The head of Mortice Kern Systems Inc. says the strategy the software company embarked on a year ago was the wrong one. "The change in focus of the business from its traditional software configuration management business to Web application management was a mistake," chief executive officer Philip Deck said in a conference call yesterday discussing third-quarter results.
"And it's our job to refocus the company back to its traditional strength areas."
He said the significant turnover of sales staff has now stopped and the company is hiring. He added Mortice Kern will also simplify its organizational structure.
In the quarter ended Jan. 31, Waterloo, Ont.-based Mortice Kern had a net loss of $4.1-million (U.S.), or 23 cents a share, compared with a profit of $512,000, or 3 cents a share, a year earlier. Sales fell 41 per cent to $6.4-million from $10.8-million.