Minorplanet losses lessen

Minorplanet Systems USA Inc. said its second-quarter revenues were lower than what it reported the previous year, although it's net loss was also less than it was a year earlier.

Minorplanet Systems USA Inc. said its second-quarter revenues were lower than what it reported the previous year, although it's net loss was also less than it was a year earlier.

Minorplanet's total revenues were $12 million for quarter, compared with total revenues of $16.1 million for the second quarter of fiscal 2002. The company reported a net loss of $4.4 million for the quarter, compared with a net loss of $8.3 million for the 2002-second quarter, which included a non-recurring inventory write-down of $4.7 million.

For the first six months of fiscal 2003, total revenues were $25.7 million, compared with total revenues of $34.6 million for the 2002 six months. The company reported a net loss of $8.9 million for the fiscal 2003 six months, compared with a net loss of $11.4 million for the comparable period a year ago, including the write-down.

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