Smart Online Reports Second Quarter 2008 Financial Results
Tuesday, August 12, 2008
Smart Online Reports Second Quarter 2008 Financial Results
Smart Online, Inc. (OTCBB: SOLN), a leading provider of Software-as-a-Service (SaaS) applications for the small business market, today reported results for its second fiscal quarter ended June 30, 2008.
Total revenues were $1,726,000 for the second quarter of 2008 compared to $1,204,000 for the same quarter in fiscal year 2007, representing an increase of $522,000, or 43 percent. Gross profit increased $407,000, or 37 percent, to $1,499,000 from $1,092,000. Operating expenses increased $413,000, or 19 percent, to $2,624,000 from $2,211,000. Net loss grew to $1,302,000 from $1,215,000, an increase of $87,000, or 7 percent.
