MaSSSoftech

VANCOUVER — Curtailed spending by customers due to the global recession sent Epic Data International Inc.'s (TSXV:EKD) revenues down 59 per cent, trimming its third-quarter profits.

The manufacturing and data collection systems software and technology provider said net income for the quarter ended June 30 fell to $113,000 or a penny a share. That compared with year-earlier profits of $452,000 or four cents a share.

The Vancouver company said Friday that revenues plunged close to 60 per cent to $1.4 million versus $3.4 million in the year-ago period.

"Each of hardware, software and professional services revenue was down significantly compared to the same period in 2008, in part as customers curtailed spending in light of the global economic downturn," the company stated in a release.
A single project with a major U.S. defence contractor also accounted for higher revenues in the year-ago period, it added.

"We continue to see our customers in North America and Europe delay capital expenditure programs in light of the current economic conditions," said president and chief executive Robert Nygren.

He said that the company will continue to focus on sales and marketing initiatives as well as product development to deliver long-term success.

Shares of the Epic Data last traded Thursday at eight cents on the TSX Venture market.