The Santa Ana company, which is developing an Internet-based business information service, reported a second-quarter loss of $1.08 million, or 19 cents a share, compared with a year-earlier loss of $478,200, or 14 cents a share. Revenue for the period rose 43.7% to $485,700 from $337,900.
The company, which completed its initial public offering during the second quarter, said anticipated development costs of its Internet business service, including research, marketing and increased staffing, more than doubled operating expenses.
For the first half, Scoop reported a loss of $1.6 million, or 33 cents a share, compared with a year-earlier loss of $653,400, or 20 cents a share. Revenue for the first six months of $962,000 was up 48.7% from $647,000.
The company's stock dropped almost 14% Tuesday to close at $4.31 a share, down 69 cents, in moderate trading on the Nasdaq small cap market..