Germany is tough for Morse
Big Sun dealer
The London, UK-based company said that in its fiscal third quarter ending March 31, 2002, revenue fell by 16% to 127m pounds ($180m), with its reselling business suffering a 22% drop in sales to 100m pounds ($142m). Revenue from its professional services operation increased by 23% to 27m pounds ($38m).
Morse said that its UK business stabilized during the quarter and experienced "an increase in activity." Despite the slowdown in its German operation, it said that it remained cash positive and at breakeven, and it claimed that recent restructuring in France had reduced its losses in the country.
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