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FREMONT, Calif.-
August 1, 2003 - Vialta, Inc, (OTC:VLTA) today
reported a net loss of $1.1 million, or $0.01
per share, for the second quarter ended June 30,
2003. This compares to a net loss of $7.9 million,
or $0.09 per share, for the quarter ended June
30, 2002. In addition, the Company reported a
net loss of $1.1 million, or $0.01 per share,
for the six months ended June 30, 2003 compared
to a net loss of $14.4 million, or $0.17 per share,
for the six months ended June 30, 2002.
During the second quarter the Company recorded
$2.5 million in revenue from sales of its Beamer™
videophone. Revenue for the six months ended June
30, 2003 was $6.4 million. Revenues for this period
included recognition during the first quarter
of 2003 of approximately $2.8 million from shipments
that occurred in the fourth quarter of 2002 and
had been previously deferred. There were no revenues
for the comparable periods in 2002.
Gross margin was $2.0 million for the second quarter,
and $4.9 million for the six months ended June
30, 2003. Gross margin was high in relation to
revenue, largely because products costs associated
with revenues were expensed in the prior year.
Vialta's strong emphasis on improving operating
efficiencies has had a positive impact on decreasing
operating expenses. The Company's total operating
expense was $3.2 million for the second quarter
of 2003, and $6.4 million for the six months ended
June 30, 2003, a reduction of $5.0 million and
$8.8 million respectively, from the comparable
periods in the prior year.
"The continued expansion of Vialta's domestic
retail distribution channels, coupled with the
growth in international distribution - including
our recent agreement with the Portuguese telecom
company, PT Comunicações, S.A. - will make the
Beamer videophone readily available to an even
larger potential consumer market base," said Didier
Pietri, Vialta's president and chief executive
officer. "Vialta should continue to benefit from
the increasing acceptance of the Beamer videophone,
by retailers as well as the general public."
About
Vialta
Vialta,
Inc. develops, designs and markets unique and innovative
home entertainment and communications products for
the mainstream consumer. Vialta was formed in April
1999 and is publicly traded on the OTC Bulletin
Board under the symbol "VLTA". The company is headquartered
in Fremont, California with offices in Los Angeles
and Hong Kong. More information about Vialta can
be found at www.vialta.com.
Forward-Looking
Statements
The matters discussed in this news release
include certain forward-looking statements that
involve risks and uncertainties, including, but
not limited to, the possible reduction of consumer
spending, the timely availability and acceptance
of the Company's new and existing products, the
impact of competitive products and pricing, the
dependence on continued growth in demand for consumer
products, and the other risks detailed from time
to time in the SEC reports of Vialta, including
the reports on Form 10-K and Form 10-Q. Actual
results could differ materially from those projected
in the forward-looking statements.
Q2
Financial Statements
Contacts
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