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July 21, 1997updated 05 Sep 2016 12:09pm


By CBR Staff Writer

Internetworking applications specialist NetManage Inc has reported a second-quarter net loss of $4.5m on revenue down 53% at $12.7m, compared to net income of $1.6m, or $0.04 per share, a year ago. The loss is equivalent to $0.10 per share, when First Call was expecting a loss of only $0.03. Six-month net loss was $7.3m on revenue down 50% at $29.1m, compared to net income of $$6.7m, or $0.15 per share, a year ago. The company cites poor sales performance in the international marketplace in admitting its disappointment with the figures. NetManage has been busy reinventing itself, last month announcing cuts to its product lines (CI No 3,175) and just two weeks ago scooping up NetSoft Inc for $26m (CI No 3,199). Also in June, a class action suit was brought against the company by shareholders who allege that insiders sold shares before releasing news of the recent poor results.

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