ISELIN, N.J., Aug. 1, 2007 (PRIME NEWSWIRE) -- SoftNet Technology Corp. (OTCBB:STTC) (German WKN:TG6) is pleased to announce preliminary, un-audited, revenue results for the second quarter indicating the Company will record its 6th consecutive quarter of increasing revenues.
Revenue for the second quarter will exceed $2,100,000, which compares favorably to the same period prior year when the Company recorded revenues of $1,518,000, a 38% increase year to year. Additionally, while not final, the Company further closed the gap toward profitability. Q2 2007 results will be formally communicated upon closing of the financial records for the quarter.
"The second quarter's performance was mixed. While the Company was pleased to achieve another quarter of increased revenue it was not as strong as earlier forecasted. This was due to a combination of delays in projects beginning and a slower than expected ramp up for a new client. However, 10 delayed and new projects started in July, which are an indication of a stronger Q3 performance. Additionally, the sales pipeline remains solid," said Jim Booth, CEO
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