Consumer electronics maker Brillian Corporation announced revenue for the quarter ended Dec. 31, 2004 was U.S. $343,000, down 5 percent from the same period in 2003.
Net loss for the quarter was $16.3 million compared with a net loss of $4.9 million in the fourth quarter of 2003.
Results for the fourth quarter of 2004 include an increase in the reserve for excess and obsolete inventory of $1.1 million and an impairment charge of $10.2 million.
"The fourth quarter was highlighted by the signing of an agreement with JDS Uniphase in December, which allows us to bring pilot production of the Ultrex III light engine in house," said Vincent F. Sollitto, Jr., Brillian's president and CEO. "In that regard, we built 200 light engine kernel subassemblies in the fourth quarter, and we began building full light engines in early January. This has allowed us to re-start our HDTV production, and in February, we shipped our first TV since the re-start."
Brillian reported full year revenue was $2.7 million, up 23 percent from 2003. Net loss for the full year was $32.9 million compared with a net loss of $18.7 million for 2003.
According to the company, its efforts in the first quarter of 2005 are focused on producing a limited quantity of HDTVs and securing customers in the high-end OEM and Pro AV distribution channels.
Brillian forecasts that revenues for the first quarter of 2005 will be in the range of $600,000 to $800,000 with a net loss in the range of $5.5 million to $6.5 million.
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