ObjectShare’s Quarterly Losses Continue to Mount

Irvine software company ObjectShare Inc. posted a net loss of $1.2 million, or 9 cents a share, for the fiscal first quarter ended June 30, compared with a net loss of $778,000, or 6 cents a share, for the like period last year. Revenue declined 14% to $3.2 million. The company said results were affected by continued softness in the market and increased administrative costs associated with its cost-reduction program and the sale of a business unit in April. The company also said James Sutter resigned from the board and Winston Hickman had stepped down as chief financial officer. Hickman will continue as an advisor, the company said.