It just keeps getting better...
Zix falls on Q2 loss, Q1 restatement
By Carolyn Pritchard, CBS MarketWatch.com
Last Update: 5:34 PM ET Aug. 5, 2004
SAN FRANCISCO (CBS.MW) -- Zix shares lost 10 percent in late trade Thursday after the company posted a wider second-quarter loss and said it was restating first-quarter results downward.
Shares of the Dallas-based e-messaging protection service were last changing hands for $4.15, down 48 cents.
Zix (ZIXI: news, chart, profile) posted a second quarter net loss of $9.9 million, or 31 cents a share, compared with a net loss of $6.1 million, or 31 cents a share, in the same quarter a year earlier.
Sales rose to $3.5 million from $1 million.
Zix said it's restating first-quarter numbers to change certain accounting relating to its acquisition of the assets of MyDocOnline at the end of January.
As a result, the first-quarter net loss of $10.7 million will be increased by $264,000.
Looking ahead, Zix said it expects to report third-quarter revenue of $4 million to $4.5 million. Ahead of that report, two analysts polled by Thomson First Call were looking for $5 million in revenue for the period. |
