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19 Apr 2002
Troubled chip designer Transmeta reported a heavier first quarter loss than expected, and has also lost its chief financial officer.
The California based start-up rose to fame in 2000, when its low-power Crusoe chips threatened to provide competition for Intel in the mobile device market.
But since then the company has been hit with continued problems, both from a personnel and product development perspective.
These latest results show a widening net loss, of $30.9m - equating to 23 cents per share - from a loss of $22.7m (18 cents per share) for the same quarter last year.
Manufacturing and distribution problems, plus poor take-up of Crusoe by notebook manufacturers, are blamed for the losses.
Transmeta is more confident about the future. It predicts second quarter revenues will grow 55-65 per cent from the quarter reported here.
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