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Technology / AI and automation

COMPANY RESULT: FTP SOFTWARE INC

FTP Software Inc, Andover, Massachusetts developer of application connectivity technology, has reported a fourth-quarter net loss of $1.5m on revenue down 45% at $14.4m, compared to a loss of $6.8m a year ago. For the year, net loss was $56.6m on revenue down 33% at $67.7m, against a loss of $77.6m last year. Results for the quarter include a restructuring charge of $1.3m and a gain of $3.2m from the sale of discontinued operations. For the year, restructuring charges amounted to $18.3m, while one-time gains ran at $1.2m. Full-year 1996 results include an acquisition charge of $37.9m and one-time loss of $4.8m from discontinued operations.

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CBR Staff Writer

CBR Online legacy content.