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KarenSoft in the black with nearly RM1m net
TheEdge Daily, Wednesday, March 2, 2005
Mesdaq-listed KarenSoft Technology Bhd returned to the black with a net profit of RM977,000 for the financial year ended Dec 31, 2004 compared with a net loss of RM595,000 in the previous year.
Turnover rose 17% to RM6.15 million from RM5.24 million a year ago. The higher revenue was a result of overall improvement in the flagship product, KarenSoft ERP2 and introduction of new product, KarenSoft ExecSuite.
Commenting on the improvement in its financial results, KarenSoft said it was due to higher sales and reduction in operational cost especially staff costs.
"Barring any unforseen circumstances, KarenSoft expects its financial performance in 2005 to be bullish," it said.
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