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Sitebrand cuts losses

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Published on July 29th, 2010; Published on July 29th, 2010
OBJ Staff Ottawa Business Journal

Gatineau-based Sitebrand increased its revenues for the second straight quarter, helping to reduce its loss by 74 per cent, the company reported Thursday.

Topics :: Big Apple

The online marketing solutions company said second-quarter sales increased seven per cent to $482,576 over its first quarter results.

However, that’s still down almost 21 per cent from the $609,735 in sales the company recorded a year earlier.

Sitebrand posted a net loss of $29,161 in the three months ending May 31. That’s down from a first-quarter loss of $112,164 and a loss of $102,032 in Q2 2009.

The company credited its improved bottom-line results to a combination of increased gross margin, cost reductions, and other improved operating efficiencies.

"In Q2, Sitebrand … demonstrated improvements in revenues as well as earnings, as our past efforts to improve the business become apparent," said Sitebrand president and CEO Chris Corman in a statement.

See related stories:

Sitebrand raises $158K in second tranche of financing

Sitebrand takes bite out of the Big Apple with NY Post trial

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