S3 Revenue

S3 has reported that the fourth quarter brought revenues of $180.5 million, while revenues for the entire year amounted to $352.6 million. The revenue results translate to a fourth quarter loss of $6.9 million, compared to a loss of $70.3 million in the same period last year, and a loss of $30.8 million for the year, a rosy result compared to losses of $113.2 million in 1998. "This sector showed sequential quarterly revenue growth of approximately 46 percent," said S3 CEO Ken Potashner. While S3's made gains in its graphics business, the company's turnaround continues to be led by Internet appliances, a direction that S3 is keen to pursue. "Although we continue to make gains in our graphics business, we believe that our growth businesses focusing on Internet appliances and home networking have significant unrealized value," said Potasher. S3 also announced that it had finalized its purchase of Number Nine Visual Technology.