The company reported consolidated revenues of $5.1 million over the quarter, compared to $6.3 million in the second quarter of 2009.
The Ottawa-based advanced geospatial systems and software company said it lost $750,000 after taxes in the second quarter of 2010 – a slight improvement on its $1-million quarterly loss of one year ago.
OSI Geospatial (TSX:OSI)’s sale of its soldier systems intellectual property had helped push the company’s bottom line into the black in its first quarter of 2010, despite lower revenues in all three of its remaining businesses.
In April, the company's mapping business – which it also considered selling earlier in the year – landed a $4-million deal to provide digital mapping production services to an unnamed customer over the next 12 to 18 months. That was on top of a slew of other contracts signed by the firm's mapping division this year, adding up to around $3.8 million.
For the second quarter of 2010, the net loss attributable to common shareholders was $838,000 or $0.02 per share, the company said, compared to a net loss of $1.2 million – or $0.02 per share – in the second quarter of 2009.