Net revenues for the third quarter of fiscal 2004 were $7.0 million, up 17 percent from $6.0 million in the second quarter of 2004 and up 159 percent from $2.7 million in the third quarter of 2003.

GAAP net loss for the third quarter of 2004 was $27.5 million, or a loss of $0.16 per share, including $5.8 million in inventory-related charges. This compares with a GAAP net loss of $26.8 million, or a loss of $0.15 per share, in the second quarter of 2004 and a GAAP net loss of $23.7 million, or a loss of $0.17 per share, in the third quarter of 2003.

The company also announced that it expects to amend its financial statements for the second fiscal quarter of 2004 to reflect a $1.3 million adjustment relating to excess package substrate materials on hand and on order within that period and a related inventory adjustment.

Transmeta previously announced a second quarter 2004 GAAP net loss of $25.5 million, or a loss of $0.15 per share, which included inventory-related charges of $2.7 million. As a result of the expected additional adjustment of $1.3 million, the company now expects to report, for the second fiscal quarter of 2004, a GAAP net loss of $26.8 million, or a loss of $0.15 per share.

By: DocMemory
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