RSA losses mount as SEC investigators move in

NEWS Security vendor RSA has posted a loss for both its fourth quarter and its full 2001 fiscal year. CEO Arthur Coviello also said the company was being investigated by the Securities and Exchange Commission (SEC) over a change in the way it calculated distributor revenue. For the fourth quarter RSA - including results from its venture capital division - had a net loss of $10.1m. This compares with a profit of $103.9m in the fourth quarter of 2000. Revenue for the quarter fell to $63m, down from $78.1m in the same period last year, and missing the $64m expected by analysts. For the full year, RSA posted a net loss of $2.5m, down from a profit of $205.8m in 2000. Revenue for the full year was $282.7m, up from $280.2m the year before.