>TI DVDINSIDER: ESS Technology Reports 4Q Revenues.(2001)(Brief Article)

DVD NEWS-(C)1999-2002 DVD NEWS. Distributed for AM Newswire Inc via M2 Communications Ltd (www.m2.com).

ESS Technology reported fourth quarter 2001 revenues of $83.3 million and net income of $16.3 million. Revenues for the year ended Dec. 31, 2001 totaled $271.4 million, a decrease of 11 percent from fiscal year 2000 revenues of $303.4 million. Net loss for the year was $1.8 million compared to net income of $48.3 million for the year ended Dec. 31, 2000. Pro forma net income for the year was $28.9 million compared to $47.8 million for 2000. Robert Blair, president and chief executive officer of ESS Technology commented, "I am extremely pleased with the results of the fourth quarter. Once again, we had record DVD shipments with over 5 million units shipped during the quarter. This represents sequential growth in unit shipments of over 40 percent from our record third quarter of 3.5 million, and we believe that we continue to be the market leader for both DVD chips and overall digital video player chips. Including our VCD chips, we shipped over 11 million digital ...