TranSwitch Corporation CEO Discusses Q2 2011 Results - Earnings Call Transcript

TranSwitch Corporation (TXCC)

Q2 2011 Earnings Call

August 8, 2011 5:30 p.m. ET

Executives

Ted Chung, VP of Business Development

Ali Khatibzadeh – President and CEO

Robert Bosi – CFO

Analysts

Dean Broyles – Stifel Nicolaus

Quinn Bolton – Needham & Company

Richard Shannon - Northland Capital Markets

Drew Burke – Game Plan Advisors

Quinn Bolton – Needham & Company

Presentation

Operator

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Good day, everyone, and welcome to the TranSwitch second quarter 2011 Earnings Release Conference. As a reminder today’s call is being recorded. At this time for opening remarks and introductions, I would like to turn the call over to Mr. Ted Chung. Please go ahead sir.

Ted Chung

Great. Thank you. With me here today are Dr. Ali Khatibzadeh, our President and CEO and Mr. Robert Bosi, our CFO.

Before I begin, I need to remind listeners that forward-looking statements made during this call, including statements regarding management’s expectations for future financial results and the markets for TranSwitch’s products are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995.

These risks are detailed in the TranSwitch’s filings with the Securities and Exchange Commission. With that out of the way, I will give some highlights for the quarter and hand it over to Ali for some more details.

For the fiscal second quarter of 2011, net revenues for the quarter were approximately $7.1 million within the guidance range provided on our last earnings call in February. Gross margins in the quarter improved to 67% up from the 64% reported in the March quarter. We also successfully completed the secondary offering and raise the net proceeds of $16.1 million. Bob will provide some more details on that later. Our largest customers in the quarter were Samsung Electronics and Alcatel-Lucent of greater than 10% of our revenue.

Well, Alcatel-Lucent has longer than 10% customer, Samsung use either of these range and this will selectively increasing importance of our video interconnect business.

At this time, I will now hand it over to Ali, so that he can share with you our progress during the quarter and some of his thoughts.

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