TranSwitch Corp. (TXCC, Financial) filed Quarterly Report for the period ended 2010-09-30.
Transwitch Corp. has a market cap of $52.46 million; its shares were traded at around $2.25 with and P/S ratio of 0.93.
Total net revenues for the nine months ended September 30, 2010 were $39.7 million as compared to $44.0 million for the nine months ended September 30, 2009, a decrease of $4.3 million or 10%. Our Network Infrastructure revenues decrease of approximately 6% was a result of lower sales of our L3M, CUBIT-3D, TEMx28 and ASPEN Express products which were partially offset by increased sales of our EtherMap family (Carrier Ethernet products) and our ASIC products. Our CPE revenues decrease of approximately 16% was attributable to decreased sales of our Atlanta products (VOIP communication processors) which was partially offset by increased sales from our Mustang (gigabit Ethernet passive optical) product line and our HDMI products along with increased service revenues which include IP licensing of our high speed interface technology.
International net revenues represented approximately 84% of net revenues for the three months ended September 30, 2010 as compared to 71% for the three months ended September 30, 2009. Also, international net revenues represented approximately 79% of net revenues for the nine months ended September 30, 2010 as compared to 71% for the nine months ended September 30, 2009.
Total gross profit for the three months ended September 30, 2010 decreased by approximately $1.0 million or 12% as compared to the three months ended September 30, 2009 and total gross profit for the nine months ended September 30, 2010 decreased by approximately $3.6 million or 15% as compared to the nine months ended September 30, 2009. The decreases in gross profit were primarily the result of a decrease in total net revenues and higher costs of product revenues due to increased sales of our lower margin ASIC products. The total gross profit as a percentage of revenue was 56% and 54% for three months ended September 30, 2010 and 2009, respectively and 54% and 57% for the nine months ended September 30, 2010 and 2009, respectively. The changes in gross margin percentage are mostly attributable to changes in product mix. We anticipate that gross profit will continue to be impacted by fluctuations in the volume and mix of our product shipments as well as material costs, yield and the fixed cost absorption of our product operations.
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Transwitch Corp. has a market cap of $52.46 million; its shares were traded at around $2.25 with and P/S ratio of 0.93.
Highlight of Business Operations:
Total net revenues for the three months ended September 30, 2010 were $12.9 million as compared to $15.2 million for the three months ended September 30, 2009, a decrease of $2.3 million or 15%. Our Network Infrastructure revenues decrease of approximately 11% was a result of lower sales of our Entropia III, ASPEN Express and CUBIT-3D products which were partially offset by increased sales of our ASIC and our ENVOY CE4 products. Our CPE revenues decrease of approximately 22% was attributable to decreased sales of our Atlanta products (VOIP communication processors) and our Mustang products (gigabit Ethernet passive optical) which were partially offset by increased sales of our HDMI products and increased service revenues which includes IP licensing of our high speed interface technology.Total net revenues for the nine months ended September 30, 2010 were $39.7 million as compared to $44.0 million for the nine months ended September 30, 2009, a decrease of $4.3 million or 10%. Our Network Infrastructure revenues decrease of approximately 6% was a result of lower sales of our L3M, CUBIT-3D, TEMx28 and ASPEN Express products which were partially offset by increased sales of our EtherMap family (Carrier Ethernet products) and our ASIC products. Our CPE revenues decrease of approximately 16% was attributable to decreased sales of our Atlanta products (VOIP communication processors) which was partially offset by increased sales from our Mustang (gigabit Ethernet passive optical) product line and our HDMI products along with increased service revenues which include IP licensing of our high speed interface technology.
International net revenues represented approximately 84% of net revenues for the three months ended September 30, 2010 as compared to 71% for the three months ended September 30, 2009. Also, international net revenues represented approximately 79% of net revenues for the nine months ended September 30, 2010 as compared to 71% for the nine months ended September 30, 2009.
Total gross profit for the three months ended September 30, 2010 decreased by approximately $1.0 million or 12% as compared to the three months ended September 30, 2009 and total gross profit for the nine months ended September 30, 2010 decreased by approximately $3.6 million or 15% as compared to the nine months ended September 30, 2009. The decreases in gross profit were primarily the result of a decrease in total net revenues and higher costs of product revenues due to increased sales of our lower margin ASIC products. The total gross profit as a percentage of revenue was 56% and 54% for three months ended September 30, 2010 and 2009, respectively and 54% and 57% for the nine months ended September 30, 2010 and 2009, respectively. The changes in gross margin percentage are mostly attributable to changes in product mix. We anticipate that gross profit will continue to be impacted by fluctuations in the volume and mix of our product shipments as well as material costs, yield and the fixed cost absorption of our product operations.
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