WOODBURY, N.Y.-Comverse Technology Inc. released its first-quarter fiscal 2003 results, which reflected lowered sales but an improved net loss.
The company said sales were $180 million compared with sales of $211 million a year ago. The company’s net loss was $5.8 million, improved from $23.5 million a year ago. Convergys said it ended the quarter with cash and cash equivalents of $1.75 billion, working capital of $1.73 billion, total assets of $2.3 billion and stockholders’ equity of $1.5 billion.
