C*ATS Software Inc, the Palo Alto, California-based risk management and derivatives trading specialist, has reported a second-quarter net loss of $469,000 down from profits last time of $164,000 on revenue down 12.9% at $4.3m. Midterm net loss was $712,000 up from losses last time of $6.1m on revenue which declined by 17.3% at $8.5m.