Gentia Announces Q4 '97 Financial Results
Business intelligence software provider Gentia (Wakefield, MA, Nasdaq: GNTIY) announces Q4 '97 financial results. Revenue of $5.5 million compares with Q4 '96 revenue of $8.2 million. A net loss of $3.1 million compares with a Q4 '96 net income of $944,000. For the year, Gentia reports revenue of $27.2 million and a net loss of $4.0 million, compared with 1996 revenue of $26 million and a net income of $2.5 million. The loss is attributed to "the general confusion in this increasingly crowded data warehousing, business intelligence and decision-support marketplace," according to chairman and CEO Paul Rolph. Sales deferred from the end of 1997 to the beginning of 1998 were also factors in the decline, he said. During the quarter Gentia signed three contracts for its business intelligence software, and announced an agreement with Renaissance Worldwide (Newton, MA), a business and technology consultancy, to develop applications that help organizations identify, plan and move cohesively towards long-term objectives.