3dfx Announces Q3 Results

While 3dfx was able to rack up revenues of $105.9 million for the third quarter of 1999, a healthy increase over third quarter revenues of $33.2 million in 1998, the company still posted a loss of $17.6 million for the quarter. Last years third quarter resulted in a profit of $3.1 million. The losses were attributed to increased memory prices and to 3dfx's failure to win a larger portion of the OEM market. "Our financial performance did not meet our goals," stated 3dfx chairman Gorden Campbell, "Despite these challenges, 3dfx continued to see very strong sales of the Voodoo3 product line." The company also announced that the search for a new CEO to replace the departed Greg Ballard has been narrowed and an announcement could come in December.