SpatiaLight, Inc. Reports 1998 Results

NOVATO, Calif., April 7 -- SpatiaLight, Inc., a developer of liquid crystal on silicon (LCOS) micro display devices, reported revenues for the year ended December 31, 1998 of $29,750 with a net loss of $3.18 million, or a loss per basic and diluted share of $0.34. These figures compare with 1997 revenues of $325,000 with a net loss of $3.32 million, or a loss per basic and diluted share of $0.38.
Revenues in 1998 were comprised of sales of developer kits of the Company's displays, while those in 1997 were revenues from a non-recurring engineering contract. According to SpatiaLight CEO Michael Burney, the 1998 decrease in net loss from the prior year was attributed to a $582,065 reduction in total operating expenses.