CDC Software posts 4th-quarter net loss
Business software company CDC Software Corp. posted a net loss for its fourth quarter on Thursday, reversing earnings a year earlier due to restructuring and other charges.
For the three months ended Dec. 31, the company posted a net loss of $1.6 million, or 6 cents per share. This is down from earnings of $6.1 million, or 22 cents per share, in the same period a year earlier.
Adjusted earnings were $5.7 million, or 20 cents per share, in the latest quarter. CDC booked nearly $5 million in restructuring and other charges, compared with $1.2 million a year earlier.
Its sales and marketing costs grew 33 percent to $11.4 million and overall operating expenses rose 37 percent.
Revenue rose 5 percent to $56.8 million from $54.3 million.
CDC's president, Bruce Cameron, said the company's focus on sales in emerging regions has been paying off, with strong growth in Latin America, China and India.
U.S.-traded shares of Hong Kong-based CDC climbed 15 cents, or 2.6 percent, to $5.88 in morning trading. The stock has traded in the 52-week range of $5.18 and $11.90.