MILPITAS, Calif.--Opti Inc. has discontinued development activities in all but one product group, and it is now pursuing a strategy of licensing intellectual property (IP), said Bernard T. Marren, president and CEO of the multimedia chip company.
On Monday, Opti posted a net loss of $1.3 million on revenues of $2.9 million in the fourth quarter of 1999, compared to a net loss of $161,000 on sales of $10.8 million in the same period of 1998. For the entire year, Opti's net loss totaled $6.0 million on revenues of $22.3 million vs. a loss of $4.2 million on sales of $40.0 million in 1998.
"The company has paid a dividend to our stockholders during the fourth quarter of 1999 of over $46 million," Marren said. "We have reduced our work force and have discontinued the development of all but one product group. We are currently pursuing a policy of licensing our intellectual properties and have already sold one such license."