March 19, 2008
ThinkEngine Reports Slumping Sales, Earnings
By Matthew L. Brown
Marlborough-based ThinkEngine Networks Inc. reported a net loss of $7.4 million for 2007, a more severe dip into the red than the $5.6 million loss the company reported for 2006.
The Internet communications network company also reported a fourth quarter loss that had grown from $916,000 in 2006 to $3 million in 2007.
The company's revenue also took a hit in the most recent fiscal year, slipping from $9.6 million in 2006 to $7.3 million. Fourth quarter revenue fell from $2.7 million in 2006 to $1.8 million in 2007.
The company said the widening losses resulted from write-downs associated with a 2005 acquisition and lower than expected orders for key products.
The Internet communications network company also reported a fourth quarter loss that had grown from $916,000 in 2006 to $3 million in 2007.
The company's revenue also took a hit in the most recent fiscal year, slipping from $9.6 million in 2006 to $7.3 million. Fourth quarter revenue fell from $2.7 million in 2006 to $1.8 million in 2007.
The company said the widening losses resulted from write-downs associated with a 2005 acquisition and lower than expected orders for key products.
WBJ Web Partners
Most Recent
Most Recent
0 Comments