MISSISSAUGA, Ontario-Certicom Corp.’s fourth quarter and year-end results for fiscal 2002, ended April 30, 2002, exceeded previous guidance-marking the third consecutive quarter the company has done so.
For the quarter, Certicom reported $3.8 million in revenue, pro-forma costs and operating expenses totaling $6.1 million and net losses of $3 million, or ten cents per share. The amounts reflect higher revenues and lower losses than originally forecast.
The company implemented a corporate restructuring plan in April that included relocating the California-based head office to Mississauga, Ontario, appointing a new senior management team and launching a new sales office in Washington, D.C.-moves that President and Chief Executive Officer Ian McKinnon believes well-positions Certicom for a strong fiscal 2003.
According to its guidance, Certicom’s revenues will reach $3.5 million and it will report pro-forma operating expenses of $4 million. Certicom said it expects to achieve pro-forma operating profitability by the end of the second quarter of 2003 (October 31, 2002). And although predicted revenue for the first quarter 2003 is lower than fourth-quarter 2002, the company believes it will achieve year-over-year growth for fiscal 2003.
