PALO ALTO, Calif.- Corsair Communications reported a 106-percent gain in annual earnings from a net loss of $12.8 million, or $1.44 per diluted share in 1996, to a net loss of $1.1 million, or 9 cents per diluted share in 1997. The company also improved on its 1996 fourth-quarter net loss of $3.7 million, or 37 cents per diluted share, reporting net income of $2.3 million, or 16 cents per diluted share for the 1997 fourth quarter.
Corsair President and Chief Executive Officer Mary Ann Byrnes, attributed the results to revenues from follow-on orders for PhonePrint, its fraud prevention system, and new domestic and international sales. Revenues for the most recent fourth quarter were $14.5 million, up 65 percent from $8.8 million for the same period in 1996. Revenues for the year were $47.8 million, an increase of 144 percent compared with $19.6 million for 1996.
“We saw continued growth in international markets in the fourth quarter, with new and follow-on orders from customers in Mexico, the Philippines and Malaysia,” said Byrnes. “This part of our business has gained quite a bit of momentum over the past year.”
