By Sonya Rabbitte, 6 March 2001 11:39
NEWS The UK company, which produces software to manage faults on data networks, saw losses rise from £5.3m in 1999 to £26.5m in 2000. The company blamed the widened losses on recruitment and increased R&D spend, which rose four-fold to £5.8m during the year. However, revenue was also up, from £516,000 to £5.17m, with almost half of it earned in the fourth quarter. RiverSoft chairman Phil Tee said in a statement that demand for the software should continue to rise as traffic volume on high-speed networks increases. The company also outlined plans to increase revenue through licensing deals with companies such as HP.
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