Sage Analytics International Inc. reported a net loss of $35,757 for the three-month period ended June 30 on revenues of $777,704, compared with revenues of $745,103 and a net loss of $104,349 for the same period last year.
For the six months ended June 30, revenues were $1.32 million with a net loss of $533,748 compared to revenues of $1.84 million and a gain of $477 for the first half of 1989.Jon D. Stephens, chairman and president, said the main reason for the loss was delays, beyond the control of the company, in executing a number of fast pack contracts with certain local government entities and industrial clients.
To minimize losses, he said, the company has made "significant reductions in salaries and personnel which will not affect the company's posture for future growth."
The impact of the cuts, he said, is that company expenses decreased from $768,289 in the first quarter of 1990 to $566,769 for the second quarter, a 26 percent decline.