IWL posts loss despite revenue upswing
IWLhas experienced a 76 per cent, or $6.5 million, increase in operating revenues in the year to the end of June, but ended up with an overall loss of $1.2 million.
The group associates the increased revenue, which took its revenue for the year to $15.42 million, to the purchase of Accompli Technologies in October 2001, which more than compensated for the loss of revenues experienced afterInvestors Mutualand online advertising business PostClick were divested.
IWL also attributes the strong showing to continued sales of its LLink and Visiplan software products which it says increased in license numbers to 5400, or 125 per cent more than the number at the end of the previous year.
However, the group experienced a downturn in its online business due to the collapse of the online advertising market since 2001. It lost $0.28 million compared to its result of the end of the 2001 financial year.
But its expenses have outweighed the revenue, and the company made an overall after tax loss of $1.2 million.
AUTHOR
Lachlan Gilbert
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