Software maker Roxio on Wednesday reported a smaller-than-expected loss for the first quarter of its fiscal 2003 and lowered estimates for the rest of the year. The company reported a net loss of $1.2 million, or 6 cents a share, for the quarter, compared with a profit of $2.4 million, or 14 cents a share, in the same period a year ago. Revenue totaled $32.3 million, compared with $37 million a year ago.
The company announced it now expects to record sales of $130 million to $140 million for the year and earnings of 6 cents to 16 cents a share, due to continued softness in the PC market. Many of Roxio's leading products, including its Easy CD Creator CD-burning application, are bundled with new PCs.