On Wednesday, graphics accelerator company 3DLabs, Inc. reported its financial results for the fourth quarter of 1998, ending a year of “transition and re-invention,” according to president and CEO Osman Kent.
Revenue for the fourth quarter was roughly $5.2 million, a large loss from the same period in 1997, where 3DLabs garnered $22 million in revenues. The fourth quarter results were an increase over the third quarter, however, which totaled about $4.1 million. Overall the company reported $42.7 million in revenues for the 1998 fiscal year.
“In July, we made the strategic decision to become a vertically integrated graphics board company, started to re-architect our business and acquired Dynamic Pictures,” said Kent. “Despite the resultant dip in our financial performance, the emerging signs of success with our new business model make us believe that these were the correct decisions to position the company for growth in the ensuing quarters.”
3DLabs will begin shipping its PERMEDIA 3 ship sometime in the first half of 1999.
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