Ross Technology Inc, the all-but-dead Sparc chip maker, has reported its financial results for fiscal 1998 in the midst of its previously announced oderly shutdown of its operations. The Austin, Texas-based company has posted a net loss for the year of $91m on revenue that slid 49.4% to $42.1m, against a loss of $104.3m last year. Results include charges of $11.2m for a write- down of fixed assets and $1.1m for the write-down of an investment in its Israeli subsidiary. Both charges come as a result of the company’s continued financial deterioration. The balance sheet is a somber document, with cash reserves of just $787,000, and total assets of $18.5m pitted against an accumulated deficit of $139.8m and total stockholders equity of nearly $9m. The company says it’s still in the process of dismantling and has now entered into an agreement with majority stockholder Fujitsu Ltd to sell certain intellectual property rights. The rest of the company’s assets are still on the block and discusssions are ongoing with potentially interested parties, including Fujitsu. About half of the company’s workforce is slated to go on July 31, including the development team of Ross’ Viper 64-bit technology, which was once held to be the savior of the company.
