By Aled Herbert, 13 November 2001 17:15
NEWS UK web software specialist InterX posted a £14m loss for the first quarter 2001, but reported a rise in gross profit, which takes into account a rise in intangible assets. The company reported an operating loss of £3.7m for the three months ending 30 September 2001. However, amortisation of goodwill for the quarter was £10.2m - the same as for Q1 2000. InterX posted first quarter revenues of £500,000 compared to £2m in Q1 2000, while profits increased to £120,00, up from £70,000 in the same period 12 months ago. InterX slashed 25 per cent of its workforce in February in a cost-cutting exercise. The company also announced plans to abandon content production after it sold its interest in cw360.com back to Reed. Shares in the company fell slightly to 126p on the news today. Loss per share for Q1 2001 was 45.91p compared to 40.75p in Q1 2000.
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