GlobespanVirata Posts 34% Sequential Revenue Growth

GlobespanVirata reported quarterly revenue of $68.7 million, a 34% sequential increase over net revenues of $51.1 million in Q4 2002 but a 19% decrease from net revenues of $84.4 million for Q1 2002. There was a basic and diluted loss of $0.04 per share. The company said it benefited from expanding worldwide demand for DSL equipment and reductions in inventory levels at central office equipment manufacturers.
http://www.globespanvirata.com