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Transmeta wins deals, loses money in Q2

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Despite a number of nice design wins, Transmeta posted another set of lackluster results in its second quarter.

Revenue came in at $5.1 million for the maker of energy-efficient Crusoe processors. This compares to $7.5 million posted in the same quarter a year ago. Transmeta, however, did manage to narrow its net loss down to $22.0 million versus a loss of $35.6 million in Q2 2002.

"In the second quarter, we achieved revenue and loss per share in line with our guidance, and once again lowered our operating expenses and improved cash usage by more than was expected," said an optimistic Matthew Perry, president and CEO of Transmeta, in a statement.

It's a shame to see Transmeta struggle, as its chips power some of the coolest gadgets around. HP plans to start selling a Tablet PC based on the Crusoe TM5800, Sharp has a nice, thin notebook available and various other slim systems are on sale from other manufacturers. And anyone who has played with Sony's PictureBook knows that Transmeta is onto something.

There is also the work Transmeta does in embedded devices and its light Midori version of Linux that give reason to hope.

The company's continued struggle to generate serious revenue, however, remains a cause for concern. This ship has to pick up steam at some point to maintain a decent level of interest and confidence in the vendor.

Intel did its best to dent Transmeta's appearance on the low power processor scene with what some call dubious Low Voltage Pentium claims. Transmeta has never quite recovered from this, and new and improved mobile chips from Intel don't help the cause.

For its third quarter, Transmeta expects revenue to be "about the same as Q2." Sigh. ®

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