The news is good and bad for people with a financial interest in StuffIt maker Aladdin Systems’ parent company, Aladdin Systems Holdings. The company announced its fourth quarter and year-end results today.
Aladdin ended the quarter on a high note, with net income of US$217,425 (or 2 cents per share) as compared with $63,261 for the same period last year. That wasn’t enough to pull the company out of the red, though — they lost $362,743 on the year.
Aladdin CEO Jonathan Kahn said that the company was “gratified by the gains made” in 2000, but found it disappointing that the profits weren’t enough to pull Aladdin back into the black for the year.
Highlights of the year included the shipment of more than a dozen new products, five product upgrades, the company’s entrance into the Palm market, a public test of Expander for Linux, and more.
Kahn is optimistic that Aladdin’s strategy to broaden its product line beyond just the Mac will yield “tangible results” in the year to come, but admits that current economic conditions make it hard to forecast how well the company will do in 2001.
“We continue to evaluate additional steps we can take to better position Aladdin for growth and profitability,” said Kahn.