Tribeworks -- the folks behind iShell multimedia authoring environment -- has achieved profitability for the first time in the company's history.
For the quarter that ended Sept. 30, Tribeworks reported revenue increasing to a record level of US$480,160, compared with $163,428 in the same period a year ago. The company generated net income of $56,849, compared to a net loss of $549,633, in the same period a year ago. Revenue for the nine months that ended Sept. 30 were $974,715, up 72 percent over $567,468 for the same period last year.
"We believe that Tribeworks stands out in today's marketplace," Robert Davidorf, chief financial officer of Tribeworks, said in an announcement. "We are part of a small group of independent software companies to deliver a profitable quarter after three consecutive quarters of revenue growth. We believe that our ability to achieve profitability is a direct result of our unique business model and our commitment to growing our business in a regulated way."
iShell is a QuickTime-native multimedia authoring suite that enables the creation of customized media players that launch from a Web site. The most recent version, iShell 2, added the ability to create customized streaming media players that can be authored and played on Mac and Windows/NT systems. iShell 2 players can be of any arbitrary shape, can contain holes and have the ability to play in the foreground or the background.
Tribeworks will hold the annual iShell Developer Conference Jan. 11-12, 2002 in San Francisco.
This story, "Tribeworks tallies its first profitable quarter" was originally published by PCWorld.