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Hauppauge Digital Reports Q1 Results, Two-for-One Stock Split

Hauppauge Digital today reported financial results for its fiscal first quarter ending December 31, 1999. The company is a developer and manufacturer of digital video TV and data broadcast receiver products for personal computers.

Net sales for the quarter increased 46% to $22,043,649 from $15,056,999 for the prior year’s first quarter. Net income for the quarter increased 55% to $1,476,000 compared to $953,000 for the prior year’s first quarter.

Also, Hauppauge’s board of directors authorized the splitting of the company’s common stock on a two-for-one basis for shareholders on February 24. Shares resulting from the split are expected to be distributed on March 24.

Ken Plotkin, Hauppauge’s CEO, said, “We’re pleased with our performance for the first quarter. Sales of the new products introduced in the fourth quarter of fiscal 1999, WinTV-USB, WinTV-GO and WinTV-DVB, showed excellent growth. In addition, we saw sales grow in all product categories except high-end professional WinTV boards, where Year 2000 ‘lock downs’ reduced sales.”

For company link see…
and its Nasdaq listing.

For previous mention of this company in TWICE Online see…
Cahners In-Stat Group Identifies Pros, Cons Of Sinclair Petition To FCC On HDTV, 09-Nov-1999