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Allegro growth hits earnings

Allegro New Media faces a substantial third-quarter loss with rising expenses rose and acquisition charges.

Allegro New Media (ANMI) today reported a substantial third-quarter loss as expenses rose and the company took an acquisition charge.

Allegro, an interactive software publisher, posted a loss of $6.6 million, or $1.80 a share, for the quarter ending September 30, compared with a net loss of $295,539 or 25 cents a share a year earlier.

The company attributed the loss to a $3.9 million acquisition charge, higher expenses from advertising to labor, and higher research and development costs.

Revenues rose to $1.7 million for the quarter, up from $298,342 a year ago. A portion of the sales were driven from Serif, a company Allegro acquired last July.

Despite posting a sizable loss, the company is in acquisition mode.

In October, Allegro announced plans to buy Software Publishing Corporation, a move designed to further its market share in the visual communication software market for businesses.