PETALUMA -- Tegal Corp. (NASDAQ: TGAL) today announced fiscal third-quarter revenues were $1.3 million, a decrease of more than 74 percent from $5.1 million in the same period last year and down 59 percent from $3.2 million in the prior fiscal quarter.
The company reported a quarterly net loss of $100,000, or 1 cent per share, for the quarter. In the same period last year, Tegal had a net loss of $8.8 million, or $1.04 per share. Net income in the second quarter was $100,000, or 2 cents per share.
Tegal last week announced a shift in focus from production of semiconductor chip fabrication equipment to development and application of both proven and emerging technologies in the field of green energy.
Net loss for the first nine months ended of fiscal 2011 was $2.4 million, or 29 cents per share, compared with $13.1 million, or $1.55 per share in the first three quarters of last fiscal year.
At the end of the third quarter, Tegal had $7.9 million in cash.
The company's stock price was 74 cents per share at the end of trading Monday, a decrease of almost 14 percent from the closing price Friday.