Transmeta Narrows 4Q Loss on Gross Margins Thursday February 23, 5:22 pm ET Transmeta Narrows Fourth-Quarter Loss by More Than Tenfold on Improved Gross Margins
SANTA CLARA, Calif. (AP) -- Microprocessor company Transmeta Corp. said on Thursday it narrowed its fourth-quarter net loss by more than tenfold, and vastly improved gross margins. Net loss for the quarter was $2.1 million, or a penny per share, narrowed from a loss of $28.1 million, or 15 cents per share, last year. Revenue for the quarter was $13.3 million, up 18 percent from $11.2 million last year.
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For the full year, the company lost $6.2 million, or 3 cents per share, narrowed from a loss of $106.8 million, or 61 cents per share, last year. Revenue for the year was $72.7 million, up from $29.4 million last year.
Gross margins for the quarter improved to 47 percent, up from negative 13.7 percent last year.
Looking forward, the company expects to lose 9 cents to 6 cents per share on $60 million to $72 million in revenue for the year.
"In contrast to a year ago, we enter 2006 with a much better business outlook," Chief Financial Officer Mark Kent said in a prepared statement. "We have very good visibility into achieving most of the low-end of the revenue range based on expectations from our current customers, and we can achieve the full revenue range through already identified opportunities."
Separately the company said Toshiba Corp. will license its technology, LongRun2, which is used to control transistor leakage and reduce power. Financial terms were not disclosed.
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