Revenue, Losses Spike For Marlborough's Bitstream
Bitstream, the Marlborough-based software company, saw year-over-year revenue gains of 35 percent in the second quarter, but also saw a doubling of losses.
Revenue grew from $5.4 million to $7.3 million year-over-year. Revenue rose 7 percent over the first quarter of this year.
However, net losses mounted for the company, climbing from $685,000 in the second quarter of 2010 to $1.2 million in the second quarter this year. Most of the losses - $695,000 - were associated with the resignation of the company's former CEO, Anna Chagnon, in May. Bitstream has provided few details on why Chagnon left the company.
For the first six months of the year, the company lost $2.3 million on $14.1 million in revenue, compared with a $1 million loss on $10.6 million in revenue during the first half of last year.
WBJ Web Partners
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