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read moreHarvestRoad has devastating harvest in 2005
Stan Beer
Monday, 12 September 2005 06:30
In an after market close announcement, e-Learning software provider, HarvestRoad (ASX:HRD), has reported a disastrous financial year, with a 61.6% drop in revenues and a 217% turnaround from a healthy net profit in 2004 to a hefty loss in 2005.
HarvestRoad blamed delays by customers in commencing key projects for its massive drop in revenues from $9.2 million in 2004 to just $3.5 million for the year ended 30 June 2005. The company's net loss of $2.248 million, compared with a profit of $1.913 million in 2004, was in line with the revised guidance of a $2.2 million loss released to the market on 7 July.
HRD shares closed up 2c to finish on 22c in thin trading.
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