In the fourth quarter to December 31, the net loss was $3.9m, down from a loss of $10.3m on revenue 22.8% lower at $55.9m. For the year, the loss was $14.4m, down from a loss of $17.7m on revenue that slumped 14.3% to $223.5m.
CEO Kenneth Kock blamed weakness in its consulting business and faster than expected erosion in its SAN extension and legacy product revenue. He said he hopes to return the Lumberton, New Jersey to profitability during 2003, and pointed to a 35% growth in Fibre Channel director revenue to $57.5m last year.
Source: Computerwire
