Posts Q4 Loss; Up Slightly for Full Year

May 28, 2010 –, Inc./(NASDAQ:SLRY), a provider of on-demand compensation, payroll and talent management solutions, has posted fourth quarter of fiscal 2010 revenues of $10.9 million, a four percent dip from the prior year. The company reported a net loss of $12.5 million or 74 cents per share, compared with a year-ago loss of $8.8 million or 53 cents a share. Analysts had predicted a loss of 12 cents a share on revenue of $11.58 million. For the full year, revenue was $45.8 million, up eight percent from fiscal 2009. “We are implementing a plan to reduce the number of businesses we are engaged in from five to three, and reduce the number of products we are developing, selling, and supporting from 17 to 10,” said Paul Daoust, interim chief executive officer. “As we concentrate on our leading compensation and talent management products, and our strong consumer brand, we will sell our payroll and sales compensation businesses, and stop the development of certain modules we had on our roadmap such as learning and HRMS.”

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