Syntax Sales Jump 257% In Qtr.
By Greg Tarr -- TWICE, 5/21/2007
TEMPE, ARIZ. — Advanced TV manufacturer Syntax-Brillian said third-quarter revenue jumped 257 percent to $162.9 million, while net income rose to $5.5 million compared with an $11.4 million loss in the year-ago period.
Year-to-date revenue was $492.4 million, up 270 percent from revenue of $133.2 million for the nine months, ended March 31, 2006.
Net income for the nine months ended March 31, was $21.4 million compared with a net loss of $13.4 million for the comparable period of the previous year.
Syntax-Brillian reported consolidated gross margins of 18.1 percent for the period, and the improvement from the fiscal 2006 third quarter was a result of improvements in LCD gross margins, from 16.2 percent in the March 2006 quarter, to 21.2 percent in the March 2007 quarter, as well as an overall increase in the amount of LCD revenue, the company said.
In the quarter, Syntax-Brillian completed its acquisition of Vivitar on Nov. 21, 2006. Revenue for Vivitar for the quarter was $13.5 million.
Also in the quarter, Syntax-Brillian announced brand impact results of an ongoing ESPN marketing and advertising campaign: Olevia brand awareness in key demographic of males age 18 to 49 increased by 347 percent, up 33.9 percent, and consideration of purchasing an Olevia HDTV increased by 161 percent, up 18 percent.
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