This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

TranSwitch Corporation Announces Third Quarter 2011 Financial Results

TranSwitch Corporation (NASDAQ: TXCC), a leading provider of semiconductor solutions for the converging voice, data and video network, today announced financial results for the third quarter ended September 30, 2011.

Net revenues for the third quarter of 2011 were approximately $6.7 million, as compared to net revenues of $7.1 million for the second quarter of 2011 and $12.8 million for the third quarter of 2010. Net loss for the third quarter of 2011 was ($4.8) million, or ($0.16) per basic and diluted common share, as compared to a net loss of ($3.0) million, or ($0.11) per basic and diluted common share for the second quarter of 2011, and a net loss of ($1.8) million, or ($0.08) per basic and diluted common share for the third quarter of 2010.

The GAAP gross margin for the third quarter was 65%. This is compared to the Company's GAAP gross margin of 67% for the second quarter of 2011, and 56% for the third quarter of 2010.

Total non-GAAP operating expenses for the third quarter of 2011 were $7.4 million, as compared to $7.5 million in the second quarter of 2011 and $6.6 million in the third quarter of 2010. Non-GAAP operating expenses for the third quarter of 2011 exclude $0.4 million in amortization of purchase price intangibles, $0.6 million in stock-based compensation and $0.9 million in restructuring charges along with a benefit of $0.5 million from the reversal of accrued royalties. Total GAAP operating expenses for the third quarter of 2011 were $8.8 million.

Non-GAAP operating loss for the third quarter of 2011 was ($3.1) million, compared to a non-GAAP operating loss of ($2.7) million for the second quarter of 2011 and non-GAAP operating income of $0.6 million for the third quarter of 2010. On a GAAP basis, the operating loss for the third quarter of fiscal 2011 was ($4.5) million, compared to an operating loss of ($2.9) million for the second quarter of fiscal 2011 and an operating loss of($0.4) million for the third quarter of 2010.

1 of 5

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,265.99 +109.14 0.64%
S&P 500 2,011.36 +9.79 0.49%
NASDAQ 4,593.4250 +31.2360 0.68%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs