Macromedia has announced a net $6.9 million profit for its fourth-quarter 2003.

Its revenues for the three months ended March 31 were $83.6 million, compared to $76.3 million in the year-ago quarter, in which the company delivered a pro forma net $6.1 million loss.

Net revenues for the year were $336.9 million, compared to $326.5 million for the prior fiscal year. Net income for the year was $1.6 million, compared to a net loss of $308.8 million for the previous year.

Macromedia CEO Rob Burgess was upbeat: "We made a lot of progress this year, returning to revenue growth and profitability while investing strongly in new lines of business. Our vision of radically improving the experience people have on the Internet is resonating with everyone.

"The coming year for us is all about execution as we launch more products and services than ever before."

Macromedia expects net revenues of between $80-$85 million in the forthcoming quarter. It predicts that net revenues will increase 10 to 20 per cent year on year, and that its operating profit margin will increase by a similar percentage.

Macromedia’s own figures show the company has reduced research and development spending by $5 million in comparison to the year-ago quarter. The company ends the year with $215,586 in cash, cash equivalents and short-term investments.