RSA Reports Loss; Revenue Dips
RSA reported a net loss of $49.8 million on revenue of $61 million for the fourth quarter of 2002.RSA Security Inc. on Thursday reported a net loss of $49.8 million, or $0.88 per share, on revenue of $61 million for the fourth quarter of 2002. Those numbers represent a three percent decline in revenue from the same period in 2001. The company also reported a loss of $96.8 million for all of 2002, compared to a loss of $2.5 million in 2001. Revenue for the full year was down $50 million to $232.1 million. Both the fourth-quarter and year-end numbers suffered due to a number of large charges RSA took related to its restructuring, including severance, closing of some facilities and inventory write-downs. The charges came to nearly $64 million in the fourth quarter.
The authentication division continued to be RSAs strongest performer, delivering $50 million in revenue in the fourth quarter.