National News

Absolute Software reports Q3 profit, sales up

By The Canadian Press

VANCOUVER - Absolute Software Corp. (TSX:ABT) said Monday it earned $1.4 million in its latest quarter compared with a loss of $500,000 a year ago.

The security software firm said the profit amounted to three cents per diluted share for the quarter ended March 31, compared with a loss of a penny per diluted share a year ago.

Revenue in what was Absolute's third quarter of its financial year increased to $24.1 million, up from $20.9 million.

"Strong performance in the North American education and corporate verticals drove our top-line growth in the quarter," interim chief executive Errol Olsen said.

John Livingston tendered his resignation as Absolute's chief executive as well as a member of the company's board in December.

He said at the time that it was time for "new perspective and new leadership.''

The company said Monday it has started recruiting for a permanent chief executive and hired an executive search firm.

Absolute specializes in security software and services for computers, smartphones and other mobile devices.

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