TranSwitch Corp. closed out the second quarter with another $6 million loss at the Shelton tablet and smartphone technology maker.
For three months ended June 30, TranSwitch’s loss was 19 cents a share, just under the $6.1 million, or 20 cents a share, lost the same quarter last year.
Second-quarter revenues also were flat at $3.8 million vs. $3.7 million a year ago.
Near the close of the quarter, TranSwitch announced plans to sell more than 100 patents in its portfolio, and introduced a Chicago “angel” investor who has pledged to pump $11 million in equity into the company over the next two years.
Meantime, CEO M. Ali Khatibzadeh reiterated the company’s efforts to curtail overhead and to advance what it believes will be its game-changing technology in the high-definition video market.
