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news.Warnex has reported that revenues from continuing operations for the 12-month period ended December 31, 2007, increased by 27% to $25 million from $19.7 million for the same period of 2006.
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Net loss for the 12-month period decreased to $2 million or $0.04 per share in 2007 from $3.4 million or $0.07 per share in 2006, due to better operational results in 2007. For the twelve-month period ended December 31, 2007, earnings before interests, taxes, depreciation and amortization (EBITDA) was $2.7 million compared to $1.8 million for the 12-month period ended December 31, 2006, an increase of $0.9 million.
For the 12-month period ended December 31, 2007, total net loss, including discontinued operations, amounted to $1.6 million or $0.03 per share compared to $18.2 million or $0.35 per share in 2006.
Mark Busgang, president and CEO of Warnex, said: “We continued to deliver solid results in 2007 with an increase in revenues of 27% and a 52% improvement in EBITDA. Going forward, we are focused on maximizing our profitability, with a goal of posting positive net earnings for 2008.”