SUNNYVALE, Calif.-Conductus Inc. reported revenues for the fourth quarter, ended Dec. 31,
decreased by 36 percent to $1.3 million, compared with $1.9 million of revenues reported for the same time in 1997.
Revenues for the year also decreased from $9.5 million in 1997, to $4.7 million in 1998.
Net loss for the fourth
quarter totaled $1.6 million, or 23 cents per share, compared with a net loss of $2.3 million, or 33 cents per share, for
the same time the previous year.
For the year, Conductus reported a net loss of $7.8 million, or $1.10 per share,
compared with a net loss of $7.5 million, or $1.09 per share, for 1997.
Charles Shalvoy, Conductus president and
chief executive officer, said revenues decreased in 1998 because the company “completed the transition from a
high-temperature superconductor company pursuing multiple markets, to a high technology company focused on the
rapidly growing wireless communications market.” To accomplish this shift, in 1997, the company ” sold
two product businesses and narrowed the scope of the research and development contracts we pursued.”
