Crimson Tide narrows losses

13th Apr 2010 14:52

Mobile devices software specialist Crimson Tide narrowed losses in 2009 after offloading a business that was deemed a 'distraction to management.'Losses shrank to £67,000 from $279,000 the previous year. Revenues were down to £1.46m from £1.78m after the disposal of a business in Ireland.'The company achieved its goal in the most difficult operating environment that many of us have seen and, were it not for some business failures amongst some of our customers, our progress would almost certainly have been even greater,' said chairman Barrie Whipp.'Over the course of the coming year I believe that Crimson Tide will continue its shift away from being a service company, as we increase the amount of software that we write for our tailor made products and thereby increase the amount of intellectual property inherent within the company.'