TXP’s Q4 Losses Widen PDF Print E-mail
Written by Mike Buetow   
Tuesday, 15 April 2008 04:04
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.
 

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