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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 6-K
REPORT OF FOREIGN ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For the month of November, 2003
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ATI TECHNOLOGIES INC.
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(Translation of Registrant's Name into English)
1 Commerce Valley Drive East, Markham, Ontario, Canada L3T 7X6
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(Address of Principal Executive Offices)
(Indicate by check mark whether the registrant files or will
file annual reports under cover of Form 20-F or Form 40-F.)
Form 20-F Form 40-F X
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(Indicate by check mark whether the registrant by furnishing
the information contained in this form is also thereby furnishing the
information to the Commission pursuant to Rule 12g3-2(b) under the Securities
Exchange Act of 1934.)
Yes No X
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Index is located on Page 2
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INDEX
Document Page Number
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Press Release dated November 17, 2003 3
Statement of Outstanding Share Capital as of November 25, 2003 5
Signature Page 6
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[GRAPHIC OMITTED]
For more information, please contact:
Chris Evenden, Director, Public Relations
905-882-2600, extension 8107 or cevenden@ati.com
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ATI Updates First-Quarter Financial Expectations
Broad-based demand for PC products leads to improved expectations
MARKHAM, Ontario, Monday November 17, 2003 - ATI Technologies Inc. (TSX: ATY,
NASDAQ: ATYT), a world leader in the design and manufacture of innovative 3D
graphics and digital media silicon solutions, today provided an update on its
expectations for its financial results for the first quarter of its fiscal 2004
ending November 30, 2003.
ATI now expects revenue to be in the range of $440(1) to $470 million. Adjusted
net earnings(2) are expected to be in the range of $0.16 to $0.20. ATI expects
to see continued strength in the second quarter, but a typical seasonal pattern,
resulting in a slightly weaker revenue and profit profile.
"Broad-based demand for ATI's PC products, particularly in the desktop business,
has contributed to the greater-than-expected sales this quarter," said David
Orton, President and Chief Operating Officer of ATI Technologies. "This demand,
coupled with a stable price environment, has also contributed to gross margins
that are expected to exceed original expectations."
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1 All dollar amounts are stated in U.S. dollars unless otherwise noted. All per
share amounts are stated on a diluted basis unless otherwise noted.
2 Adjusted net income excludes the after-tax effect of gain on investments,
after-tax effect of other charges to the consolidated financial statements,
amortization of goodwill and intangible assets related to the Company's
acquisitions, and deferred tax recovery of future tax liability pertaining to
intangible assets acquired, related to the Company's acquisitions. Each of these
items has been excluded from adjusted net income as they are not considered to
be part of the Company's normalized operations. While the Company recognizes
that adjusted net income does not have any standardized meaning described by
generally accepted accounting principles, or GAAP, and that its adjusted net
income calculation cannot be used as a comparison to other companies' financial
performance, ATI believes that its adjusted net income more appropriately
reflects the Company's operating performance.
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ATI first quarter earnings and revenue update
About ATI Technologies
ATI Technologies Inc. is a world leader in the design and manufacture of
innovative 3D graphics and digital media silicon solutions. An industry pioneer
since 1985, ATI is the world's foremost visual processor unit (VPU) provider and
is dedicated to deliver leading-edge performance solutions for the full range of
PC and Mac desktop and notebook platforms, workstation, set-top and digital
television, game console and handheld markets. With 2003 revenues in excess of
$1.3 billion, ATI has more than 2,200 employees in the Americas, Europe and
Asia. ATI common shares trade on NASDAQ (ATYT) and the Toronto Stock Exchange
(ATY).
Forward-looking Statements and Uncertainties
Certain statements in this release constitute "forward-looking statements." When
used in this release, words such as "plans," "intends," "anticipates," "should,"
"estimates," "expects," "believes," "indicates," "targeting," "suggests," and
similar expressions are intended to identify forward-looking statements.
Forward-looking statements are based on current expectations and entail various
risks and uncertainties that are outlined in this release and in the Company's
2002 Annual Report and 2002 Annual Information Form. As a result of these risks
and uncertainties, the Company's operating results and common share price may be
subject to significant volatility, particularly on a quarterly basis. For
example, the markets for the Company's products are characterized by changing
market conditions, frequent new product introductions, seasonal and variable
demand and rapid technology changes. Other factors that could cause the
Company's results to vary include, but are not limited to, lack of anticipated
growth in the demand for PCs, gaming consoles and consumer electronic devices in
which the Company's products are incorporated, reductions in the Company's
average selling prices for its products due to competitive pressures and other
factors, the introduction of new products by the Company's competitors which
render the Company's products non-competitive, delays encountered by the Company
in developing new products or enhancements, including integrated graphics and
core logic components, in the time frame required by its customers, delays in
manufacturing or unfavourable manufacturing yields experienced by the Company's
independent foundries, unexpected variances in material costs, including silicon
wafer, memory and printed circuit boards, and constraints on the supply of
components utilized in the Company's products and in the PC industry generally.
These risks and uncertainties could cause or contribute to actual results that
are materially different from those anticipated or experienced in the past.
Additional information concerning factors that could cause the Company's
financial results to fluctuate is contained in the Company's filings with
Canadian and U.S. securities regulatory authorities. ATI disclaims any
obligation or intention to update or revise any forward-looking statement,
whether as a result of new information, future events or otherwise.
Copyright 2003 ATI Technologies Inc. All rights reserved. ATI and ATI product
and product feature names are trademarks and/or registered trademarks of ATI
Technologies Inc. All other company and product names are trademarks and/or
registered trademarks of their respective owners. Features, pricing,
availability and specifications are subject to change without notice.
For media relations, please contact:
Chris Evenden, Director, Public Relations, ATI Technologies Inc.,
at (905) 882-2600, Ext. 8107 or cevenden@ati.com
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For investor relations support, please contact:
Janet Craig, Director, Investor Relations, ATI Technologies Inc.,
at (905) 882-2600, Ext. 2631 or janet@ati.com
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STATEMENT OF OUTSTANDING SHARE CAPITAL
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The authorized capital of ATI Technologies Inc. consists of an unlimited number
of common shares and an unlimited number of preferred shares, issuable in
series. As of the close of business on November 25, 2003, 244,128,179 common
shares and no preferred shares were outstanding.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.
ATI TECHNOLOGIES INC.
Date: November 26, 2003 By: /s/Terry Nickerson
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Name: Terry Nickerson
Title: Senior Vice President, Finance and
Chief Financial Officer