Platinum Software Loses $5.7 Million

Platinum Software Corp. recorded a net loss of $5.7 million, or 44 cents a share, for the fiscal year ended June 30. That compares to a net loss of $59.5 million, or $4.80 a share, for the prior fiscal year, which included a $20-million charge to settle a class-action lawsuit and a $6.7-million restructuring charge.

Revenue rose 5% to $56.2 million, from $53.4 million. Included in the fiscal 1995 revenue was $8.5 million in restated deferred revenue and $1 million in revenue from divested operations. That compares with $10.6 million from divested operations in fiscal 1994.

For the fourth quarter, the company lost $981,000, or 8 cents a share, compared with a year-earlier net loss of $33.9 million, or $2.72 a share. Quarterly revenue increased 11% to $14.9 million, from $13.4 million.