LONDON High performance processor specialist ClearSpeed Technology reported a 78 percent increase in turnover for the year ended 31 December 2005 to £439,000 ($764,000) but a pre-tax loss of £6.8million ($11.8 million), which was up from £4 million ($7 million) in the previous year.
The growth in revenues occurred mainly towards the end of the year following the launch of the Bristol, England- based company’s first commercial product.
Second half turnover hit £293,000 ($510,000). The company said Monday (March 27) it has just over £22 million ($38 million) of cash to continue the development of its processors, following a placing in December 2005 that raised £20 million ($34.8 million).
Part of these extra funds is being used to finance the volume production of the company’s CSX600 processors and the Advance Boards, which integrate two of the processors.
The CSX600 64-bit floating point co-processor was first last June at a supercomputer conference in Heidelberg, Germany. The co-processor is said to deliver a sustained performance of up to 25-GFLOPS at less than 10 watts power consumption.
The company said it spent £4.7 million ($8.2 million) on research, design and development during the year. Marketing and administrative expenses were up from £1. 8 million in 2004 to £2.7 million, with the majority of the increase incurred during the second half of 2005 to reflect the build-out of sales and customer and marketing support.
Looking forward, ClearSpeed said it continues to make good progress with the order from Sun Microsystems for the Tokyo Institute of Technology now shipped, a “significant” milestone in the group's development.
Tom Beese, ClearSpeed Chief Executive Officer, commented:“We made considerable progress during 2005, achieving a number of significant milestones in our markets and product development whilst at the same time containing costs. These included delivering the world’s highest performance processor for 64-bit floating point operations, and culminated in Q4 in selection within the consortium to provide Japan’s highest performance compute”.
Beese added: “The increased awareness of and interest in our technology from potential partners and customers is confirmation that we are well placed to exploit major trends within the industry and to capitalise on and develop our position as the designer and supplier of the world’s fastest and most power-efficient multi-core processor.”
ClearSpeed said earlier this year that it is working with AMD about producing a closely-coupled co-processor to improve the performance of the latter’s multi-core range of x86 processors.