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RiverSoft increases revenue, R&D, recruitment and loss

The UK company, which produces software to manage faults on data networks, saw losses rise from ?5.3m in 1999 to ?26.5m in 2000.
The company blamed the widened losses on recruitment and increased R&D spend, which rose four-fold to ?5.8m during the year.
However, revenue was also up, from ?516,000 to ?5.17m, with almost half of it earned in the fourth quarter. RiverSoft chairman Phil Tee said in a statement that demand for the software should continue to rise as traffic volume on high-speed networks increases.
The company also outlined plans to increase revenue through licensing deals with companies such as HP.

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