PenUltimate Inc.: The Irvine software company said...

PenUltimate Inc.: The Irvine software company said it lost $2.83 million, or 90 cents a share, for the fiscal year ended June 30, compared to losses of $3.8 million, or $2.83 per share, for the previous year.

PenUltimate, which specializes in software for mobile computer users, reported revenues of $642,000 for the recently ended fiscal year, compared with $300,000 in 1994. The company has posted losses since going public in December, 1993.

PenUltimate said in a news release that it would respond to disappointing sales by cutting operating expenses, licensing out its intellectual property, and gearing future software toward individual consumers instead of focusing solely on the corporate marketplace.