ObjectShare Reports a 2.5-Million Loss

Citing a continued market slump, ObjectShare Inc. said Wednesday that it lost $2.5 million, or 20 cents a share, for its fiscal fourth quarter ended March 31.

For the same period a year earlier, the Irvine provider of computer networking products and services had posted a net income of $327,000, or 2 cents per share.

Sales for the quarter fell 22%, to $4.2 million, from $5.4 million.

ObjectShare said it lost $4.8 million, or 39 cents a share, for the full fiscal year, compared with a loss of $7.6 million, or 63 cents a share, the year before. Fiscal 1999 revenue of $15.8 million was down 21.8% from $20.2 million.

The company’s stock was removed from the Nasdaq national market last week for failing to meet listing requirements, and ObjectShare said it will appeal the decision. Meanwhile, the shares are trading over the counter and fell 3 cents Wednesday to close at 71 cents.