Sales were down last quarter at PKI vendor Entrust, but so was its loss. Q4 of 2001 saw the first sequential gain in income for the year with government sales up.
Sales were down last quarter at PKI vendor Entrust Inc., but so was its loss.
The Plano, Texas, company on Tuesday reported a net loss of 9 cents per share on sharply lower revenues of $28.4 million for the fourth quarter of 2001.
In the same period a year ago, Entrust posted a net loss of 44 cents per share on revenue of $47.8 million.
For the full year 2001 the company had revenues of $117.9 million compared with $148.3 million in 2000.
Despite the drop in revenues from the year-ago period, the fourth quarter was Entrusts first period of sequential revenue growth during 2001. The company is also in a solid cash position, with a stockpile of $162.5 million.
Much of the short-term revenue growth came from increased sales in the government sector, which represented 56 percent of the companys software revenue. This is a 24 percent increase from the third quarter.
"We are entering 2002 in a strong position," said Bill Conner, CEO of Entrust. "The market traction results from our vertical programs, strategic partnerships and industry leading solutions have positioned Entrust to deliver on the new requirement for enhanced Internet security."