Cornerstone Reports Q4 Results
Cornerstone (San Jose, Nasdaq: CRNR) reports Q4 '97 revenue of $23.2 million, up 9% from Q3 '97 but down 22% from Q4 '96. A net income of $189,000 compares with a net income of $7,000 in Q3 '97 and $1.3 million in Q4 '96. For the year, Cornerstone reports revenue of $91.9 million and a net income of $1.1 million, compared to 1996 revenue of $96.8 million and a net loss of $1.2 million. Software and display revenues were both up in Q4 '97, bolstered by the new release of its InputAccel document capture software. For the year, software revenues were up 73% from 1996. Cornerstone also shaved 23% off its Q4 '97 R&D expenses.