PT posts first-quarter revenue results

PT, a provider of network-communications solutions, has announced its financial results for the first quarter of 2010, reporting revenue of $7.4m (£4.8m) compared to $6.9m in the first quarter of 2009.

The company incurred a net loss of $1.8m, or $0.16 per basic share, in first-quarter 2010, including a restructuring charge of $0.01 per share and stock-based compensation expense of $0.01 per share, based on 11.1 million shares outstanding.

This compares to a net loss of $1.4m or $0.13 per basic share in the first quarter of 2009, including a restructuring charge of $0.03 per share and stock-based compensation expense of $.01 per share, based on 11.2 million shares outstanding.

Cash and investments amounted to $29.3m, or $2.64 per share, and the company had no long-term debt on 31 March 2010.