More red ink for Transmeta

Electronic News reported:

The company, first founded in 1995, will run out of cash at its current burn rate by the middle of this year, according to analysts, and to avert the crisis Transmeta said in January that it was subsequently developing alternative business models. The company plans to discuss its future plans in a conference call scheduled for this Thursday at 2 p.m. PDT. (U.S.).

For all of 2004 Transmeta posted net revenue of $29.4 million, compared with $17.3 million for 2003. The company's net loss for 2004 was $106.8 million, or 61 cents per share, compared with a net loss of $87.6 million, or a loss of 63 cents per share, in 2003.

Read the whole story here.

Hat tip reed-electronics.com