VANCOUVER – Absolute Software Corp. (TSX:ABT) eked out a small profit in its fiscal fourth quarter and ended the 2011 financial year with a reduced net loss of $1.1 million – an improvement on the year-earlier results.
The Vancouver-based company, which sells embedded security and tracking technology for computers and mobile devices, said it earned $500,000 or one cent per share in its fourth quarter.
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For the year as a whole, it lost three cents per share.
But that was an improvement on fiscal 2010, when Absolute had an annual loss of $8.2 million or 18 cents per share, including a fourth-quarter loss of $3.8 million or eight cents per share.
The value of sales contracts and revenue recognized was up about 14 per cent versus their 2010 comparables.
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Absolute reported $22.1 million of sales contracts in the fourth quarter and $18.9 million of revenue, up from $19.3 million of contracts and $16.6 million of revenue in the year-earlier period.
Its sales contracts for the full 2011 financial year rose to $79.1 million, from $69.7 million, while annual revenue increased to $72.2 million in 2011 from $64.1 million last year.
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