Retalix, a provider of software solutions for retailers and distributors, has posted a net income of $2m, or $0.10 per diluted share, for the fourth quarter ended December 31, 2008, compared to a net loss of $1.7m, or $0.09 per diluted share, for the same period in 2007.
Total revenues in the fourth quarter of 2008 were $52.17m, compared to $55.18m in the fourth quarter of 2007.
For the full year ended December 31, 2008, the company reported a net income of $4.05m, or $0.20 per diluted share, compared with a net loss of $498,000, or $0.02 per diluted share, in 2007. Total revenues for the year 2008 were $221.63m, compared to $221.41m in 2007.
Barry Shaked, president and CEO of Retalix, said: The results for the full year 2008 demonstrate the progress of our turnaround efforts over the past year. Despite the uncertainty that overtook the global economy in the fourth quarter of 2008, we significantly improved our performance and our cash flow from operations. Our efforts to improve operating efficiencies strengthened our performance while also ensuring that we were able to meet customers’ needs and address the changes in the global economy.
