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FREMONT, Calif.- August 5, 2004 - Vialta, Inc.
(OTC:VLTA) today reported a net loss of $165,000, or
$0.00 per share, for the second quarter ended June 30,
2004. This compares to a net loss of $1.1 million, or
$0.01 per share, for the quarter ended June 30, 2003.
In addition, the Company reported a net income of $1.3
million, or $0.01 per share, for the six months ended
June 30, 2004 compared to a net loss of $1.1 million,
or $0.01 per share for the six months ended June 30,
2003.
During
the second quarter of 2004 the Company recorded $2.8
million in revenue compared to $2.5 million for the
second quarter of 2003. Revenue for the six months ended
June 30, 2004 was $7.8 million compared to $6.4 million
for the six months ended June 30, 2003. Gross margin
was $1.8 million for the second quarter of 2004, and
$5.4 million for the six months ended June 30, 2004.
The Company had a high gross margin in relation to revenue
because some product costs associated with revenues
were expensed in the prior year.
Vialta's
continued emphasis on improving operating efficiencies
has had a positive impact on decreasing operating expenses.
The Company's total operating expense was $2.1 million
for the second quarter of 2004, and $4.4 million for
the six months ended June 30, 2004, a reduction of $1.1
million and $2.0 million respectively, from the comparable
periods in the prior year.
Didier
Pietri, CEO of Vialta, stated, "For the second
quarter of 2004, we continued to grow our domestic and
international sales volume, and we saw further acceptance
by retailers and consumers of Vialta's expanded Beamer
Videophone line as well as VistaFrame, our award-winning
digital picture frame." Mr. Pietri concluded, "Vialta
is focusing on strengthening its existing sales channels,
adding new ones, and introducing innovative, easy-to-use
products that should appeal to mainstream consumers
About Vialta
Vialta develops, designs and markets unique and innovative
home entertainment and communications products for the
mainstream consumer. The company 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.
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, the risk that products shipped
by the Company will be returned, 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
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