SoftNet Systems Reports Financial Results

SoftNet Systems (Mountain View, CA) reports Q4 and YE '97 financial results. Q4 '97 revenue of $8.5 million compares with Q4 '96 revenue of $9.5 million. A net loss of $3 million compares with a Q4 '96 net loss of $365,000. For the year, Softnet reports revenue of $38.6 million and a net loss of $2.6 million, compared with 1996 results of $41.4 million and $6,097,000, respectively. During the quarter Softnet realized a charge of $2,137,000 relating to write-offs from the disposal of subsidiary Communicate Direct (CDI)'s operations. Softnet "has continued to make real progress towards strengthening the operation of our core businesses," said CEO Johann Oosthuizen.