TouchStone Software’s Loss Could Swell to $1 Million
Troubled TouchStone Software Corp. in Huntington Beach said Wednesday that its losses ballooned to as much as $1 million during the previous quarter as revenue plunged.
The company, which develops diagnostic software for personal computers, said that while its expected losses are higher than the $714,000 it lost during the same period a year ago, they are an improvement over the second quarter, when the company lost $2.1 million.
Revenue for the third quarter will fall to $700,000 to $800,000 from $1.4 million last year, the company said.
The company has been restructured in the past few months under Chief Executive Ken Forbes, who was hired in August. TouchStone said it will implement a plan in the second quarter next year to deliver PC support software over the Internet.
The company’s announcement was made after the market closed Wednesday. The stock, which traded as high as $4.19 in May, closed Wednesday at 88 cents a share, down 6 cents.
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