Transmeta expects more job cuts amid growing losses has announced several layoffs, is also officially exiting the processor business.

Revenue for the firm in the first quarter of 2007 was $2.1 million, which included $2.0 million of service revenue and $140,000 of end-of-life product revenue. This compared with revenue of $2.4 million in the fourth quarter of 2006, which included $2.2 million of service revenue and $220,000 of end-of-life product revenue.

Net loss for the first quarter of 2007 was $18.7 million, or a loss of $0.09 per share, compared with a net loss of $15.9 million, or a loss of $0.08 per share, in the fourth quarter of 2006. The first quarter of 2007 results included restructuring charges totaling $6.7 million, and an impairment charge on long-lived and other assets of $290,000, as well as non-cash charges of $1.7 million for amortization of intangible assets and $300,000 for stock-based compensation expenses.

By: Docmemory
Copyright © 2023 CST, Inc. All Rights Reserved