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InFocus Up For Sale After Big Loss

InFocus Up For Sale After Big Loss

The company has confirmed that has hired Thomas Weisel Partners to explore “unsolicited offers” to buy the company. The Company saw a 27% decline in revenues.

The evaluation process is ongoing, and InFocus will provide updates when its has either reached a definitive agreement with a party or terminated the process said a Company spoksprson.

“The fourth quarter concluded what was a very challenging year for InFocus. We entered the quarter with cautious optimism and new products in the pipeline, ready for sale. However, we realized mid-quarter that the continued economic downturn and global reduction in IT spending would require us to re-evaluate our near term priorities and take measures to dramatically reduce our cost structure. On December 15, we announced a significant business restructuring aimed at reducing our breakeven point and preserving cash.” InFocus president and CEO Bob O’Malley said.

O’Malley says InFocus is targeting a quarterly breakeven point of revenue between $50 million to $55 million with gross margins of 18 percent and operating expenses ranging from $10 million to $11 million per quarter. InFocus reports it has $33.4 million in cash reserves.