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Network Associates makes another loss

Not bad going for a firm that makes anti-virus software...

By Ian Jones

Published: 12 October 2001 08:20 GMT

Network Associates has reported another dismal quarter, making it four losses in a row for the giant that owns brands such as McAfee and PGP Security.

The group made a net loss of $11.2m, and immediately announced a restructuring which will include the sale of parts of its encryption and firewall businesses.

For the quarter ending 30 September, the firm's revenues reached $209m.

George Samenuk, chairman, president and CEO of Network Associates, put a brave face on the news, claiming he remains committed to returning the firm to profitability.

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