Revenues of $13.5 million for the second quarter of 2005 were in line with the guidance provided at the last earnings call and reflected a 17% increase sequentially from $11.6 million in the first quarter of 2005. Under generally accepted accounting principles (GAAP), second quarter net loss was $2.6 million as compared to a net loss of $2.5 million in the first quarter of 2005. Net loss per basic share was $0.09 as compared to a net loss per basic share of $0.09 in the first quarter of 2005.
OLED and TFT sales accounted for approximately 40% and 10% of revenue respectively.
OLED unit shipments increased by about 80% over the prior quarter, largely due to renewed interest from the handset market.
"Unit sales grew nicely in the second quarter," said Dr. Ahn. "We continue to develop products across a broad technology spectrum and at a rapid pace to address the needs of the display driver market. Our new generation of products will be in volume production starting this quarter. We look forward to the ramp of our TFT products and renewed interest in our OLED products. We are experiencing a spike in demand for the LDS162, a monochrome STN product, from one of our major Tier-1 end-users, which we expect to continue through this quarter."
