The walls of Jim Stafford’s office are covered with sports memorabilia, including a Minnesota Twins banner and a golf-ball display. A ruggedly built scuba-diving enthusiast, he acknowledges a passion for competition. But that means winners and losers. And when
Over a three-year period ended in June 1993, sales dwindled by two-thirds to $97.9 million, while the bottom line plunged from income of $40.5 million to a loss of $52.7 million. But in the first two quarters of fiscal 1994-the first full periods of Stafford’s tenure as CEO-San Jose, CA-based Chips reported net profits of $322,000 and $720,000. The black ink broke a string of 11 losing quarters.
“As a company, we grew for the first five years on the strength of the chip set business,”
As a result, Chips finally has turned the corner,