Tangram Entgerprise Solutions, citing its cost-cutting and “hunkering down,” managed to slice its losses even as revenue dropped in the most recent quarter.
Tangram (OTC: TESI) lost $48,000, or a penny a share, on revenues of $2.3 million. A year ago, the provider of automated IT solutions had revenues of $3.1 million but posted a $421,000 loss.
“The pronounced reduction in IT asset management spending has been widely recognized by analysts and the media,” said Ron Nabors, senior vice president and chief marketing officer. “What may have gone unnoticed are the companies like Tangram that have maintained product quality as they have cut fixed costs, hunkered down, and prepared to capitalize on the inevitable rebound.”