Diversification from its core graphic chip business helped ATI Technologies Inc, the Toronto, Canada graphics chipmaker, to record a 65% increase in third quarter revenue to $302m. With amortization of in-process R&D arising from its November 1998 acquisition of Chromatic Research Inc taking a $17.3m bite out of profits, net income at $18.5m is down on the $26.4m recorded in the same period last year.
For the first nine months, net income is up 15.8% to $90.3m on revenue 73.9% higher at $926.6m. Net earnings per share for the quarter, excluding the amortization figure came in at $0.17, up on analysts estimates of $0.15 and 41.6% up on the comparable figure last year. For the first nine months, actual earnings per share rose 13.5% to $0.42.