Netlist, Inc., a leading company that designs and manufactures high-performance, logic-based memory subsystems for data center server and high-performance computing and communications markets, recently announced its financial results for the first quarter ended April 2, 2011.
In the first quarter of 2011, Netlist was able to somewhat bring its losses down and up the revenues. The company registered revenue worth $12 million, up 52 percent from revenues of $7.9 million for the first quarter ended April 3, 2010, and up 18.9 percent from revenues of $10.1 million for the previous quarter. Moreover, cash, cash equivalents, and long-term investments in marketable securities were $12.3 million, total assets were $32.8 million, working capital was $15.5 million, total debt was $1.6 million, and stockholders' equity was $19.4 million.
During the first quarter, Netlist registered a gross profit of $3.8 million, or 32 percent of revenues, up 109 percent from a gross profit of $1.8 million, or 23 percent of revenues, for the first quarter ended April 3, 2010.
Net loss for the first quarter ended April 2, 2011, was $2.8 million, or $0.11 loss per share, compared to a net loss in the prior year period of $3.0 million, or $0.14 loss per share.
"We had another strong quarter of revenue and gross profit dollar growth both year-over-year and sequentially from the fourth quarter – a solid start for the year, “ said Chief Executive Officer C.K. Hong, in a statement. “We are executing effectively against our key business strategies, driving solid ramps in both NVvault and Flash businesses, and continuing to seed HyperCloud in numerous qualification efforts."
Founded in 2000, Netlist is headquartered in Irvine, Calif., with manufacturing facilities in Suzhou, People's Republic of China. The company recently announced that its 8GB and 16GB HyperCloud memory modules are qualified by Cirrascale, a premier developer of build-to-order, independent blade-based computing and storage data center infrastructures.
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Rahul Arora is a TMCnet contributor. He has worked as an editor and freelance writer for several reputed organizations in India. To read more of his articles, please visit his columnist page.
Edited by Carrie Schmelkin