TORONTO-Mobile resource management company AirIQ said its second quarter 2002 results reflect its gross profit growth and revenue growth are way up from the second quarter of 2001.
The company recorded revenues of $1.4 million compared with $613,877 for the year-ago quarter and $1.2 million for the first quarter 2002. Profits were $480,871 for the second quarter, up from the $68,574 recorded in the year-ago quarter.
However, AirIQ also incurred a net loss of $3.7 million, or 66 cents per share for the quarter-up from the $3 million, or 11.3 cents per share net loss recorded for the year-ago quarter.
The company cut a total of 51 jobs this year from its Vancouver and Pickering work forces, which it expects to decrease annual operating expenses by about $4.85 million.
