MEMSCAP reports $29.6M net loss

March 24, 2003 — MEMSCAP SA reported a net loss of $29.6 million for its fiscal year ending Dec. 31.

The French MEMS maker, which has offices in San Jose, Calif., said costs included the startup of its manufacturing facility in Bernin, France, transition and integration of the former JDS Uniphase MEMS unit and an increased budget for research and development. Consolidated revenue for the year was $6 million.

The company announced in February that it would cut about 70 jobs as part of a plan to reduce costs by $7.5 million this year.

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