Earnings for SiRF
So SiRF announced earnings and things are looking pretty good there, with sales at $52.7 Million for the first quarter of 2006, up 95% over the first quarter of 2005. They had to report a net loss though of $10.4 Million, as a result of their aquisition of TrueSpan and other costs, totalling $13.3 million. Without those, their profit would have been $2.9 million which is not bad.
"I am pleased to report that Q1 was yet another strong quarter for SiRF. As expected, revenues were only slightly impacted by seasonality as the strong market growth in portable navigation and consumer devices continued," said Mr. Michael Canning, President and CEO.
With SiRF chips popping up everywhere I am not surprised that their CEO is seeing strong demand and growth in their business. It will e interesting to see i they maintain that lead as competition tryies to play catch-up.
Read More in: Earnings Announcements | SiRF News
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Posted by Scott Martin at April 27, 2006 7:11 AM
Not surprised to see SiRF earning up - TomTom is using the SiRF III chipset in their new devices (510 and 910) - seems to be the market leader right now, so I'm sure they'll only go up from here if they can hang on to the position and reputation.
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