Datasquirt halves FY11 loss

Communications software developer Datasquirt (ASX:DSQ) halved its net loss for the year to March, and moved into the black in Q4

Enterprise communications solutions provider Datasquirt (ASX:DSQ) narrowed its net loss 51 per cent to $NZ599,000 ($519,000).

The Auckland-based ASX listed company grew revenue 31 per cent, taking in $NZ3 million from sales of its call center messaging services platform CONTACT.

In a report to investors, the company said it had eliminated cash burn during the year, achieving a profit in the March quarter.

Also in Q4, the company signed a deal in North America to allow a call centre provider to market CONTACT under their own branding. Datasquirt said this contract is worth over $US1 million ($910,890).

Datasquirt also made inroads into new verticals during the year, including utilities – through a deal with AGL (ASX:AGK), fast moving consumer goods and research.

The company expects sales to continue to increase in the current financial year, citing increasing demand for pay-as-you-go cloud based software support systems.

Datasquirt chairman Mark Loveys said this demand, as well as increased smartphone adoption and social media use, left the company “well placed to continue our growth in FY12.”

DSQ shares closed flat on Friday at $0.390.

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