Trading on Insightful Corporation (NASDAQ: IFUL), a provider of scalable data and text analysis solutions, climbed nearly 10 percent since reporting that the company has reduced its non-GAAP operating loss to $269,000 for the first quarter. Although overall revenues declined during the first quarter of this year, the company expects to continue delivering a series of product releases throughout 2008.
According to the company’s first quarter earnings report, Insightful Corporation’s revenues totaled $4.9 million, representing a year-over-year decline of 21 percent. The decrease resulted from a decline in the financial services market and significant turnover in the company’s sales force. Sales of Insightful’s desktop S-PLUS software for use by individual statisticians also declined due to the soft economy.
Insightful Corporation intends to launch new products built on the S-PLUS platform in the coming quarters. Sales to large European financial services customers continue to post strong results but the shift to larger and more complex enterprise sales has lengthened the company’s sales cycle over the past year. The company is focusing on the European market and continues to build its unified worldwide sales and operations function in order to better sell to and support global organizations.
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