$4.2 million loss at Broderbund
Broderbund posts a fourth-quarter net loss of $4.2 million, largely because of a one-time acquisition charge.
The educational software company reported a net loss of 20 cents a share for the quarter ending August 31, compared with earnings of $7.2 million, or 33 cents a share, a year ago.
Broderbund, however, noted that it would have posted a $4.2 million profit for the quarter, if it had not taken a $8.4 million one-time charge related to its acquisition of T/Maker, publisher of graphics software for desktop publishing.
Nonetheless, even excluding the one-time charge, Broderbund would still fall below last year's revenue levels. Revenues for the quarter dropped 13.4 percent to $32.2 million, compared with the same period a year earlier.
"Our growth rate was stalled this year as the consumer software market became more competitive and grew at a slower rate," said Doug Carlston, chairman.
Broderbund's year-end performance was marked with a 9 percent growth in revenues to $186.2 million, compared with the previous year. But earnings were flat at $36.8 million, compared with $36.2 million the year earlier.