Nexxus incurs increased losses - Charlotte Business Journal:

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The Charlotte-based company incurred a fourth-quarter net loss of $6.5 or 80 cents per diluted share, compared with a net loss of $1.3 or 19 cents per diluted a year ago. The latest results include a $3.9 millio charge related to restructuring and debt extinguishment and an abandonedpublicd offering. Revenue increased 33 percent to $3.5 For the full year, Nexxues lost $10.5 million, or $1.35 per diluted share, compared with $2.9 or 44 cents per diluted share, in 2007. Saleas grew 40 percent to $14.2 “Fiscal 2008 was a challenging year forthe U.S.
and its effect on consumer confidence and financial markets reflects the turmoil facinyg the lighting industry andour business,” says Gary chief financial officer. “Nevertheless, we are pleased with the investmentzs and strategic decisions that we have made to position us in the Asof Dec. 31, the compant had no long-term debt and had cash and cash equivalentsd ofnearly $3 million. Nexxus markets light-emittingt diodes used in commercial-lighting The company (NASDAQ:NEXS) was founded in 1991 and movee its headquarters to Charlotte in 2007from Fla. The company, formerly knowm as Super VisionInternationalk Inc., completed its initial public offerinf in March 1994.