Rand Worldwide, Inc. announces financial results for its first quarter ended September 30, 2013.
For the quarter ended September 30, 2013, Rand Worldwide, Inc. reported revenues of $18.5 million, compared with $19.4 million for the same quarter in the prior fiscal year. The Company’s overall gross margin was 46.0%, a decrease from the 50.2% reported for the first quarter of fiscal 2013, resulting in a net loss of $276,000, or $(0.01) per fully diluted share. For the quarter ended September 30, 2012, Rand Worldwide reported net income of $576,000, or $0.01 per fully diluted share.
Lawrence Rychlak, president and chief financial officer at Rand Worldwide, commented, “We are disappointed by our results this quarter which were driven by our lower than anticipated revenues. We have taken steps to re-energize our sales performance and are optimistic that we will be back on track for our second fiscal quarter. ”
Marc Dulude, chief executive officer of Rand Worldwide, noted that, “The overall business environment was challenging at the start of the quarter but improved as we emerged from the summer months. We are well positioned to capitalize on the depth and breadth of our expertise to get the Company back on a growth track.”
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