News

Radiant Systems posts Q2 loss, looks to shift biz

August 5, 2003

ATLANTA -- Radiant Systems Inc. posted losses in the second quarter and announced that it may divest its enterprise software business.

According to a report in the Atlanta Business Chronicle, Radiant will continue as a public company focused on delivering site-management systems, including point-of-sale, self-service kiosk and back-office systems.

These systems are designed specifically for the company's core vertical markets, including gas stations, c-stores, foodservice outlets and cinemas.

The company had a net loss of $35.8 million on $27.8 million in revenue in the second quarter, compared with net income of $1.5 million on $36.7 million in revenue in the second quarter of 2002. Loss per share was $1.29 in the second quarter, compared with earnings of 5 cents a share in the second quarter of 2002, according to the report.

"The economic environment continues to dampen demand," said John Heyman, co-CEO. "While our second quarter results were disappointing, we continue to stay focused on our long-term operating model. We believe we are making the right investments in our products, markets and client relationships to take advantage of future improvements in the economy."

Radiant Systems said it plans to divest its enterprise software business. The sale will result in two separate and independent companies. Radiant will continue as a public company focused on delivering site management systems, the report said. See related story, "Radiant to highlight workforce management at Retail Systems."

The new enterprise software company will focus on delivering Web-based back-office products such as workforce and supply chain management to the broader retail markets.