PANJA POSTS AN INCREASE IN REVENUE OF NEARLY 13% IN FISCAL 2000, BUT RESTRUCTURING COSTS NIX PROFITS
Panja Inc., a company specializing in linking home and business appliances to Internet content and services, announces revenues for the fiscal fourth quarter of the year ended March 31 increased 17 percent to $19.5 million, compared to $16.6 million in the fiscal 1999 fourth quarter. For the year ended March 31, revenues grew 12.9 percent to $78.2 million, compared to $69.3 million for the previous year. Panja also reports a net loss of $4.1 million, or 47 cents per diluted share, including $3.3 million in restructuring charges associated with the relocation of its Salt Lake City facility to Dallas and the phase-out of its Synergy Division.
“Panja has experienced consistent success in demonstrating the value of its technology in the workplace,” says Joe Hardt, president and CEO. He adds that the firm is positioned to “take advantage of the rising consumer demand for faster, less complicated and more comprehensive access to content and communications.” According to the company, Panja is creating a whole new market for home and enterprise automation and networking.
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