Legato Narrows Its Losses
The storage software firm announced flat revenue but a smaller loss for the first quarter of 2003.Storage software firm Legato Systems Inc. announced flat revenue but with a much smaller loss for the first quarter of 2003, compared to the last quarter of 2002, officials said Tuesday. Legato, of Mountain View, Calif., earned $74 million in the quarter, down from $76.6 million in the prior quarter, but up from $55.6 million a year ago. Overall loss was $2.6 million, versus $10 million for the prior quarter, and $46.7 million a year ago.
"With the ongoing push for corporations to come into compliance with various regulations, our content and messaging solutions are gaining momentum," said David Wright, chairman and CEO, in a prepared statement. "In addition we were pleased to see product announcements well received by partners and alliances," he said.
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