CATC connectivity products enable reliable, uninterrupted service for broadband Internet access. CATC was founded in 1992 and is headquartered in Santa Clara, California. CATC can be found on the web at http://www.catc.com/
Previous Page | News by Category | News Search
If you found this page useful, bookmark and share it on: