We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Collabrx, Inc. (MM) | NASDAQ:TGAL | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 3.55 | 0 | 01:00:00 |
Tegal Corporation (NASDAQ:TGAL) today announced financial results for the Fourth Quarter and Fiscal Year 2012, which ended March 31, 2012.
Fiscal 2012 Fourth Quarter Financial Statement Highlights
Fiscal 2012 Financial Statement Highlights
Fiscal 2012 Business Highlights
Tegal and its portfolio companies achieved numerous milestones in Fiscal Year 2012. Tegal’s two portfolio companies are Sequel Power, a private company dedicated to the development and operation of large scale photovoltaic (PV)-based solar utility projects, and NanoVibronix Inc., a private company that develops medical devices and products that implement its proprietary therapeutic ultrasound technology.
Among the highlight’s of Fiscal 2012:
“Tegal emerges from Fiscal 2012 with a substantially strengthened balance sheet and excellent prospects for additionally monetizing our IP portfolio,” said Thomas Mika, President and Chief Executive Officer of Tegal. “Our investment focus became more tightly focused on healthcare technologies, whose growth is driven by government mandates and increasing demands for efficiency. We expect healthcare technology to be a significant part of our growth in Fiscal 2013.”
Safe Harbor Statement
Except for historical information, matters discussed in this news release contain forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. Forward-looking statements, which are based on assumptions and describe our future plans, strategies and expectations, are generally identifiable by the use of the words "anticipate," "believe," "estimate," "expect," "intend," "project" or similar expressions. These forward-looking statements are subject to risks, uncertainties and assumptions about the Company including, but not limited to industry conditions, economic conditions, acceptance of new technologies, market acceptance of the Company's products and services, the Company’s exploration and execution of strategic alternatives. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements in this paragraph. For a further discussion of these risks and uncertainties, please refer to the Company's periodic filings with the Securities and Exchange Commission.
About Tegal
Since its founding in 1972, Tegal Corporation has been dedicated to the development and application of emerging technologies. Often on the forefront of major inventions, Tegal’s process and capital equipment know-how enabled the development and manufacturing of leading-edge devices – from early microprocessors to advanced memory and LEDs, as well as to newest filtering and sensing devices that are present in the most advanced smart phones. Tegal draws upon its historic market and technology leadership in semiconductors and MEMS devices to engage in the promotion of other emerging technologies, including PV-based solar power generation and medical diagnostic and therapeutic devices. Tegal is actively evaluating opportunities for partnerships with diversified technology-based companies in order to exploit our shared experience and to enhance our value as a public company. Tegal is headquartered in Petaluma, California. Please visit us on the web at www.tegal.com.
TEGAL CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
ASSETS
March 31,2012
March 31,2011
Current assets: Cash and cash equivalents $ 7,820 $ 7,575 Restricted Cash -- 200 Prepaid expenses and other current assets 56 139 Other assets of discontinued operations 418 1,129 Total current assets 8,294 9,043 Property and equipment, net 56 112Investment in unconsolidated affiliate
-- 2,046 Investment in convertible promissory note 312 -- Total assets $ 8,662 $ 11,201 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable $ 1 $ 262 Common Stock Warrant Liability 19 26 Accrued expenses and other current liabilities 316 94 Liabilities on discontinued operations 246 1,410 Total liabilities 5821,792
Stockholders’ equity: Common stock 17 17 Additional paid-in capital 129,052 128,977 Accumulated other comprehensive income (142) (167) Accumulated deficit (120,847) (119,418) Total stockholders’ equity 8,080 9,409 $ 8,662 $ 11,201TEGAL CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
Year Ended
March 31,
2012 2011 Revenue – related party $ 100 $ 16 Operating expenses: General and administrative expenses 2,615 1,883 Total operating expenses 2,615 1,883 Operating loss (2,515) (1,867) Equity in (loss) and impairment of unconsolidated affiliate (2,046) (179) Other income (expense), net 18 337 Loss before income tax benefit (4,543) (1,709) Income tax expense (benefit) expense -- -- Loss from continuing operations (4,543) (1,709) Gain on sale of discontinued operations, net of tax 2,930 506 Income (loss) from discontinued operations, net of taxes 184 (1,927) Income (loss) from discontinued operations 3,114 (1,421) Net loss $ (1,429) $ (3,130)Other comprehensive income (loss)
25 (18) Total comprehensive (loss) $ (1,404) $ (3,148) Net (loss) income per share from continuing operations: Basic and diluted $ (2.69) $ (1.01) Net (loss) income per share from discontinued operations: Basic and diluted $ 1.84 $ (0.84) Net (loss) income per share: Basic and diluted $ (0.85) $ (1.85) Weighted average shares used in per share computation: Basic and diluted 1,689 1,689The weighted average number of shares and the (loss) income per share reflect a 1-for-5 reverse split effected by the Company on June 15, 2011
1 Year Tegal Chart |
1 Month Tegal Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions