March Networks announced financial results for the fiscal quarter and nine months ended January 31, 2012. All figures are in US dollars and in accordance with International Financial Reporting Standards ("IFRS") unless otherwise specified.
The Company's third quarter fiscal 2012 revenue of $32.4 million represented a 57 percent increase relative to revenue of $20.6 million in the third quarter of fiscal 2011 and grew 48 percent as compared to the second quarter fiscal 2012. Revenue for the first nine months of fiscal 2012 of $76.7 million increased by 5 percent relative to the first nine months of fiscal 2011.
Net earnings for the third quarter of fiscal 2012 were $1.6 million or $0.09 per common share as compared to a net loss of $2.5 million or $0.14 per share in the third quarter of fiscal 2011. Net loss for the nine-month period ended January 31, 2012 was $1.6 million or $0.09 per common share as compared to a net loss of $1.2 million or $0.07 per share in the nine-month period ended January 31, 2011.
The Company's cash and short-term investment position of $39.1 million at January 31, 2012 increased by $592,000 as compared to January 31, 2011 but declined by $6.8 million relative to $45.8 million at April 30, 2011.