ClickAction, an e-mail services provider, reported second-quarter revenue of $2.4 million, compared with $5.1 million during the same quarter last year.
The Palo Alto, CA-based firm also posted net loss of $857,000, compared with $8.1 million during the second quarter of 2001.
The size of that loss was largely due to $7.6 million loss on discontinued operations.
The company had a cash balance of $1.6 million on June 30, the end of the quarter. Of that, $678,000 was restricted to secure a letter of credit.
The firm generated roughly $160,000 in cash from the collection of payments under a major contract, but these payments will not be recognized as revenue until the third and fourth quarters of this year. The total deferred-revenue balance was $1.8 million at the end of the second quarter.
CEO George Grant said in an investor conference call that the firm had faced “yet another quarter of economic uncertainty.” But he added that ClickAction was working to reduce costs and secure new business.
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