March ends up in red

Digital surveillance equipment vendor March Networks posts a loss of $400,000 ($.03 a share) in its closing quarter of fiscal 2007. The company earned $6.5 million ($.36 cents a share) in the same period in 2006. For the full 2007 year, March%5B1%5D.jpgMarch netted $8.8 million ($.49 cents a diluted share) before income taxes, compared with $21.1 million ($1.19 a share) the previous year. On the bright side, revenue for the year increased by 15% from fiscal 2006 to $87.6 million. Hurt by lowered sales to main customer Wal-Mart, March has been trying to diversify its customer base and reduce dependence of the world’s largest retailer, which until recently accounted for over half of March’s business. The company also quadrupled R&D spending from last year to $3 million in a bid to compete against bigger rivals.

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