VANCOUVER - Intrinsyc Software International Inc. (TSX:ICS) said Thursday it lost $321,000 in its latest quarter as sales slipped compared with a year ago.
The mobile technology company reported sales of $2.2 million for the quarter ended March 31 compared with a loss of $100,000 on sales of $2.6 million a year ago.
On a per share basis, Intrinsyc reported a break-even quarter this year and last.
The decline in revenue was due to a combination of capacity constraints as a result of recruiting and retention issues, timing of customer projects and lower sales.
"Although we expect to achieve better results in the second quarter, the key catalyst for sustainable revenue growth is the execution of our strategy to expand our solution offering with silicon platform solutions," chief executive Tracy Rees said in a statement.
Intrinsyc develops hardware and software systems for companies building mobile devices including such as smartphones, industrial handhelds, portable gaming devices, e-readers and tablet computers.
