Forte Software Inc, which yesterday reported year-end revenues up 13% to $71.3m and a net loss of $14.2m, says that it’s pleased with its sequential revenue growth, and its efforts to contain expenses. Despite the losses, the company has at least managed to arrest its revenue slide, though mostly through services and maintenance rather than new sales. Fourth quarter revenues were $21.8m, up 26% over third quarter revenues of $17.3m. Marty Sprinzen, president and chief executive officer claimed Forte had made considerable progress in implementing the action plan we announced last quarter. While we still have work to do, we are pleased to see our efforts pay off. License fees for the quarter were down 9% over the previous year, but maintenance and service revenues increased by 56%. License fees now represent 57% of business, and maintenance and services 43%. International revenues were strong but domestic revenues weak. Last quarter, Forte put its cost-cutting action plan into place after Sprinzen reported a temporary slowdown in the large-scale enterprise development tool systems market. The demise of Visix Software Inc last month, citing the popularity of cheaper Java-based tools that made its full-scale products too expensive, can’t have helped market confidence.
