March Networks shows improved financial results

Improved international sales and cost-cutting has enabled MarchNetworks to dip less deeply into the red. The Ottawa maker ofIP-based video surveillance systems said Thursday it suffered a net loss for its first quarter (which ended July 31) of$489,000, compared to a net loss of $1.9 million for the fourthquarter of fiscal 2009. By comparision it had a net loss of $2.4million in the first quarter of fiscal 2009. First quarter fiscal 2010 revenue was $24.0 million, anincrease of 12 per cent over the $21.5 million in the fourth quarter offiscal 2009, but a decline of 14 per cent compared to revenue of $27.8million in the first quarter of fiscal 2009.International revenueswere a bright spot, up 10 per cent year over year and up 58 per centfrom Q4 2009. “The company's lower operating coststructure has allowed the company to stay on course for improvedprofitability in fiscal 2010,” Ken Taylor, March's CFO said in a newsrelease. “We also continue to anticipate revenue growth in fiscal 2010as compared to fiscal 2009 despite challenging marketconditions.”

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