"ThrustMaster Announces Significantly Lower Revenue and Loss for the Fourth Quarter"
HILLSBORO, Ore.--(BUSINESS WIRE)--Nov. 30, 1998--"ThrustMaster Inc. (Nasdaq:TMSR - news), today announced that it expects revenue for the fourth quarter ending Dec. 31, 1998, to be in the range of $12 to $15 million, representing a significant increase in revenue from the third quarter ended Sept. 30, 1998, but a significant decline in revenue compared to the fourth quarter of 1997.
The company also expects a loss for the quarter and anticipates such loss to be significantly less than the loss reported by the company for the third quarter ended Sept. 30, 1998.
''While we are currently seeing relatively strong channel demand for our new products this quarter in both the U.S. and Europe, a convergence of factors, including manufacturing delays and shipping container shortages, hampered our ability to get our new products to market early in the quarter,'' said Frank G. Hausmann, ThrustMaster's new President and CEO. ''As a result, we are incurring significant additional expense to air freight our new products to the U.S. and Europe,'' Hausmann added..."
source: © 11/30/98
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