Versant Corporation Posts Strong 1st quarter
The first quarter for Versant Corporation ending Jan 31st was reported today. The company had profits of $766,000, the largest since its IPO in 1996. Surprisingly these profits came with a decrease in revenues from $5.1 million the previous quarter to $4.6 million this last quarter. The increase in profits were attributable to the company’s 2005 restructuring plan which emphasized cutting costs. The decrease in revenues was do to the finalization of the sale of Versant’s discontinued operation WebSphere.