Cipher Data reported that net income fell...
- Share via
Cipher Data reported that net income fell 25% to $1.3 million and revenue increased by 14% to $45.9 million for the third quarter ended March 31. Net profit remained stable at $3.3 million and revenue rose by 21% to $135 million for the first three quarters.
The earnings drop was caused by “losses from our optical subsidiary, Optimem, and close-out expenses related to our Garden Grove facility,” according to Cipher Data Chief Executive Gary Liebl.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
