TranSwitch Corp. cut its third-quarter net loss by half despite lower sales, as savings kicked in from the Shelton tablet, smartphone technology maker’s restructuring plan launched in the period.
For three months ended Sept. 30, TranSwitch lost a net $3 million, or 9 cents a diluted share, less than the $6 million, or 19 cents a share, net loss the same quarter last year.
Third-quarter revenues were $4.8 million vs. $6.7 million a year ago.
CEO M. Ali Khatibzadeh said the company’s licensing of its intellectual property, including its new HDplay technology recently licensed to its first customer, Chinese video-hardware maker Playvision, also continued to add smartly to revenues.
The HDplay transceiver makes it possible for videogame characters and playscapes to be viewed in 3-D.
Meantime, TranSwitch is making progress in shopping its portfolio of 148 technology patents to raise capital to bolster its balance sheet to back its big play on high-definition video, and hopes to close a deal before yearend, Khatibzadeh said.
