UPDATE 1-Netlist Q1 loss narrows, shares up

Tue May 11, 2010 5:17pm EDT

* Q1 rev up nearly 265 percent

* Shares up 16 pct after the bell

May 11 (Reuters) - Netlist Inc's (NLST.O) quarterly loss narrowed, helped by strong demand for its memory parts used in the server and communications markets and higher margins, sending its shares up 16 percent.

Net loss for the first quarter ended April 3 was $3 million, or 14 cents a share, narrower than a loss of $3.8 million, or 19 cents a share, in the year-ago period.

Revenue rose by about $5.7 million to $7.9 million.

Gross profit margin was 23 percent, compared with a negative margin of 24.8 percent in the first quarter of 2009.

Shares of the company, which designs and makes memory subsystems for the server and communications markets, were up 43 cents at $3.08 in trading after market hours. They closed at $2.65 Tuesday on Nasdaq.

For the alerts, click here. [ID:nASA00CPV] (Reporting by Deepti Govind in Bangalore; Editing by Aradhana Aravindan)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.