Conexant Reports Quarterly Revenue of $158 Million

Conexant Systems reported quarterly revenue of $158.4 million, an increase of 7% over the same period last year. The GAAP net loss for the second quarter of fiscal 2003 was $68.0 million, compared with a net loss of $200.7 million in the same period last year. The company expects revenues for the current quarter to rise 3 to 7% sequentially due to continued traction in key growth initiatives, which include ADSL modems, satellite set-top box solutions and home network processors. Conexant also said that it has reduced the outstanding balance on its convertible debt due in 2007 by $100 million by using $56 million in cash.
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