Macromedia records loss, narrows gap

 
 
By Darryl K. Taft  |  Posted 2002-07-17
 
 
 

Macromedia Inc. Wednesday announced its first fiscal quarter 2003 financial results and recorded a loss of $4.3 million.

The San Francisco company posted revenues of $84.2 million for the quarter ended June 30, 2002, down from $88.7 million for the same quarter a year ago.

The $4.3 million loss compares with a loss of $111.8 million for the same quarter last year, company officials said.

While company officials lauded the companys progress in the first quarter, they acknowledged that the outlook may be somewhat slower growth as the market adopts Macromedias new MX products.

"Were pleased with our progress this quarter," said Rob Burgess, Macromedias chairman and CEO, in a statement. "We successfully launched our most ambitious product agenda ever with the MX family, and we delivered against our financial targets in this tough economy. Now, we are focused on helping companies around the world realize the business benefits of MX—providing a better Internet experience at a lower cost."

Macromedia officials said the upgrade cycle for the companys MX products is likely to be longer and slower to build than past ones. The company expects revenue for its second quarter to be in line with its first quarter, Macromedia officials said.

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