Danka narrows Q2 loss

Danka Business Systems has posted a drop in year-on-year revenue in Q2, although sales and cash generation was slightly higher than Q1 figures.

Total revenue for the quarter was $308.7 million, a decline of 4 per cent from the same period in 2003.

Net loss was $1.8 million, compared to a net loss of $17.3 million in the year-ago quarter.

Danka’s CEO Todd Mavis said: "In the quarter we successfully executed on key initiatives to increase equipment sales and cash generation over last quarter. The company’s efforts remain focused on the creation of value across the enterprise and the second quarter results were validation that we are on the right track".

St Petersburg (FL)