Summus Reports 152% Increase in First Quarter Revenue

SummusSummus has released quarterly results showing an increase in both revenue and margins. Total revenue for the first quarter of 2005 increased 152% to approximately $2.0 million, compared to $788,000 for the same period in 2004, and increased 19% over total revenues of $1.67 million for the quarter ended December 31, 2004. “This marks the sixth consecutive quarter of double-digit revenue growth.” Gross margins increased to 52% from 49% for the same period in 2004, and net loss from operations for the quarter decreased by 43% to $696,000, compared to a net loss from operations of $1.22 million for the same period in 2004. The results are due to an increase in the amount of content offered as well as an increase in the number of carriers carrying Summus content.
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