Automated Language Processing Systems Inc. (ALPNET) announced a loss of $5.9 million on revenues of $23.9 million for the year ended Dec. 31, compared to a $7.1 million loss on revenues of $3.5 million for 1987.
The company reported a profit of $28,000 on $5.9 million of revenues for the first quarter 1989 compared with a loss of $539,000 on $6.3 million for the same period last year. The 1988 and first quarter results include gains on the sale of software rights of $525,000 and $250,000, respectively.ALPET earlier sold its rights to its retail products and medical products software, the company said, in order to become a full translation services provider for multinational customers. Recent acquisitions of translation service agencies account for the $20.4 million increase in 1988 revenues over 1987.
"The acquisition of the five translation agencies in 1988 positions ALPNET as the leading international source for translation services," said Fred Zirkle, president of the Salt Lake City-based ALPNET.
Zirkle termed the first quarter results encouraging. "Our centers can now offer language processing services, custom development and software on a local level. As the market responds, we expect our margins and related profitability to increase."