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TranSwitch Corp. Announces First Quarter Results
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Business New Haven
4/29/2002
By: BNH
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SHELTON - TranSwitch Corp. (NASDAQ: TXCC) posted net revenues of $4.9 million and a pro forma net loss of $12.1 million, or a pro forma diluted loss per share as adjusted of $0.11 for the first quarter of 2002. The pro forma net loss for the prior quarter was $12.1 million and pro forma net income was $6.1 million for the same period last year.
The net revenues of $4.9 million for the first quarter of 2002 included product revenues of $4.53 million and services revenues of $33,000. Product revenues were flat compared to the prior quarter and were 88 percent below net product revenues of $38.3 million for the same period last year. In addition, the company reported a pro forma operating loss of $17.1 million for the first quarter of 2002, versus a pro forma operating loss of $18.7 million reported in the fourth quarter of 2001 and pro forma operating income of $6.5 million for the same period last year.
TranSwitch Corporation is a leading developer and global supplier of innovative high-speed semiconductor solutions to original equipment manufacturers who serve three end-markets: the worldwide public network infrastructure, the Internet infrastructure and corporate-wide area neworks.
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