Personal computer software graphics company, Micrografx Inc says it expects to see an improvement in its financial status by the second half of next year. The Richardson, Texas-based company reported losses of $6.2m for the year to June 30, and saw a 10.2% drop in turnover to $15.0m. The net losses include an exceptional charge of $2.3m from a write-off of in-process research and development in the fourth quarter, following its $3.5m acquisition of Oregon, Texas-based mapping, modeling and simulation tools firm, AdvanEdge Technologies Inc in July (CI No 3,194). The company is blaming its fall in turnover on a decline in retail sales following a drop in consumer activity in the US retail outlets. Micrografx says the past fiscal year has been one of transition that has seen it implementing a number of changes. Now those changes are complete, Microgrfx’s president and chief operating officer Doug Richard says it will concentrate on investing in its core business categories; enterprise graphics, personal creativity and Web graphics.
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