RICHARDSON, TX – Telecom ODM TXP Corp. reported third-quarter revenue of $2.7 million, an increase of 61% year-over-year. The net loss was $1.3 million, compared to net income of $2.2 million in 2006. The company's thriving prototype design and assembly business was offset by R&D costs related to its optical network terminal product development.
 
For the quarter, the operating loss was $1.7 million, up about 88% year-over-year.

Net income in the third quarters of 2006 and 2007 included a non-cash gain of approximately $2.7 million and $700,000, respectively, related to change in fair value of derivative financial instruments.

Demand for prototype services was up 35% versus a year ago, and according to vice president Eric Miscoll, "is growing and continues to grow." The number of customers rose to 139 from 103 over the past year.

The company's iPhotonics unit, which develops and produces ONTs, continues to make progress, the company said. In a statement, president and CEO Michael Shores said, "We expect to see significant growth from this unit going forward. We now have a number of OEM customers in active trials with carriers and we made our first significant sales in Europe in the third quarter."

ONTs connect the “last mile” of provider-to-user telecom services, enabling integrated voice, video and high-speed internet access. TXP's family of ONTs are interoperable across 14 OLT providers versus 10 less than a quarter ago, which has contributed to the company's ability to obtain new business, Shores said.

TXP specializes in quickturn PCB assemblies and optoelectronics prototyping, new product introduction and pilot production for OEMs)and contract manufacturers.

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