Versus Technology, Inc in Traverse City announced its third-quarter financial results for the quarter ending July 31, and the news is mixed, depending how you look at it, like financials often are.
First off, Versus had revenues of $1.52 million for the quarter, which was just over a 15 percent decrease from last year’s third quarter. The longer view, of the last nine months’ revenue, was down even further, at $3.89 million in the past nine months, as compared to $6.1 million in the first nine months of 2010, for a 36 percent decrease.
But, the gross profits as a percentage of revenue were up slightly, 72 percent this year versus 70 percent last year. Operating expenses were about on par with 2010, with the year-to-date operating expenses totaling $3.77 million, about 5 percent less than the $3.97 million the company spent on it in 2010.
It all added up to a net loss of $15,000 for the third quarter, a contrast to the net income of $38,000 Versus marked down in the third quarter of 2010. More detailed information is available online from the company.
Writer: Sam Eggleston
Source: Joseph Winowiecki, Versus Technology, Inc.
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