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TranSwitch Releases Q3 Data

SHELTON, Conn. — TranSwitch Corporation (NASDAQ: TXCC), a leading provider of semiconductor solutions for the converging voice, data and video network, today announced financial results for the third quarter ended September 30, 2011.

Net revenues for the third quarter of 2011 were approximately $6.7 million, as compared to net revenues of $7.1 million for the second quarter of 2011 and $12.8 million for the third quarter of 2010. Net loss for the third quarter of 2011 was ($4.8) million, or ($0.16) per basic and diluted common share, as compared to a net loss of ($3.0) million, or ($0.11) per basic and diluted common share for the second quarter of 2011, and a net loss of ($1.8) million, or ($0.08) per basic and diluted common share for the third quarter of 2010.

The GAAP gross margin for the third quarter was 65%. This is compared to the Company's GAAP gross margin of 67% for the second quarter of 2011, and 56% for the third quarter of 2010.

Total non-GAAP operating expenses for the third quarter of 2011 were $7.4 million, as compared to $7.5 million in the second quarter of 2011 and $6.6 million in the third quarter of 2010. Non-GAAP operating expenses for the third quarter of 2011 exclude $0.4 million in amortization of purchase price intangibles, $0.6 million in stock-based compensation and $0.9 million in restructuring charges along with a benefit of $0.5 million from the reversal of accrued royalties. Total GAAP operating expenses for the third quarter of 2011 were $8.8 million.

Non-GAAP operating loss for the third quarter of 2011 was ($3.1) million, compared to a non-GAAP operating loss of ($2.7) million for the second quarter of 2011 and non-GAAP operating income of $0.6 million for the third quarter of 2010. On a GAAP basis, the operating loss for the third quarter of fiscal 2011 was ($4.5) million, compared to an operating loss of ($2.9) million for the second quarter of fiscal 2011 and an operating loss of($0.4) million for the third quarter of 2010.

Non-GAAP net loss for the third quarter of 2011 was ($3.4) million, or ($0.11) per share compared with a non-GAAP net loss of ($2.8) million, or ($0.10) per share, for the second quarter of 2011 and a non-GAAP net loss of ($0.8) million, or ($0.04) per share, for the third quarter of 2010.

Further information about non-GAAP measures and reconciliation to the GAAP results is provided after the financial statements attached to this release.

“We continue to make progress on the development of new products for multimedia connectivity and processing,” stated Dr. M. Ali Khatibzadeh, President and CEO of TranSwitch Corporation. “During the quarter, we launched a complete reference design for LTE fixed wireless applications in the growing 4G wireless broadband market. This reference design includes our Atlanta 2000 processor and software in partnership with LTE modem providers. The emerging 4G LTE fixed-wireless gateway market represents a significant growth opportunity for our telecom business.”

Additional details on TranSwitch’s third quarter 2011 financial results will be discussed during a conference call regarding this announcement today at 5:30 pm Eastern time. To listen to the live call, investors can dial 719-325-2298 and reference confirmation code: 4229642. The call will be recorded and a replay will be available two hours after the conclusion of the live broadcast through November 15, 2011. To access the replay, dial 719-457-0820 and enter confirmation code: 4229642. Investors can also access an audio webcast which will be broadcast through Vcall’s Investor Calendar at www.investorcalendar.com or the Company’s website at www.transwitch.com. This audio webcast will also be available on a replay basis for 10 business days.

{complink 5835|TranSwitch Corp.}

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