Vertel Reports Net Loss of $1.5 Million in 4th Quarter
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Vertel, Woodland Hills, reported a net loss for the fourth quarter that ended Dec. 31 of $1.5 million compared to net income of $6.1 million for the same quarter the previous year. Revenues rose to $5 million compared to $3.5 million.
For the year that ended Dec. 31, the company reported a net loss of $7.8 million compared to net income of $7.3 million for 1998. Revenues totaled $19.8 million compared to $18.4 million.
Vertel provides software for telecommunications networks.
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