US-based Sunrise Telecom, a provider in test and measurement services for telecom, wireless and cable networks, has posted an operating loss of $4.1 million for the third quarter of 2008, compared to an operating loss of $2.9 million in the third quarter of 2007.
According to the company, preliminary diluted GAAP net loss per share for the third quarter of 2008 was $0.1, compared to diluted GAAP net loss of $0.06 per share in the third quarter of 2007.
Net sales for the third quarter of 2008 were $18.7 million, compared to $22.9 million in the third quarter of 2007, said the company. Backlog as of September 30, 2008 was $12.9 million, compared to $11.3 million as of September 30, 2007.
As per the report, gross margin for the third quarter of 2008 was 56% including the effect of a $1.2 million non-cash charge to cost of goods sold to write down the value of inventory. Operating expenses of $14.7 million for the third quarter of 2008 were down from $16.1 million in the second quarter of 2008 and $17.6 million in the third quarter of 2007. Excluding restructuring charges of $950,000, non-GAAP operating expenses of $13.7 million were down $3.9 million from the same period a year ago.
Paul Marshall, president and CEO of Sunrise Telecom, said: “We are taking measures to simplify the company, including the divestiture of non-core businesses, and are implementing actions to improve our cost structure. These actions are designed to position Sunrise Telecom to effectively focus on our core business strengths, improve liquidity, and ensure profitability in 2009.”
