|
Written by Mike Buetow
|
|
Tuesday, 15 April 2008 |
|
RICHARDSON, TX – TXP Corp. today reported a fourth quarter net loss of $5.8 million on sales of $2.8 million.
For the three months ended Dec. 31, the EMS/ODM company’s earnings were down more than 300% year-over-year on a 9% drop in revenues. Gross profits dropped 3.2% to $777,000. The 2006 quarter included a one-time gain of $997,000; excluding that gain, sales were up 33% for the quarter.
For the year, revenue rose 34% to a record $11 million. The operating loss was $6.2 million, versus $1.3 million last year. The net loss almost doubled, to $8.9 million. The losses included non-cash expenses of approximately $3 million, including a "change in the fair value of the derivative financial instruments" attributable to the increase in the share price at year-end.
Prototype services made up about $2 million in revenue for the quarter, and grew 38% for the year.
The number of customers rose to 139, from 110 last year. |
News 
