Systemsoft Corp says that it expects to report a pre-tax first quarter loss of between $5.0 and $5.9m, on revenues of about $4.0m. The Natick, Massachusetts-based PC card and BIOS manufacturer said that revenues from its PC cards plummeted to $1.1m during the quarter, which ended on April 30, from $4.9m in the same quarter of last year. As a result, Systemsoft says it will cut over 50 jobs, taking its headcount down to around 185 employees. Aside from a lack of demand for its core products, the company blamed the weak Asian market and a re-structuring of its US sales force for the losses.
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