TranSwitch Corp. saw its fourth-quarter and annual losses widen as the Shelton telecommunications technology maker waits for the benefits of its restructuring to kick in.
For three months ended Dec. 31, TranSwitch lost $11.9 million, or 39 cents a share, more than double the $4.8 million, or 16 cents a share, lost the year-ago quarter.
Four-month revenues were flat at $5 million vs. $4.9 million last year.
For 2011, TranSwitch lost $22.9 million, or 82 cents a share, up from 2010’s loss of $4.7 million, or 21 cents a share.
In mid-October, TranSwitch announced a reorganization and layoff of a small, but unspecified number of workers at Shelton headquarters involved in R&D, sales, marketing and administration. The bulk of its remaining workers are based in India, where they conduct R&D.
Company officers said previously those staff reductions will save TranSwitch some $3.2 million a year plus another $400,000 annually in other unspecified cost savings.
CEO M. Ali Khatibzadeh reiterated that TranSwitch is progressing with development of new products for multimedia connectivity and processing in voice, data and video networks.
