05:30 PM EST - Sirit Inc. : reported a net loss for the first quarter, in comparison with profit in the year-ago period, as revenues declined in the just concluded quarter. The year-ago period also included a gain from a sale. Sirit recorded a first quarter net loss of $1.3 million, compared to net income of $0.5 million in the first quarter of 2007. The year-ago quarter included a gain on sale of $1.4 million from the sale of its long-term investment in Applied Data Systems, Inc. Net loss per share for the quarter was $0.01, in comparison with breakeven per share for the first quarter of the previous year. Sirit Inc.
shares T.SI are trading down 3 cents at $0.22.
