Interactive media content producer Two Way Limited (ASX:TTV) has narrowed its losses 41% to $3 million in FY10, thanks to growing revenue and lower costs.
The company said revenue grew 17% to $1.65 million, in what was its strongest recorded results in its history.
Operating costs were cut by 3%, while depreciation and amortisation costs shrank 73%.
“The company continues to grow and demonstrate its potential as a developer and operator of advanced interactive technology, particularly for wagering companies,” Two Way chairman Stuart McGregor said.
Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.