Network Associates makes another loss

NEWS Network Associates has reported another dismal quarter, making it four losses in a row for the giant that owns brands such as McAfee and PGP Security. The group made a net loss of $11.2m, and immediately announced a restructuring which will include the sale of parts of its encryption and firewall businesses. For the quarter ending 30 September, the firm's revenues reached $209m. George Samenuk, chairman, president and CEO of Network Associates, put a brave face on the news, claiming he remains committed to returning the firm to profitability.