REDWOOD CITY, Calif.-Openwave Systems Inc. reported substantially improved net loss figures during its fourth quarter, but revenues declined.
For the quarter, Openwave reported revenues of $91.1 million, down 9 percent from revenues of $100.3 million during the same period a year ago and down nearly 20 percent from revenues of $113 million during the previous quarter. Revenues were slightly ahead of analyst predictions of $90.93 million.
For the full year, revenues totaled $412 million, an increase of 7 percent from $383.6 million reported for fiscal 2005.
Net loss for the quarter totaled $4.7 million, a huge improvement from the net loss of $62.3 million the company reported during the same period last year-but a reversal of its net income of $9.6 million reported during the previous quarter. Net income for the year stood at $5.7 million, reversing a net loss of $62.1 million reported last year.
