U.S.-based consumer electronics maker Syntax-Brillian Corp. announced for the quarter ended March 31, 2006, revenue increased 115 percent to U.S. $45.7 million compared to the same period in 2005. Year-to-date revenue was $133.2 million, up 123 percent from the 9 months ended March 31, 2005.
Net loss in accordance with U.S. GAAP, for the quarter was $11.4 million compared with net income of $143,000 for the third fiscal quarter of 2005. GAAP net loss for the 9 months ended March 31, 2006, was $13.4 million compared with net income of $365,000 for the comparable period of the previous fiscal year.
The merger of Syntax and Brillian was completed on Nov. 30, 2005. As a result, the results of operations for the 9 months ended March 31, 2006, include 4 months of the operations conducted by Brillian.
Record third quarter unit shipment volume of approximately 67,500 units represented an increase of 137-percent year-over-year. An additional 5,300 units were shipped in March but had not been received by the company's customers. Other accomplishments include the company's improved average selling prices in its LCD segment to $659 per unit from $632 per unit in the prior quarter while cost of goods sold per unit remained unchanged.
For the quarter ending June 30, 2006, Syntax-Brillian anticipates revenue to be in the range of $50 million to $58 million, predominately from sales of LCD TVs on shipment volumes of 73,000 to 83,000 units. Net loss for the quarter is anticipated to be in the range of $5.5 million to $6.5 million or $0.11 to $0.14 per share.
For the fiscal year ending June 30, 2006, Syntax-Brillian anticipates revenue to be in the range of $180 million to $190 million, predominately from the sales of LCD TVs on shipment volumes of approximately 270,000 to 280,000 units. Net loss for the year is anticipated to be in the range of $19 million to $21 million or $0.45 to $0.50 per share.
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