SpatiaLight Announces First Quarter 2006 Results
10 Mayo 2006 - 4:30PM
PR Newswire (US)
NOVATO, Calif., May 10 /PRNewswire-FirstCall/ -- SpatiaLight, Inc.
(NASDAQ:HDTV), a developer and manufacturer of ultra
high-resolution microdisplays for the high definition television
market, today reported its results for the first quarter of 2006.
For the quarter ended March 31, 2006, SpatiaLight had revenues of
$85,694, as compared with revenues of $97,759 for the same period
in 2005. Net loss for the quarter was $5.6 million, compared with a
net loss of $2.1 million for the same period in 2005. Net loss per
share was $(0.15) for the quarter, compared with $(0.06) for the
same period in 2005. SpatiaLight ended the first quarter with cash
and cash equivalents of $1,387,411, working capital of $2.4
million, stockholders' deficit of $8.3 million and $10.5 million in
long-term convertible debt, net of applicable discounts. Webcast
Details SpatiaLight will hold a public audio webcast at 5:00 p.m.
EDT on Wednesday, May 10, 2006, with management of the Company to
discuss details regarding the Company's performance for the first
quarter and other forward-looking information. The session may be
accessed at http://www.spatialight.com/ under the link for
Investors. The webcast will be available for replay through the
close of business on May 17, 2006. About SpatiaLight SpatiaLight,
Inc., founded in 1989, manufactures high-resolution Liquid Crystal
on Silicon (LCoS) microdisplays for use in high definition
televisions and other display applications. Providing resolution of
more than 6.2 million pixels, each SpatiaLight LCoS set
incorporates three proprietary imagEngine(TM) microdisplays. The
company manufactures its products at its facility in South Korea.
The company is committed to developing microdisplay technologies
that will be the standard for the next generation of high
definition televisions, and to providing OEMs with the most cost
effective, high-resolution microdisplays in the industry. For more
information about SpatiaLight, please visit the company's website
at: http://www.spatialight.com/. Safe Harbor Statement This news
release includes forward-looking statements that reflect
SpatiaLight's current expectations about its future results,
performance, prospects and opportunities. SpatiaLight has tried to
identify these forward- looking statements by using words and
phrases such as "may," "will," "expects," "anticipates,"
"believes," "intends," "estimates," "plan," "should," "typical,"
"preliminary," "we are confident" or similar expressions. These
forward-looking statements are based on information currently
available to SpatiaLight and are subject to a number of risks,
uncertainties and other factors that could cause SpatiaLight's
actual results, performance, prospects or opportunities in the
remainder of 2006 and beyond to differ materially from those
expressed in, or implied by, these forward-looking statements.
These risks and uncertainties are outlined in the company's filings
with the U. S. Securities and Exchange Commission, including its
most recent reports on Form 10-K/A and Form 10-Q. DATASOURCE:
SpatiaLight, Inc. CONTACT: Ted Banzhaf, Executive Vice President of
SpatiaLight, Inc., +1-415-883-1693, or Web site:
http://www.spatialight.com/
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