Site Technologies Cuts First Quarter Loss
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Scotts Valley, CA-based Site Technologies Inc. reported a first quarter net loss of $1.2 million or $0.15 per share compared to a net loss of $2.5 million or $1.01 per share in the same period in 1997.
Revenues for the quarter ended March 31, 1998 decreased approximately 83% to $170,000 compared to $1.02 million in the same period in 1997.
The overall revenue decrease was primarily attributable to the June 1997 disposition of the DeltaGraph product line (a non-Internet product), which accounted for $607,000 in revenue for the first quarter of 1997 for which no corresponding revenue was earned in the first quarter in 1998.
Internet product revenues for the first quarter of 1998 increased approximately 83% to $168,000 compared to $92,000 for the fourth quarter of 1997. This increase was primarily a result of the company's execution of its business plan, which was to increase the focus of marketing and sales resources on Internet technologies and products, executives said.
Site Technologies (formerly DeltaPoint, Inc.) provides Web site development, management, and maintenance tools for Web-based business environments.