Netlist reports first-quarter revenue increase

Logic-based memory subsystems provider Netlist has reported revenues of $7.9m (£5.2m) in the first quarter of 2010, up 265 per cent from revenues of $2.2m for the first quarter of 2009 and 17.8 per cent from the $6.7m in revenues for the fourth quarter ended 2 January 2010.

Gross profit for the first quarter of 2010 was $1.8m, or 23 per cent of revenues, compared with a gross loss of $537,000, or negative 24.8 per cent of revenues for the first quarter of 2009.

Net loss for the first quarter of 2010 was $3m ($0.14 loss per share) compared with a net loss in the prior year period of $3.8m ($0.19 loss per share).

The results include stock-based compensation expense in the first quarter of 2010 of $382,000 compared with $307,000 in the prior year period.