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September 3, 1997updated 03 Sep 2016 9:20pm

LOSSES UP BUT SOFTQUAD FORECASTS RAPID RETURN TO PROFIT

By CBR Staff Writer

SoftQuad International Inc says now that it has internal restructuring in place, it believes it will soon be able to return to profitability. The company that earlier in the year spent $2.1m acquiring Alpha Corp Inc (CI No 3,094) reports losses of $8.3m from losses of $1.3m last time, while revenue grew 53.3% to $5.4m. Under its restructuring changes, the company has appointed Selwyn Rabins as chief executive officer and Richard Rabins as president, both co-founders of Alpha. Richard Rabins said SoftQuad has implemented a strategy of aggressively licensing new products which he believes will contribute to a return to profitability. In June, SoftQuad released version 4.0 of its flagship Hot Metal Pro web site development tool (CI No 3,186) which, Rabins said, received favorable press coverage and early sales information looks promising.

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