Karensoft reported its earnings tonight.
This was what the management wrote in their notes. ( read more here )
- For the fourth quarter ended 31 December 2005, Karensoft Technology Berhad achieved a turnover of RM0.188 million. Compared to the RM0.172 million achieved in the third quarter ended 30 September 2005, turnover was 9% higher. Despite the marginal increase in the Group’s revenue, its pretax loss widened by 714% to RM8.164 million from the preceding quarter’s loss of RM1.003 million. The huge pre-tax loss incurred for the current quarter was attributable to depressed sales volume, impairment of development cost, provision for doubtful debts and China investment written off.
For the twelve months ended 31 December 2005, Karensoft recorded a turnover of RM1.254 million compared to last year’s corresponding results of RM6.147 million. Consequently, the Group recorded a pretax loss of RM10.612 million compared to last year’s corresponding period pre-tax loss of RM3.929 million. The significant drop in revenue and the doubling of losses were mainly attributable to poor market demand for its enterprise applications and solutions, impairment of development cost, provision of doubtful debts and investment written off.
a turnover of RM0.188 million?
pretax loss widened by 714% to RM8.164 million!!!!
(total year) pretax loss widened by 714% to RM8.164 million !!!!!!!!!!
The Group has launched a new ERP known as KarenSoft ERP4Auto, which is specifically targeted at automotive industry. KarenSoft ERP4Auto product will assist automotive industry players be more efficient and productive in managing their cost with the AFTA pressure. Hence, the Group foresees the new product to contribute positively to future earnings.
The Group will continue to market it existing KarenSoft ERP2 and other products to target mid-sized and top-tier SMIs in the domestic as well as overseas markets. Karensoft will also continue to develop customized niche products for specific industries.
So what happened to its software package that could challenge the great Microsoft's Office Suite??
* past postings can be found here...