Netlist, Inc. (NASDAQ:NLST)
The company reported $19.7 million in revenue for the 2016 financial year. This is a 145% increase from the $8.0 million reported in the 2015 financial year. The company reported $7.4 million on gross profit for the year ended December 31, 2016 which amounts to 37.6 of the total revenue compared to $2.1 million representing 26.2 of the total revenue reported in the previous financial year. Netlist, Inc. (NASDAQ:NLST) reported $11.2 million or $0.21 per share in net loss for the whole 2016 financial year.
Netlist, Inc. (NASDAQ:NLST)’s adjusted EBITDA loss reached $9.3 million for the 3016 financial year compared to $15.3 million in adjusted EBITDA loss reported in the previous financial year.
Revenue from the last quarter ended December 31, 2016 amounted to$5.5 million a 94% rise from the $2.9 million from the same period the previous financial year. The three months December 31, 2016 reported a growth in profit of $275,000 compared to the growth in profit of $1.3 million for the same period the previous year.
A net loss of $3.9 million or $0.06 per share was reported for fourth quarter compared to $4.3 million or $0.09 per share net loss reported for the fourth year of the 2015 financial year. This is inclusive expenses incurred on stock compensations amounting to $0.4 million.
At the close of the 2016 financial year, Netlist, Inc. (NASDAQ:NLST) had $12.6 in cash and cash equivalents. Cash in assets amounted to $20.0 million while working capital was $13.0 million.
In a statement, Netlist’s Chief Executive Officer C.K. Hong said the improvement in the company’s financial performance is mainly highlighted by substantial growth in revenue. He adds that company’s revenue channels include the Joint Development Agreement the company has signed with Samsung that included Non-Recurring Engineering Fees (NRE) to help in the development of HybriDIMM.
Netlist, Inc. (NASDAQ:NLST) also took big steps in defending its intellectual property instituting legal actions against SK hynix in the federal district court and at the ITC due to alleged infringement of Netlist patents. The company is seeking a total ban on the importation of SK hynix server memory products.
I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.
About the author: Monica Gray has an undergraduate degree in Accounting and an MBA – earned with Honors. She has six years of experience in the financial markets and has been a securities analyst for the past two years.