Isilon cuts nets loss as Q2 revenues increase slightly |
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Isilon cuts nets loss as Q2 revenues increase slightly
Isilon Systems trimmed its losses and reported a three percent gain in revenues during the second quarter, a move that Chief Executive Sujal Patel said indicates "steady progress toward profitability."
The Seattle maker of digital storage technologies reported revenue of $29 million, up from $28.2 million for the same period last year. Its net loss was $3.7 million or six cents per share, compared to a net loss of $5.8 million last year.
Isilon finished the quarter with $75 million in cash and cash equivalents.
Isilon's products are used by companies such as JibJab, Kodak EasyShareGallery and NBC Sports to more effectively store digital media offerings such as photos, videos and music tracks.
The stock has gained 63 percent in the past six months, and is now trading at $4.49. That compares to an all-time high of $27.37 in December 2006.
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