TRAVERSE CITY �?? Versus Technology reported a net loss of $808,000 for the fiscal year ended Oct. 31, almost four times the loss posted the year before.
The increase in the reported net loss for the year was primarily attributable
to a 26 percent increase in research and development and sales and marketing
expenses. Net income for the fiscal quarter ended Oct. 31, was
$15,000 compared to net income of $335,000 for the same period in 2007.
Revenues for the fiscal quarter ended Oct.
31, were $1,748,000 compared to revenues of $2,012,000 for the same
period in 2007. Versus’ quarterly revenues can vary significantly depending
on the timing and delivery of major customer projects. Accordingly,
revenues reported in any one quarter are not necessarily indicative of what
full year results will be.
Gross profits as a percentage of revenues increased to 71 percent for the year
compared to 68 percent for 2007. For the quarter, gross profits were 70 percent compared
to 71 percent for the same period in 2007.
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