Adaptive Solutions Rebounds in Q4 '97
Adaptive Solutions (Beaverton, OR, Nasdaq: ADSO) reports Q4 '97 revenue of $1.2 million, up 23% from Q4 '96. A net loss of $350,000 which includes one-charges of $840,000 compares with a Q4 '96 net loss of $283,000. For the year, ASI reports revenue of $3.3 million and a net loss of $1.2 million, compared with 1996 revenue of $7.3 million and a net loss of $5.6 million. The one-time charge includes part of the cost of acquiring Kodak's (Rochester, NY) OCR business back in October. Adaptive Solutions also revised a contract with Motorola (Schaumburg, IL), resulting in an extra $750,000 in revenue to be reported in Q1 '98. "We are optimistic about ongoing service, upgrade, and new product revenue opportunities visible to us during the remainder of 1998," said president and CEO Dan Meub.