Spectra7 Microsystems Reports Narrows Q3 Loss as Revenue Rises; Sets Outlook for Second Half of 2022

MT Newswires · 11/29/2022 23:07

10:04 AM EST, 11/29/2022 (MT Newswires) -- Spectra7 Microsystems Inc. (SEV.V), a provider of analog semiconductor products for broadband connectivity, on Tuesday reported a third-quarter loss of US$1.4 million ($1.9 million), or US$0.04 per share, down from US$2.6 million, or US$0.12 per share, a year earlier.

The company's shares fell 4.6% on last look on Tuesday.

Revenue for the quarter ended Sept. 30 was US$2.7 million, up from US$1.6 million a year earlier.

For the second half of 2022, the company is expecting revenue of $5.3 million to $6.1 million. At the mid-point of the updated range, the projected full-year results represent annual revenue of about $11.2 million, the company said.

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