Transmeta hails positive Q2 cash flow
More money going in than out
Posted in Financial News, 11th July 2005 08:47 GMT
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More cash flowed into Transmeta in the second quarter than it spent, the company said late last week as a teaser for its upcoming results announcement.
In May, the former chip maker said it would reduce its negative cash-flow to under $5m, and the company was quick to point out that its Q2 numbers will be better than expected.
"We have surpassed our first goal of substantially reducing our cash burn, and in fact I am now able to comfortably say that we will report positive operating cash flow for the 2005 second quarter," said Transmeta's CFO, Mark Kent, in a statement.
The company's second quarter ended 30 June.
Transmeta has been aggressively attempting to cut costs ever since it decided earlier this year to get out of the chip manufacturing business and focus instead on processor technologies it can license to other vendors. That change came to a head on 31 March, when the company restructured, a move that saw president and CEO Matthew Perry replaced by Art Swift.
For the three months to 31 March, Transmeta lost $21.1m on product sales and licensing revenue of $6.9m. ®
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