iPod Chipmaker Lookin' Good

July 27th, 2005, 02:40 Posted By: wraggster

“PortalPlayer, whose chip powers the iPod, offered a bullish forecast on Monday, suggesting music player sales could remain strong for the second half of the year.

The San Jose, Calif.-based company forecast that its sales could rise to between $50 million and $60 million for the quarter that runs through September. That's greater than some analysts had been forecasting.

"We are excited about the momentum that is building for the second half for both existing and new customers," CEO Gary Johnson said during a conference call with investors.

For the past quarter, which ended June 30, PortalPlayer reported it earned $6.3 million, or 25 cents per share, on revenue of $44.6 million. The company had a loss of $880,000, or 64 cents per share, in the same quarter a year ago.

However, PortalPlayer shares dropped more than 1 percent in after-hours trading, changing hands at $26.30, down 35 cents from the close of regular trading. Ahead of its earnings report, PortalPlayer had ended regular trading at $26.65, a drop of 41 cents, or 1.5 percent.”

http://news.zdnet.com/2100-1040_22-5803906.html

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