SLI SYSTEMS NARROWS LOSS

E-commerce software seller SLI Systems narrowed its annual loss, reflecting cost containment during a restructuring following the loss of three major customers. The Christchurch-based company posted a $162,000 loss for the year to June 30, from a $7.55 million loss in the previous year, it said. Revenue increased to $35m from $28.1m, but the key metric for the company’s future success — annualised recurring revenues — fell to $31.2m from $34.6m after two major customers became insolvent and another took its e-commerce functions in-house.