Bitstream SpinOff Loses $3.2M In Q1
Marlborough Software Development Holdings, the spinoff created by Bitstream Inc. to hold its web-to-print and mobile web browser business, reported that it lost nearly double what it made in revenue during the first quarter of 2012.
Revenue for the quarter was $1.7 million, down $494,000 from the same quarter a year ago. The decline was driven by a drop in software licenses.
The company lost $3.2 million during the quarter, up from a loss of $1.8 million last year.
Pinhas Romik, MSDH's president and CEO, called the quarter "a transitional period" and said a 22-percent drop in revenue was "due in part to the distraction caused by the separation and merger transactions."
Romik also said print shops, a primary customer for MSDH, delayed investments in print-related hardware and software because they were waiting for an industry trade show in Germany that takes place this month.
Romik also noted developments that will broaden the company's product distribution in the future.
MSDH's Pageflex division opened distribution offices in Brazil and Europe and localized its software in 10 foreign languages, which will be released this summer.
WBJ Web Partners
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