SciQuest cut expenses, increased revenues and thus reported a lower loss for the first quarter.
SciQuest (Nasdaq: SQST) improved revenues to $1.9 million, up $200,000 from the previous quarter and in the same period of 2003. Expenses were reduced to $5 million from $5.8 million in the fourth quarter. Its loss was cut to $3.7 million, or 12 cents a share, compared to $8.8 million, or 30 cents per share, in the fourth quarter and $4.6 million, or 15 cents, in 2002 before write-offs and accounting changes.
SciQuest: www.sciquest.com
