March Networks suffered another quarterly net loss of $1.3 million, the Ottawa IP video surveillance company said Wednesday. However, that included $1.2 million of restructuring charges – including layoffs – that took place during the quarter that ended Jan. 31. The company has been struggling for over a year to get solidly into the black.
Revenue for Q32009 was $23.6 million, an increase of 12 per cent compared to revenue in the third quarter of fiscal 2008. Revenue for the first nine months of fiscal 2009 totalled $79.7 million, up 9 per cent as compared to the first nine months of fiscal 2008. However, for the first nine months of fiscal 2009, March posted a loss of $4.7 million. By comparision, the company had a net loss of $3.4 million for the first nine months of 2008.
“Q3 results demonstrate continued progress towards achieving the company’s FY2009 strategic objectives in a challenging economic environment as evidenced by on-going revenue growth and diversification, a second consecutive quarter of positive operating earnings and strong positive cash flow” Peter Strom, president and CEO, said in a news release.
The company is maintaining its original guidance for the fiscal year ending April 30, 2009 of revenue in the range of $100 million to $115 million.

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Howard Solomon
Currently a freelance writer, I'm the former editor of ITWorldCanada.com and Computing Canada. An IT journalist since 1997, I've written for several of ITWC's sister publications including ITBusiness.ca and Computer Dealer News. Before that I was a staff reporter at the Calgary Herald and the Brampton (Ont.) Daily Times. I can be reached at hsolomon [@] soloreporter.com