March Networks Anticipates $7M Loss on Fiscal Year
OTTAWA
March Networks, a provider of intelligent IP video and business analysis applications, says the company will suffer a pre-tax loss of $7 million for fiscal 2008. The tax loss is due to lower fourth quarter revenue and higher costs.
The Ottawa-based company pulled in $21 million by the end of its forth quarter, bringing revenue for the year to $94 million – the bottom of its anticipated revenue range. March Network’s loss from continuing operations for the fourth quarter is anticipated to be approximately $4 million. Its pre-tax loss for 2008 is expected to exceed the company’s guidance range of $3 million to $5 million.
Earlier in the year, the company had to absorb a one-time $2.4 million charge for having to retrofit systems on transportation fleets. The company also suffered from a $2.3 million lawsuit settlement. However, the company expects to see positive results in 2009 with revenues landing in the range of $100 million to $115 million.
“We expect 2009 to be an exciting year for the company with a return to profitability, an industry leading product line and strong international growth,” says Peter Strom, president and CEO, March Networks.
If you enjoyed this article and want to receive more valuable industry content like this, click here to sign up for our FREE digital newsletters!
Related Content
Security Is Our Business, Too
For professionals who recommend, buy and install all types of electronic security equipment, a free subscription to Commercial Integrator + Security Sales & Integration is like having a consultant on call. You’ll find an ideal balance of technology and business coverage, with installation tips and techniques for products and updates on how to add to your bottom line.
A FREE subscription to the top resource for security and integration industry will prove to be invaluable.
