Aladdin Systems, developer of StuffIt, suffered a drop of 11 per cent in profits for the third-quarter 2001.
The company's revenue decreased to $1,569,108 for the quarter, and the company reported a net loss of $387,102. This compared with revenues of $1,753,875 and a net loss of $438,906 for the year-ago quarter.
A slowing US economy has been cited for a $184,767 drop in sales. For the first nine months of fiscal 2001, the company reported a revenue decrease of 19 per cent to $5,471,587, and a net loss of $1,268,873, compared with a net loss of $580,168 for the year-ago period.
Jonathan Kahn, Aladdin CEO, said: "The weakness in consumer retail-sales. especially in computer sales, continues to effect Aladdin's business. Aladdin was also impacted by September 11.
"The company continues to work hard on reducing costs and increasing its sales. We maintain a cautious outlook for the remainder of this year."