ATI Technologies posts third-quarter loss

ATI Technologies, the graphics chip supplier for next-gen consoles the Xbox 360 and Nintendo Revolution, has posted a loss for the third quarter running from March to May this year.

Gross revenues increased from $491.5 million to $530.2 million, while stock-based compensation and costs incurred by research and development resulted in a 8 per cent earnings spike and a loss of $445,000 for the quarter year-on-year.

The company also changed its forecast for fourth-quarter sales, reducing the revenue estimate from $580 million to $550 million.

ATI CEO David Orten commented: "Q3 was a challenging and disappointing quarter that fell well below our expectations, both in top-line revenues and in gross margins."

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