Clone chip manufacturer Cyrix justified its predictions that its fortunes were on the rise today by reporting a a profit of $6.6 million on turnover of $75.6 million.
That means that the company has turned the corner which took it into the red into its last financial year. That caused Cyrix shares to rise by over $3 as speculators accepted that there was big demand for its chips.
The main reason for the turn in its fortunes were increased sales of its 6x86 processors while PC giant Compaq boosted its fortunes by adopting its Media GX chip for some of its Presario range. First tier vendors are also likely to adopt its M2 chip, now slated for June, in their Socket 7-compatible machines.
IBM, in particular, is likely to adopt the M2 as it has a broad ranging deal with Cyrix to manufacture processors based on its designs.
Two weeks ago Cyrix accepted that the MMX letters belonged to Intel, leaving it clear to introduce its processors in June without costly legal battles.
Jerry Rodgers, who founded Cyrix and was a refugee from Texas Instruments, has now resigned all of his positions on the board. Last December he stopped being CEO of the company.
Cyrix, like its other clone companion AMD, is expected to introduce fast processing power at a price less than chip giant Intel can afford to offer. On Monday, Intel denied it would cut the prices of its Pentium and Pentium Pros. It is likely to do so on 29 April, three days ahead of its launch of Klamath Pentium II.
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