Language translation specialist Sajan Inc (NASDAQ:SAJA) increased sales to a new record in its fourth quarter even though it was disrupted by a major restructuring.
Revenues climbed to US $7.66mln (US$7.5mln) in the three months to December, though the US$259,000 cost of restructuring meant a loss of US $165,000.
For the year, revenues eased slightly to US$29.2mln with a net loss of US$553,000.
Shannon Zimmerman, chief executive, said he was pleased with fourth quarter sales. “Our largest clients were the main contributors as we saw our top 20 accounts comprise 74% of our fourth quarter revenue.
“We also took a major step in improving our profitability outlook for 2017 in November by restructuring our business. The actions taken impacted operations, sales and marketing, research and development and administrative areas of the Company.
“Although painful, we expect our actions to save the Company approximately $1,200,000 of annual compensation costs while not impacting our ability to achieve our long term revenue growth objectives.”
Story by ProactiveInvestors