Gross profit for the third quarter of fiscal 2013 was $58.8 million, compared to $79.5 million in the prior-year period. Gross margin for the third quarter was 42%, compared to 43% for the same period last year. Gross margin was impacted by inventory provisions related to product line rationalization and an increase in our warranty provision for projectors.Cash operating expenses decreased by $5.2 million, or 10%, from $54.6 million in the third quarter of fiscal 2012 to $49.4 million in the third quarter of fiscal 2013. Cash operating expenses are comprised of selling, marketing and administrative and research and development expenses, excluding stock-based compensation and bad debt expense.
SMART Reports Third Quarter 2013 Financial Results
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