Focus Enhancements Reports Second Quarter 2007 Results

Focus Enhancements, a worldwide leader in Ultra Wideband (UWB) wireless technology, video conversion and digital media, has announced financial results for its second quarter and the six months ended June 30, 2007.
"During the second quarter, we posted $8.4 million in revenue, up 18% from $7.1 million in the first quarter of 2007," stated Brett Moyer, president and CEO of Focus Enhancements. "This increase was driven by a 20% sequential increase in the Systems Business revenue, reflecting strong FireStore and ProxSys sales. In addition, improved Systems Business pricing and overall a more favourable product mix drove gross margin as a percent of revenue to 47%, compared to 45% in the first quarter of 2007. The improved gross margin combined with cost controls narrowed our net loss."
For the six months ended June 30, 2007, revenue was $15.4 million, compared to $15.6 million reported for the same period of 2006.
Net loss for the six month period was $8.4 million, or $0.11 per share. This compares to a net loss of $12.0 million, or $0.18 per share, in the same period of 2006.
The weighted average number of shares outstanding in 2007 was 75.7 million versus 68.5 million in 2006 for the six-month period ended June 30.
(SP)