Mobile devices software maker Intrinsyc Software International Inc (TSX:ICS) narrowed its pretax loss in the first quarter to end-March 2009 to US$1.6 million from US$3.8 million a year earlier as revenue dipped to US$4.4 million from Us$5.5 million.
Interim chief executive Tracy Rees said in a statement "Although the challenging industry and macro-economic environment continued to impact our revenue performance during the past quarter, we made strong progress towards our goal of positive cash flow in 2009.
"We expect improvement in revenue performance in subsequent quarters as a result of new agreements signed in the quarter, including the signing of a multi-million dollar agreement with a Fortune 500 company,” she added.