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by Jeff Moad, MA Editorial Staff
Posted on Friday, August 08, 2008 3:07:40 PM Sign Up to receive Daily News Alerts in your E-mail Inbox    | Abstract: | New products, including CDC Factory, lead the charge, but expenses exceed sales, leaving the mid-market software provider with a $10 million quarterly loss. |
| Keywords: | CDC Software, CDC sales, CDC revenue |
Led by solid growth in its software business, CDC Corp. yesterday reported second-quarter revenue of $111 million, a 10% increase over the $100.7 million reported in the second quarter of last year.
Significantly higher operating expenses, however, led to a net loss of $10.2 million. The loss was 174% greater than the net loss of $3.7 million reported by CDC Corp. in the same period a year ago.
Despite the bottom-line results, CDC Corp. CEO Peter Yip, in remarks to financial analysts today, expressed his satisfaction with the quarter. “Not only did CDC post all-time record revenue for the second quarter, we improved … adjusted net income,” he said. “And our new, lower cost structure has improved our operating leverage regardless of the economic environment, which we expect to be challenging.”
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