Interleaf Inc, the Waltham, Massachusetts company which threw itself into every aspect of document management software and sank deep into the red as a result, is clawing its way back to profitability. It recorded a modest profit of $440,000 in the second quarter to September 30, a big improvement on the $10.3m loss recorded in the same period last year and the second successive quarterly profit. Restructuring saw revenue for the quarter fall from $16.5m to $13.1m and chief executive Rob Langer said that, for the past six months, they have been controlling expenses, rebuilding the infrastructure and investing in new products – such as the Jamba Web authoring tool it acquired from Asymetrix Learning Systems Inc late last week (CI No 3,275). The company also boosted its cash reserves by a private placement of $6.8m which boosted its balances to $20.3m compared with $18m three months earlier.
