Straight Path Communications Inc. (NYSE MKT: STRP), a communications asset company, for its third quarter of fiscal 2017, ended April 30, 2017, reported total revenues of USD 0.2 million unchanged from the prior fiscal quarter and the third quarter fiscal 2016, the company said.
Loss from Operations of USD 4.0 million compared to Loss from Operations of USD 25.8 million in the prior fiscal quarter and USD 1.9 million in third quarter 2016. The current quarter´s loss includes USD 144 thousand of R&D expenses and USD 1.0 million in non-cash compensation related to the issuance and vesting of equity grants.
Net Loss attributable to SPCI of USD 6.0 million in this quarter, compared to USD 25.4 million in the prior fiscal quarter and USD 1.8 million in third quarter fiscal 2016.
Cash and cash equivalents of USD 14.6 million at April 30, 2017, up by USD 6.8 million from the prior quarter close.
Straight Path Communications Inc. (NYSE MKT: STRP) holds an extensive portfolio of 39 GHz and 28 GHz wireless spectrum licenses through its Straight Path Spectrum subsidiary. Straight Path is developing next generation wireless technology through its Straight Path Ventures subsidiary. Straight Path holds, licenses, and conducts other business related to certain patents through its Straight Path IP Group subsidiary.