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Bsquare reports second quarter results, touts accomplishments
Aug. 11, 2005

Bsquare has reported financial results for its fiscal 2005 second quarter and half-year ending June 30. The company said the quarter's revenue was "better than expected," and noted that it worked on 52 service engagements, including several Pocket PCs, a Smartphone, and Windows XP Embedded-based kiosk, point-of-sale, and gaming devices.

Bsquare reported total revenue of $10.3 million in the second quarter, compared to $8.8 million in the second quarter of 2004 and $9.8 million in the first quarter of this year, representing increases of 17 percent and 5 percent respectively. Total revenue for the six months ending June 30 was $20.1 million, compared to $19.4 million in the same six-month period of 2004. The company reported a net loss for the quarter of $37,000, compared to a net loss of $5.1 million in the second quarter of 2004 and $545,000 in this year's first quarter.

The "better than expected" Q2-05 revenue was driven by strength in all revenue categories which, in turn, contributed to a nearly break-even quarter, Bsquare said.

According to Bsquare, key milestones during the quarter included:
  • Acquisition of the embedded assets of Vibren Technologies including several products, ongoing relationships with new customers, expanded relationships with existing customers and a number of experienced personnel.

  • SDIO Now! v2.x features performance enhancements, support for 2MB and 4MB Secure Digital (SD) memory cards as they become available, SD security, and MMC memory cards.

  • Worked on 52 service engagements including several Pocket PC development efforts, Smartphone development, Windows CE 5.0-based board support packages, quality assurance testing, and Windows XP Embedded-based development for kiosk, point-of-sale, and gaming devices.

  • Signed a contract with a Taiwanese partner for co-development of a next-generation Intel PXA270 wireless reference design. This is part of the company's initiative to offer reference designs in a number of technology verticals.
"This was a very solid quarter financially and we demonstrated progress in a number of key areas," said Brian Crowley, president and CEO. "The continued investment in, and expansion of, our SDIO Now! technology and our reference design initiatives are examples of the approach we are taking to create additional products to sell to our substantial customer base."



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