NBS Technologies cuts Q4 loss to $4.2 million from $7.3M

Monday 17 January 2005 01:08 CET | News

Shares of smart-card provider NBS Technologies rose more than 22 per cent after the company cut its 2004 fourth-quarter loss by 42 per cent as both revenues and costs fell.

NBS stock gained 36 cents to close at $1.97, a jump of 22.36 per cent, in Friday trading on the Toronto stock market. Earlier, NBS reported a quarterly loss of $4.2 million, or 12 cents per share, down from $7.3 million, or 18 cents per share, in the quarter ended Sept. 30. The company cut its loss for the full year to $4.4 million, or 14 cents per share, from $17.9 million, 43 cents per share, in 2003. Revenue for the quarter was $13.72 million, down from $16.9 million a year earlier. But annual revenue jumped up 20 per cent to $66 million.

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Categories: Payments & Commerce | Payments General
Countries: World
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Payments & Commerce