01 Communique Q4 loss widens to $471,397 from $322,590; revenue up slightly

Thu, 01/21/2010 - 6:01am
The Associated Press

01 Communique Laboratory Inc. (TSX:ONE) said Thursday its fourth-quarter and year-end losses widened despite a slight uptick in the software company's revenue.

For the quarter ended Oct. 31, the company generated net and comprehensive loss of $471,397 versus a loss of $322,590 in the year-ago period. Per share data for both quarters amounted to a penny a share while revenues gained slightly to $70,632 from $70,449.

The Toronto-based company booked a $1.4-million loss for all of last year compared with $1.2 million the previous year. Losses for both years amounts to three cents a share.

Revenues increased to $414,350 from $414,294 in 2008.

01 Communique blamed higher expenses for the increased losses. In the last quarter, the company's costs rose nearly 40 per cent to $541,246 versus $390,826 in the comparable year-earlier period. For all of 2009, expenses grew to $1.8 million from $1.6 million.

The company also provides remote access and support products.

Shares of 01 Communique last traded Jan. 20 at 25.5 cents on the Toronto Stock Exchange.


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