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October 12, 1997updated 03 Sep 2016 7:45pm

DIAMOND HAS DISMAL Q3, BUT LOOKS TO FUTURE WITH CONFIDENCE

By CBR Staff Writer

Diamond Multimedia Systems Inc is attributing its shabby third quarter results to a transition period, and has warned the fourth quarter is not going to be much better. The San Jose, California- based company says it is in the process of getting rid of older technology and products that have recently witnessed pricing pressures, moving to the implementation of newer products and technology, based on a new architecture. The company warned shortly before reporting its interim results that the second quarter would see a lackluster performance (CI No 3,179). However, Diamond Multimedia seems to think the swap over will be complete at some point in the fourth quarter and believes next year’s results will be far more positive. The company says it is about to embark on a notoriously busy season and is confident that its new products will stand in good stead. Demand for new modem and graphics products apparently led to a 74% increase in revenue from the second to third period.

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