SAN JOSE, Calif.-Wireless enterprise company Semotus Solutions reported declining revenues and a shrinking net loss, moves the company said are due to its streamlined business and focus on reaching positive cash flow.
Semotus said its net loss was $600,000 for the quarter, down from the $2 million in the same quarter last year. The company’s revenues declined to around $870,000, down from $930,000 in the same quarter last year.
“Management’s immediate focus is to achieve profitability and positive cash flow before embarking on a revenue growth strategy,” the company said in a statement. “Until then, management will work to achieve a positive cash flow even if it means lower revenue. In today’s depressed technology sector, a conservative cash strategy is essential to success.”
