By Sonya Rabbitte, 27 November 2001 16:40
NEWS Networking software vendor Orchestream warned today it will continue cost cutting, after posting a widened loss for the first nine months of the year. In the nine months to 30 September, Orchestream reported a pre-tax loss of £22.4m compared with a loss of £8.6m in the same quarter last year. Revenue rose to £10m, up from £1.6m last year, and monthly cash burn fell from £3m to £2.3m. But company cash reserves also fell, from £35m at the end of the first half to £27.5m by the end of September. However, the company remains confident that it will weather the current storm.
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