Palm Beach, FL 1/19/12 (StreetBeat) -- AltiGen Communications, Inc. (Pinksheets: ATGN), the leading provider of integrated Microsoft-based Unified Communications solutions, announced today its first quarter ended December 30, 2011 financial results.First Quarter 2012 Financial Highlights:
First-quarter revenue up 10% over prior quarter
Gross margin improved by 10% to 69.5%
Net loss reduced by 99%
Jeremiah Fleming, AltiGen's President and Chief Executive Officer, stated, "We are pleased with the progress we made this quarter, both in terms of growing the top line and in substantially reducing our losses. The increase in revenue over last quarter was largely accomplished by sustaining our legacy business along with contributions from our new products. As a result, FYQ1 was second highest first quarter revenue in the history of the company."
Revenue for the first quarter of fiscal 2012 was $4.8 million, compared to $4.3 million in the preceding quarter, and compared to $4.6 million during the same period in fiscal 2011. Gross margin in the first quarter of fiscal 2012 was 69.5%, compared to 64.2% in the preceding quarter, and compared to 67.6% during the first quarter of fiscal 2011. Operating expenses totaled $3.3 million, compared to $3.7 million in the preceding quarter, and $3.5 million during the same period in fiscal 2011.
Net loss for the first quarter of fiscal 2012 was $9,000, or a loss of $0.00 per share, compared to a net loss of $861,000, or a loss of $0.05 per share in the preceding quarter, and compared to a net loss of $372,000, or a loss of $0.02 per share during the first quarter of fiscal 2011.
The Company ended its first fiscal quarter with $4.3 million in cash, cash equivalents.
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