March profits dive despite increased revenue

March Networks profits plunge 87% in Q1, dropping to $374,000 ($0.2 per share) from $2.87 million ($.16 cents per share) in the same period last year. On the plus side, revenue rode record quarterly shipments to $24.5 million, up 7.6%. Increased business with March’s largest customer, Wal-Mart, was key to the digital surveillance equipment vendor’s higher revenue. Sales to the retail giant jumped 60% from the fourth quarter of fiscal 2007.

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