Milpitas, Calif.--Oct. 30, 1997--Paradigm Technology Inc.announced financial results for the third quarter of 1997.
Revenue for the third quarter was $3.6 million, compared with $5.2 million in the year-ago quarter and $3.5 million for the second quarter of 1997. Net loss for the third quarter of 1997 was $3.0 million, or 39 cents per share, compared with a net loss of $7.3 million, or $1.01 per share, for the third quarter of 1996 and a net loss of $1.1 million, or 19 cents per share, in the second quarter of 1997.
Included in the loss for the current quarter were additional expenses attributable to an increase in inventory reserves and a loss on the sale of excess capital equipment. Weighted average shares outstanding in the third quarter of 1997 were 8,843,000, compared with 7,184,000 in the year-ago period.
Loss per share includes the effect of accretion related to preferred stock for the current quarter and year to date of 5 cents and 15 cents, respectively.
For the nine months ended Sept. 30, 1997, revenue was $10.6 million, vs. $20.1 million for the prior-year period. Net loss for the nine-month period was $6.7 million, or $1 per share, compared with a net loss of $23.7 million, or $3.33 per share, for the year-ago period.
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