Netlist reported financial results for the fourth quarter and full year ended December 27, 2014. Q4 revenues were $2.5 million.
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This compares to revenues of $7.7 million for the fourth quarter ended December 28, 2013. Gross loss for the three months ended December 27, 2014, was ($0.1) million compared to a gross profit of $1.9 million, for the fourth quarter ended December 28, 2013.
Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) was a loss of ($4.8) million for the fourth quarter ended December 27, 2014, compared to an adjusted EBITDA loss of ($0.5) million for the prior year period.
Net loss for the fourth quarter ended December 27, 2014, was ($5.8) million, or ($0.14) loss per share, compared to a net loss in the prior year period of ($1.6) million, or ($0.05) loss per share. These results include stock-based compensation expense of $0.5 million for the fourth quarter of 2014, compared to $0.4 million for the fourth quarter of 2013.
Revenues for the twelve months ended December 27, 2014, were $19.2 million, compared to revenues of $23 million for the twelve months ended December 28, 2013.
Gross profit for the twelve months ended December 27, 2014, was $4 million, or 20.7 percent of revenues, compared to a gross profit of $3.1 million, or 13.5 percent of revenues, for the twelve months ended December 28, 2013.
Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) loss was ($12.9) million for the twelve months ended December 27, 2014, compared to an adjusted EBITDA loss of ($8.3) million for the prior year period.
Net loss for the twelve months ended December 27, 2014, was ($15.4) million, or ($0.38) loss per share, compared to a net loss in the prior year period of ($10.8) million, or ($0.35) loss per share. These results include stock-based compensation expense of $2 million and $1.7 million for the twelve month periods ended December 27, 2014 and December 28, 2013, respectively.
As of December 27, 2014, cash and cash equivalents and restricted cash were $11.7 million, total assets were $16.2 million, working capital was $7.9 million, total debt, net of debt discounts, was $5.8 million, and stockholders’ equity was $4.7 million. ■