Aladdin Systems has returned fourth-quarter 2002 results that are 24 per cent up on the previous quarter.

The company returned full-year net income of $618,475, compared to a net loss of $1.1 million in 2001. Net revenues for the year were $7.5 million.

Fourth-quarter revenues were $2.4 million - up 24 per cent from the $1.9 million reported in the third quarter 2002.

Aladdin CEO Jonathan Kahn said: "By strong fiscal control over our operating companies, and with consumer acceptance of Aladdin's new products, Aladdin was able to return to profitability in a year that was challenging to the software industry."

"We were also able to fund the launch of Aladdin Enterprise Solutions (AES) in October 2002 to add a new dimension to our company."

The latter division introduced its enterprise software line - a strategic step to widen the company's product offerings. "We are excited about the potential AES has to offer the enterprise market and in 2003 we expect both operating companies to leverage each others technology and channels," said Kahn.