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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 June, 2005
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Commission File Number 000-29872
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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 June 6, 2005 3
Signature Page 5
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[COMPANY LOGO GRAPHIC OMITTED]
For media inquiries:
Chris Evenden, Director, Public Relations
905-882-2629 or cevenden@ati.com
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ATI Reports Preliminary Third-Quarter Results
MARKHAM, Ontario - June 6, 2005 - ATI Technologies Inc. (TSX: ATY, NASDAQ: ATYT)
today announced that revenues for the third quarter of fiscal 2005 are expected
to be about $530 million(1), approximately 5% below the low end of the revenue
range provided on March 24, 2005. Gross margin is expected to be approximately
29%. Operating expenses, excluding the costs associated with stock-based
compensation, are expected to be about $143 million.
Broad-based demand for our products led to unit growth of approximately 5% in
our overall PC business despite the typical seasonal weakness seen in the third
quarter relative to the second quarter. While we believe end-user demand remains
stable, a product mix shift in the quarter towards the lower end of the desktop
and notebook discrete market caused revenues to come in below expectations. Our
desktop IGP business exceeded expectations, growing dramatically in the quarter.
Revenues from our consumer business - which includes DTV and handset - were
within expectations.
The product mix shift towards the lower end of the desktop and notebook discrete
market contributed to a decline in gross margin for the quarter. In addition,
gross margin was impacted by our desktop IGP products, which have margins that
are well below the corporate average. Lower than anticipated yields on certain
products due to operational issues in the packaging and test area of the
manufacturing process, also negatively impacted gross margin.
Looking into the fourth quarter of fiscal 2005 and into fiscal 2006, we continue
to see opportunities for growth. Based on our traction in the high growth
markets of DTV and handset, our expanding footprint in desktop IGP, as well as
continued strength in our core PC discrete market, we expect revenues for the
fourth quarter of fiscal 2005 to be about $600 million.
ATI will report its fiscal 2005 third quarter financial and operating results on
June 23, 2005. We will provide additional information, including a more detailed
quarterly review and outlook, during our regularly scheduled conference call on
that date.
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(1) All dollar amounts are in U.S. dollars unless otherwise noted. ATI
Technologies Inc. reports under Canadian generally accepted accounting
principles (GAAP).
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ATI Reports Preliminary Q3 Results
Important Information Regarding Forward-looking Statements
Forward-looking statements look into the future and provide an opinion as to the
effect of certain events and trends on the business. Forward-looking statements
may include words such as "plans," "intends," "anticipates," "should,"
"estimates," "expects," "believes," "indicates," "targeting," "suggests" and
similar expressions.
This news release contains forward-looking statements about ATI's objectives,
strategies, financial condition and results. These "forward-looking" statements
are based on current expectations and entail various risks and uncertainties.
Our actual results may materially differ from our expectations if known and
unknown risks or uncertainties affect our business, or if our estimates or
assumptions prove inaccurate. Therefore we cannot provide any assurance that
forward-looking statements will materialize. We assume no obligation to update
or revise any forward-looking statement, whether as a result of new information,
future events or any other reason. Additional information concerning risks and
uncertainties affecting our business and other factors that could cause our
financial results to fluctuate is contained in our filings with Canadian and
U.S. securities regulatory authorities, including our 2004 Annual Information
Form and 2004 Annual Report filed on SEDAR at www.sedar.com.
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About ATI Technologies
ATI Technologies Inc. is the 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 graphics processor unit (GPU) 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 device markets. With 2004 revenues
of US $2 billion, ATI has more than 2,700 employees in the Americas, Europe and
Asia. ATI common shares trade on NASDAQ (ATYT) and the Toronto Stock Exchange
(ATY).
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Copyright 2005 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 or industry analyst support, visit our Web site at http://www.ati.com
Other ATI Contacts:
Trevor Campbell, Director, Porter Novelli Canada, at (416) 422-7202 or
trevor.campbell@porternovelli.com
For investor relations support, please contact:
Zev Korman, Manager, Investor Relations, ATI Technologies Inc., at
(905) 882-2600, Ext. 3670 or zev@ati.com
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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: June 6, 2005 By: //Patrick Crowley//
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Name: Patrick Crowley
Title: Senior Vice-President, Finance and
Chief Financial Officer