Transmeta reports another loss, runs out of time
Transmeta announced a net loss of $28.1 million on net revenues of $11.2 million for its fourth fiscal quarter. For the year, the company reported an operating loss of $107.5 million and revenues of $29.4 million.
While revenues increased significantly from $17.3 million in 2003, the company still is going through its cash reserves in blazing speed. For 2003, the firm reported total assets of $172.6 million. By the end of fiscal year 2004, this amount was reduced to 89.6 million. Between 2000 and 2004, the company reported losses of more than $600 million on revenues of about $123 million. At the current pace, Transmeta will run out of all its assets by the end of this year. (THG)