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TurboChef reports that total revenue for the third quarter was U.S. $13.4 million, a sequential increase of 28 percent. Revenue from non-Subway customers was $9.5 million for the third quarter, an increase of 61 percent over the prior quarter and 33 percent over the year-ago quarter. Gross margins for the third quarter were 38 percent and, for the first time this fiscal year, the company achieved positive operating income in its commercial business segment, a trend it expects to continue in the fourth quarter and for all of 2007.
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