Avistar Communications Q3 net loss widens

Tue. October 27, 2009; Posted: 09:46 AM

Oct 27, 2009 (Datamonitor via COMTEX) -- AVSR | Quote | Chart | News | PowerRating -- Avistar Communications, a developer of unified visual communications solutions, has reported a net loss of $1.9 million or $0.05 per basic and diluted share in the third quarter of 2009, compared to a net loss of $774,000 or $0.02 per basic and diluted share in the third quarter of 2008.

The company's total revenue for the third quarter of 2009 was $1.4 million, a decrease of 47%, compared to $2.7 million in the same quarter of 2008.

For the nine months ended September 30, 2009, the company has posted a net loss of $2.5 million or $0.07 per basic and diluted share, compared to a net loss of $6.2 million or $0.18 per basic and diluted share in the same period of 2008.

Total revenue for the first nine months of 2009 was $6.9 million, an increase of 23%, compared to $5.6 million in the first nine months of 2008.

Bob Kirk, CEO of Avistar, said: "When comparing our results thus far in 2009 against 2008, our corporate performance continues to improve on many fronts, as we overcome remaining challenges. Avistar's strategy and focus, implemented earlier this year, are beginning to show results, although we expect to see the full financial impact in future quarters."

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