Pumatech announces falling revenues, slashes work force

SAN JOSE, Calif.—Software and services provider Pumatech Inc. today released its fourth-quarter results, showing falling revenues and a 20-percent cut in its work force.
Pumatech’s worldwide work force dropped to 215 full-time employees, and the company said it consolidated its business facilities in California and suspended work on its Intellisync.com online service offering. Pumatech said the moves would save the company more than $1 million.
For the quarter, ended July 31, Pumatech reported revenues of $7.1 million, compared with $9 million in the same quarter last year.
“The company has faced difficult challenges the past several quarters primarily as a result of the economic slowdown and the reduction in IT capital spending,” said Brad Rowe, the company’s president and chief executive officer. “However, we have taken proactive steps to dramatically reduce spending and stay the course through this turbulent market.”