Aladdin Systems has announced a fall in revenues for both its second quarter and six-month results.
Revenues for the second quarter ending June 30 decreased 37 per cent to $1,659,248. This compares to revenues of $2,699,530 for the same quarter last year.
For the six-month period ending June 30, the company reported a revenue decrease of 22 per cent to $3,902,479 and a net loss of $881,771. In contrast, revenues for the same period last year were $5,028,790.
Aladdin implemented a cost-cutting plan in the first quarter 2001. This included a 24 per cent staff reduction, and a 22 per cent decrease in marketing, sales and support expenses.