Revenue for the second quarter of fiscal year 2001 was $16.4 million, a 2% increase over the $16.1 million in revenue in the prior quarter, ended September 30, 2000. The net loss for the second quarter was $7.3 million, an 18% operational improvement compared to a net loss of $8.9 million for the prior quarter. The loss per share in the second quarter of fiscal 2001 was $0.16, compared to a loss of $0.44 in the prior quarter, after accounting for dividends on the Series B convertible preferred stock of $5.2 million in the first quarter of fiscal 2001 and including the increase in shares outstanding as a result of the private placement of common stock made in September 2000.
Despite relatively flat revenues, modest operating performance, and our continued transitions between old and new products, we intend to aggressively pursue our scheduled programs for rebuilding our company, said Gary J. Sbona, Auspex’s Chairman and Chief Executive Officer. We have strengthened our organization with several key new hires and continue to improve organizational performance throughout the company. We will continue our spending to improve our existing products and our investment in new product development. Our latest software release includes new features and functionality as well as improved performance, Mr. Sbona added.
