MathStar Announces Financial Results for Q4 and Fiscal Year 2007

HILLSBORO, Ore., Feb. 19 /PRNewswire-FirstCall/ -- MathStar, Inc. (Nasdaq: MATH), a fabless semiconductor company specializing in high-performance programmable logic, today announced results for its fourth quarter and fiscal 2007, ended Dec. 31...


HILLSBORO, Ore., Feb. 19 /PRNewswire-FirstCall/ -- MathStar, Inc. (Nasdaq: MATH), a fabless semiconductor company specializing in high-performance programmable logic, today announced results for its fourth quarter and fiscal 2007, ended Dec. 31, 2007 .

Revenue in the fourth quarter was $313,000, compared with $63,000 in the third quarter and $7,000 in the same period last year. Total revenue for 2007 was $588,000, compared with $53,000 in 2006.

Net loss in the fourth quarter was $5,970,000, or $0.13 per share, compared with a net loss of $5,699,000, or $0.28 per share, in the same period last year. Net loss for 2007 was $20,365,000, or $0.59 per share, compared with $22,643,000, or $1.26 per share, for fiscal year 2006.

"We made significant progress during 2007, penetrating tier-one customers in the professional and broadcast video industry, such as LG and LodgeNet," said Dan Sweeney , MathStar's president and chief operating officer. "We believe that we are starting to see the revenue ramp for MathStar, as we demonstrate similar success with additional customers," he added.

The company has scheduled its fourth quarter 2007 financial results conference call for Tuesday, Feb. 19, 2008 at 1:30 p.m. Pacific time . To listen to the call, please dial 303-205-0044 or 800-366-3964. A replay of the call will be made available on the company's website at http://www.mathstar.com.

About MathStar, Inc.

MathStar is a fabless semiconductor company offering best-in-class, high performance programmable logic solutions. MathStar's Field Programmable Object Array (FPOA) can process arithmetic and logic operations at clock rates at 1 gigahertz, which is up to four times faster than even the most advanced FPGA architectures in many applications. MathStar's Arrix family of FPOAs are high-performance programmable solutions that enable customers in the machine vision, high-performance video, medical imaging, security and surveillance and military markets to rapidly and cost effectively innovate and differentiate their products. FPOAs are available now and are supported by development tools, IP libraries, application notes and technical documentation. For more information, please visit http://www.mathstar.com.

Statements in this press release, other than historical information, may be "forward-looking" in nature within the meaning of the Private Securities Litigation Reform Act of 1995 and are subject to various risks, uncertainties and assumptions. These statements are based on management's current expectations, estimates and projections about MathStar and its industry and include, but are not limited to, those set forth in the section of MathStar's Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 14, 2007 under the heading "Risk Factors." MathStar undertakes no obligation to update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.

SOURCE MathStar, Inc.