Broadband chip set provider Centillium Communications said late Thursday (Oct. 28) it has reduced its work force and cut development programs in an effort to lower operating expenses and save approximately $4.5 million in the first quarter of 2005.
Centillium's announcement came on the same day that the company announced its third quarter 2004 numbers. In the quarter, the company reached revenues of $20.4 million, which was a 10 percent increase over numbers achieved in the second quarter of 2004. The company also reported a let loss of $7.6 million, or 20 cents per share, which compares to a net loss of $11 million, or 29 cents per share, in Q2.
While showing stronger revenue totals, Centillium is following the path of other chip developers by cutting expenses. Specifically, the company said it would continue to streamline its organization by reducing its work force. The company also said that it would cancel "certain development programs." Specifics on the cuts were not provided.