Amidst a flurry of recent deals, Summus has reported a revenue increase of more than 800 percent and a reduction in net loss of some $1.3 million for the second quarter of 2003.

Total revenues increased to $464,511 for the three-month period ended June 30, 2003, an increase of $413,761 or 815.3 percent, from total revenues in the corresponding period in the prior year.

Summus says the increase is a result of more wireless applications developed by the company being deployed by more wireless carriers, both domestically and abroad.

In recent months, Summus has announced several deals for delivery of multimedia content, such as photos, over advanced wireless networks. Deals have been made with the likes of Fujifilm, Qualcomm, European wireless carrier O2, Chinese game firm Magus Soft and AP Digital, a division of The Associated Press.

During the three month period ended June 30, Summus received $247,201 in wireless license fees for which there were no corresponding revenue in the same period during the prior period.

Summus also reported a significantly reduced net loss for second quarter 2003 of $807,282, or 1 cent per share, compared to a loss of $2,124,709, or 5 cents per share, for the same period a year ago.

Selling, general and administrative costs decreased by $518,667 or 31.37 percent to $1,134,532 for the three-month period, compared with $1,653,199 from the corresponding period in the prior year.

The decrease in selling, general and administrative expenses in both instances, says Summus, reflect a reduction in several expense categories, from salaries and third-party consulting fees to business travel and general office administrative costs.

Also during 2003, Summus says it has significantly reduced total liabilities to $3,635,975 at June 30, 2003, from $5,165,228 at Dec. 31, 2002 and $5,317,860 at June 30, 2002.

Summus: www.summus.com