Home Director Cutting Its Losses
Home Director Inc. says it has cut its losses after releasing its third quarter financial results on Nov. 19. The Company reported a net loss for the quarter that ended Sept. 30 of $438,000, compared to $2,894,000 in the 2002 third quarter.
In its report, the company cited its continuing cost-reduction programs as a reason behind the 85-percent drop in its revenue shortfall. “This quarter we entered what we hope will be the final stages of our turnaround by continuing to cut expenses while gearing up for expected revenue growth next year as we begin to feel the impact of the Sears Connected Home program and the additional builder contracts we have added in the past several months,” said Don Witmer, Home Director’s CEO.
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