Dallas, Texas 02/04/2014 (FINANCIALSTRENDS) – The $44 million market capped semiconductor and memory chip maker Netlist, Inc. (NASDAQ:NLST) reported results from its 4Q operations on 3rd February. On the back of these results, the investors deserted the stock en-mass, which resulted in the share price dropping by 8.39 percent during trading on 3rd February to settle at $1.42 per share.
Commenting about the progress the small capped firm has made in fine tuning its operations in the 4Q, Chun Hong who is the Chairman of the Board, President, Chief Executive Officer and Co-Founder of Netlist, Inc. (NASDAQ:NLST) has been quoted to have said that, “We posted a significant improvement in year-over-year results, primarily due to sizeable increases and demand for our NVvault family of products combined with our ongoing efforts to control our costs. As we look out into 2014, we believe market requirements will accelerate for both of our products and our IP. We are clearly moving from a products-only business to an IP centric company, with product sales and IP monetization at the core of our activities.”
4Q14 revenues came in at $7.7 million as against the $6.0 million reported in 4Q12. Gross profit for 4Q13 was $1.9 million as against $0.8 million recorded in 4Q12 under the same header. EBITDA loss was $0.5 million for the 4Q13 as against a $3.1 million loss for same period in 2012. Net loss from the full quarter operations was $1.6 million which is substantially less than $4.1 million loss in 4Q12. Cash at hand was $7.8 million, where as assets stood at $16.1 million, while its net debt had accumulated to $5.1 million.
On the back of the selloff, the stock was trading just 27.92 down from its 52 week high price point of $1.97 and 178 percent up from the 52 week low price point of $0.51 per share.