By Lisa Johnston
New products on display at the American International Toy Fair, held in N
RICHARDSON, TEXAS -Device networking and broadband communications company Panja said net sales for the fiscal third quarter ended Dec. 31 climbed 24 percent to $24.2 million, compared with $19.5 million in the same quarter last year.
Residential revenue-which includes the Broadband Consumer Products Group that manufactures and markets systems for streaming audio and video Internet content directly to home entertainment components-grew 19 percent over the year-ago period.
Panja reduced its net loss for the quarter to $385,000, compared with a net loss of $4.1 million in the same three months in 1999, which included $3.4 million in restructuring charges.
For the nine months, net sales increased 21 percent to $71.3 million, compared with $58.7 million in the year-ago nine months.
Residential revenue was $16.5 million, a 17 percent increase from the $14.1 million recorded in the year-ago period. The company reduced its net loss to $851,000 for the nine months, compared with $3.4 million in the same period in 1999.
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.