Enterprise security software developer Proginet Corporation has reported total revenue of $2 million for the first quarter ended October 31, 2007, against total revenues of $1.92 million in the equivalent period of fiscal year 2006.
The company incurred a loss of $381,972 for the quarter, compared to a loss of $98,950 for the equivalent period last year.
Kevin Kelly, president and CEO, said: Proginet has incurred substantial expenses related to major expansions in sales, marketing, and communications activities. These are critical programs for the company. As such, we continue building the foundation for long-term growth.