Hope these losses are factored into the price or we are heading due south tomorrow. Comments??
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Tuesday November 25, 4:29 pm Eastern Time
Company Press Release
SOURCE: Datawatch Corporation
Datawatch Reports Results For Fiscal 1997
WILMINGTON, Mass., Nov. 25 /PRNewswire/ -- Datawatch Corporation (Nasdaq: DWCH - news) today announced results for the fiscal year ended September 30, 1997. Revenues for the year were $32,047,000, an increase of 7% from the net sales of $30,022,000 for the prior fiscal period. The Company had a net loss of $1,995,000 or $.22 per share, compared to a net profit of $1,125,000 or $.13 per share last year.
Revenues for the fourth quarter were $8,023,000, an increase of 4% from $7,698,000 for the prior year. A net loss for the fourth quarter of $1,067,000 or $.12 per share, compared to a profit of $342,000 or $.04 per share a year ago.
Commenting on the results, Bruce R. Gardner, Datawatch President & CEO said: ''Fiscal 1997 sales were well below our expectations, resulting in significant losses. Datawatch however did accomplish a great deal toward improving upon and expanding its software product offerings. In particular, with the introduction of Monarch/ES(TM), our new report warehouse and the enhancements to our Q-Support/Quetzal products, Datawatch has increased its enterprise-wide software solutions and has begun a campaign to ensure that the business world is aware of the many benefits that can be derived from the implementation of these software applications. With the October 1997 sale of our Macintosh software products to Dr Solomon's Software and the company's subsequent reorganization, Datawatch now has the financial strength and business focus on which to begin the new year. During fiscal 1998 we look forward to the challenge of increasing our products sales, with the goal of significantly improving our bottom line results.''
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