Viasoft Inc, the Phoenix, Arizona-based software maintenance and services company that is set to be acquired by Compuware Corp, has reported a fourth-quarter net loss of $3.4m on revenue down 28.2% at $23.5m, compared to net income of $3.3m, or $0.16 per share, in the year-ago quarter. Excluding a $7.5m restructuring charge, pro forma earnings for the quarter amounted to $0.06 per share, a penny better than the First Call consensus estimate. Year-ago results include acquisition-related charges of $1.3m
The company says the top line plunge was mainly attributable to a decrease in license revenue, which dropped to $10.8m from $20.2m in the year-ago period, as a result of reduced spending on Year 2000 products. For the full year, net loss was $8.5m on revenue down 8.3% at $104.3m, against net income last year of $7.9m, or $0.40 per share. Full-year results include restructuring charges of $12.3m and acquisition-related charges of $5.0m, while year- ago results include acquisition-related charges of $8.6m.
