Final quarter revenues rose 24 per cent to $186.9m from $150.7m in the previous year. Sequentially revenues were up 4.2 per cent to $179.4m, a rise of $7.5m.
For the full year revenues declined 10.7 per cent to $670.7m from $750.9m the previous year. Sales by geographic region showed north America to be the dominant area were sales of $384M representing 57.2 per cent of the total were realised. Asia/Pacific revenues were $216.4m representing 32.3 per cent of the total. The European contribution was $$70.1m or 10.5 per cent.
Commented Nu Horizons chairman Arthur Nadata, "We are continuing our global expansion and diversification strategies which are currently benefiting from strong market growth. The loss of Xilinx, due to a change in its channel strategy will impact our revenues in the first quarter. In an effort to counter this loss, we have engaged with new suppliers, expanded with current suppliers and re-allocated sales and engineering resources to other high growth suppliers."
Nadata also cited the recent appointment of the experienced Martin Kent as president and chief executive officer of the company. "He is an industry veteran with extensive knowledge of our product roster and potential new technologies for our consideration."
Following the loss of the Xilinx line Nu Horizons reduced its north American workforce which should enable annual savings of $3.1m
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