Netmanage, the PC networking company, has announced a small profit for the fourth quarter of fiscal 1997, despite making a loss of $33.8 million for the full year.
Net revenues for the fourth quarter were $18.9 million and net income was $4 million, compared to net revenues of $19.4 million and a reported net loss of $12.6 million in Q4 of 1996.
The company has also recruited three new senior personnel. Gary Anderson, previously at Netsource Communications, has been appointed chief financial officer. Kenneth Forbes, vice president of development for XP Systems, is now president of worldwide engineering and Ted Joseph, former president and CEO of Relay Technology, is vice president of worldwide OEM sales.
The company has also relocated its UK office to Hitchin, Hertfordshire, following the acquisition of Netsoft last year.
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