NEW YORK (TheStreet) -- Netlist (NLST) was rising 23.23% to $1.75 on Tuesday afternoon after the tech company announced a fourth-quarter loss that was narrower than analysts' expectations.
The loss for the quarter was $1.6 million, or 5 cents a share; analysts were expecting a loss of 8 cents a share. A year earlier, Netlist recorded a loss of $4.1 million, or 14 cents a share. Revenue was $7.7 million, beating the consensus estimate of $4.58 million. Revenue a year earlier was $6 million.
"Our 2013 results reflect substantial progress in the strategic transition of our business," said Netlist CEO C.K. Hong in the company's statement. "In the fourth quarter we posted a significant improvement in year-over-year results, primarily due to sizeable increases in demand for our NVvault family of products combined with our ongoing efforts to control our costs. As we look out into 2014, we believe market requirements will accelerate for both our products and our IP."
TheStreet Ratings team rates NETLIST INC as a "sell" with a ratings score of D. TheStreet Ratings Team has this to say about its recommendation:
"We rate NETLIST INC (NLST) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity, poor profit margins and weak operating cash flow."