Aladdin Systems, the folks behind the StuffIt line of products and others, announced a net loss of $387,102, or $0.04 per share (basic and diluted) for the third financial quarter period that ended Sept. 30.
Revenue dipped 11 percent to $1,569,108. In the year-ago quarter, Aladdin Systems saw revenues of $1,753,875 and a net loss of $438,906 or again, $0.04 per share (basic and diluted), in the same period last year. Third quarter sales decreased $184,767. This was primarily due to the slowdown in the economy, which negatively impacted computer industry sales and resulted in decreased sales, according to company CEO, Jonathan Kahn.
For the nine months, Aladdin Systems reported that revenue decreased 19 percent to $5,471,587 and a net loss of $1,268,873 or $0.13 per share, as compared with revenues of $6,782,665 and a net loss of $580,168 or $0.06 per share in the same period last year.
“The weakness in consumer retail sales, especially in computer sales, continues to effect Aladdin’s business and Aladdin was impacted by the Sept. 11, 2001 tragedy,” Kahn said in a public statement. “The company continues to work hard on reducing costs and increasing its sales. With the release of StuffIt Express Enterprise Edition and StuffIt Deluxe 6.5 we expect to see the benefits of our continuing R&D effort. The company maintains a very cautious outlook for the remainder of this year.”