Lexar Announces 279% Revenue Increase In First Quarter As Public Company

Lexar Media Inc., Fremont, Calif., reported record financial results for its third quarter and nine-month period ended Sept. 30, 2000.

Third quarter revenues totaled .0 million, a 279 percent increase over the .2 million in revenues recorded in the third quarter of last year and a 25 percent increase from .8 million for the second quarter of 2000.

Including stock-based compensation charges and non-cash interest charges, Lexar's loss was .3 million.

"Demand is driving digital camera sales in record numbers," said John Reimer, president and CEO of Lexar Media. "IDC estimates that more than 10 million digital cameras will ship this year and that by 2004 this number will grow to more than 42 million units," Mr. Reimer continued. "An installed base of 80 million digital cameras will drive more than 100 billion pictures to be shot each year by 2004. This represents a huge opportunity for Lexar Media."