e-SIM Q4 Revenues Slip, Year Climbs 64%
Staff -- TWICE, 4/16/2001
NEW YORK — Advanced simulation technology firm e-SIM saw fiscal fourth quarter revenues drop 17 percent to $1.9 million, compared with $2.3 million in the same quarter of 2000. The company earlier had attributed the decline to sales it had expected to close in the fourth quarter that were put on hold due to weaker market conditions in its clients' markets.
The e-SIM net loss for the fiscal fourth quarter ended Jan. 31 was extended to $3.8 million, compared with $1.7 million in the year-ago period. Excluding a one-time write-off expense in the quarter, net loss would have been $3 million.
Revenues for the year, however, climbed 64 percent to a record $9.9 million, compared with $6 million for the previous 12 months. Net loss for the year reached $7.6 million, compared with $5.5 million in the year-ago 12 months. In the year ended Jan. 31, 2001, net loss includes a one-time write-off expense of $730,559.
The 11-year-old e-SIM provides advanced simulation technology for product development, customer support and Internet applications.
