price to close at $1.79 per share. Along with the price change, its volume made a phenomenal jump to over 3 million shares traded, which is a significant progress for TRID.[BANNER]As there is not much news on the company’s business these days, the only reasonable explanation on the stock move appeared to be its latest financial results. For the second quarter of this year, TRID reported a $171.6 million revenue, which caught the investors’ eye. The unexpected revenue went far beyond the analysts’ expectations and the stock moved up immediately.
Still, TRID has generated a net loss of $49 million, or $0.28 per share, which is higher as compared to the net loss of $7.6 for the previous quarter.
The company stated it is absolutely satisfied with its financials and has all the sufficient capital to cover its business operations.
Another optimistic announcement placed TRID among the top 5 panel and TV manufacturers and the company claims it is confident about its market positions.
Following the records, we notice that last year Trident used to trade much higher. In October, the price reached $3.00 per share, though a downtrend followed shortly after that.
Trident Microsystems develops and markets integrated circuits for digital media applications, such as digital television and liquid crystal display. In February this year the company acquired NXP Semiconductor’s television systems and set-top box business lines and estimates that it has leading market share of greater than 50% in FRC co-processors. However, today the high move of the stock was broken and the company’s expectations are up to be proved.
