Fiscal 2003 Ends Mixed For Brio

Business-intelligence software vendor Brio Software Inc. saw its losses narrow in fiscal 2003, but its sales dropped, too. Its fourth-quarter results were mixed as well. While Brio reported a slight uptick in sales as the year ended, its quarterly loss widened. At least some of the loss can be blamed on one-time expenses related to facility closings.

For the year, ended March 31, Brio reported a loss of $16.6 million, or 44 cents a share, on sales of $103.1 million, compared with a loss of $25.7 million (85 cents a share) on sales of $111.4 million in fiscal 2002.

For the quarter, Brio reported a net loss of $13.4 million, or 36 cents per share, on sales of $26.7 million, compared with a net loss of $3.8 million, 12 cents per share, on sales of $25.4 million a year earlier. The quarterly results included $12.6 million in facility-closure expenses. License fees in the quarter were up slightly to $11 million.