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April 06, 1999 10:02
Software Publishing Sees $2.4M 1998 Net Loss vs $9.8M In 97 (SPCO)
(NewsTraders.com)-- Software Publishing Corp Holdings Inc. (SPCO) anticipates reporting a loss from operations of about $2.4 million for 1998, compared to a net loss of $9.8 million for 1997, according to a "not-timely" filing with the SEC today.
The company said it will be late in filing its 1998 10-K due to the termination of its chief financial officer, Kevin Sullivan, in January.
Software Publishing noted that while it has retained a new CFO, such individual will only start his employment in April.
The company's current chief operating officer, Mark Leininger, (who served as CFO from July 1995 through December 1997) has been performing financial and accounting functions for the company, as well as his normal duties, and this requirement of dual functioning has resulted in the delay.
Based in Fairfield, N.J., Software Publishing is an international developer and supplier of visual communications, utility and business productivity computer software products.
Copyright 1999 NewsTraders Inc. All Rights Reserved 14:04 Wednesday, March 31, 1999
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