Aladdin Systems Holdings, Inc., parent company of
Aladdin Systems, Inc.
reported today its financial results for the fourth quarter and year-end 2001 results. The results included a fourth quarter 2001 profit — unexpected by the company’s officers. Aladdin publishes the ubiquitous Mac compression utility software StuffIt and numerous other utilities.
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The company reported net revenues for the quarter of US$2.2 million, an increase of 37 percent quarter to quarter. Net income for the quarter was $120,551.
Modest though the earnings may be, they fared better than the previous quarter, when the company reported a net loss of $387,102 — in fact, the company posted a net loss of $1.1 million for the year, against revenues of $7.6 million total. That’s compared to $10.2 million in revenues for 2000, and a net loss of $0.4 million for 2000.
Noting that the company had a profitable fourth quarter, Aladdin president and CEO Jonathan Kahn said that his company had forecasted a breakeven fourth quarter, thus exceeding their own expectations.
“Overall, although we saw a decline in revenue from 2000 to 2001, we feel positive about the progress that we made during the latter part of 2001, in light of the industry recession and the tragedy of September 11th,” said Kahn. Kahn indicated the company will continue to commit resources in the access and compression market.