Despite a profitable fourth quarter, e-commerce software maker Logility Inc. posted big yearly losses in the face of a slowing U.S. economy.
Logility’s revenues for its 2000 fourth quarter were $8.2 million, a 19% increase from the comparable quarter of last year. Software license fees for the fourth quarter were $2.6 million, a 99% increase from the fourth quarter of last year.
For its 2000 fourth quarter, the company reported net income of approximately $468,000 compared to net loss of approximately $646,000 or loss per share of five cents for the same period in the prior year.
However, total revenues for the twelve months ended April 30 decreased 13% to $28.2 million, with software licensing fees dropping 36% to $8.6 million. For the same time frame, the company reported a net loss of approximately $5.2 million excluding a restructuring charge of $476,000, compared to net income of $2.4 million in the prior year. “Business-to-business electronic commerce and supply chain optimization solutions are even more essential during times of slow economic growth, when companies experience less predictable product demand and are tightly managing their businesses towards bottom-line results,” said J. Michael Edenfield, Logility’s president and CEO. “As we move forward, we will continue to focus on helping customers to succeed in this challenging economic environment through collaboration with trading partners, better planning, improved customer service, reduced inventory costs, and increased revenue as a result of greater in-stock availability.”