Clarus reports growing losses

NEWS B2B vendor Clarus has reported growing losses and falling revenue for both fourth quarter and 2001 full fiscal year results. Fourth quarter revenue of $3.4m was almost flat on revenue for the same period last year. Full year revenue fell to $17m, down from $34m in the previous year. Pro-forma net loss for the quarter was $7.2m, or 47 cents per share, beating analyst forecasts of 52 cents per share. Net loss on a GAAP (generally accepted accounting principles) basis - which includes additional restructuring, depreciation and amortisation charges - was $59.4m or $3.82 per share, compared with $28.6m in the same quarter last year. GAAP net loss for the full year was $119.8m up from $70.6m in 2001.