ObjectShare Creeps Back Into Black

ObjectShare Inc., Irvine provider of computer networking products and services, said it returned to profitability in the fourth fiscal quarter ended March 31, although revenue declined.

The company posted net income of $328,000, or 2 cents a share, compared with a loss of $4.9 million, or 41 cents a share, a year ago. The year-earlier figure included a $3 million restructuring charge. Revenue was down 25% to $5.4 million from $7.2 million.

For the year, the company recorded a net loss of $7.6 million, or 63 cents a share, which included a $2.6 million restructuring expense. That compares with a net loss of $22.5 million, or $1.91 a share, for the prior fiscal year, which included charges of $5.2 million for restructuring and $3.5 million for acquired research and development. Revenue declined 46% to $20.2 million from $37.3 million.