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ISS Group halves Q3 losses

ISS Group halves Q3 losses

Software developer ISS Group (ASX:ISS) more than halved its Q3 losses to $436,000, but declining revenues kept it in the red.

The company, which posted a net loss of $1 million in 3Q09, said its unaudited results indicate that revenue fell 10% year-on-year to $3.4 million.

Cost controls helped the ISS achieve a gross profit was $708,000, but it was hammered by foreign currency losses, as it has been all year.

ISS warned that forex will likely continue to be a drain on profitability in the current quarter.

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