Jive Software, the provider of communication and collaboration solutions for businesses, reported a narrower loss for its fourth quarter of 2015. The company has been struggling financially, but managed to reduce its net loss to $3.8m, compared to $7.6m in the same period of 2014. Jive’s total revenue for the quarter was $51.7m, a slight increase from the $50.8m reported for the fourth quarter of 2014.
The company’s CEO, Elisa Steele, has been implementing a strategy to turn around Jive’s fortunes. This has involved focusing on the company’s core business and reducing its operating expenses. The workforce has been reduced by 14%, and the company has exited non-core businesses such as Producteev and Meetings.io. Steele’s efforts appear to be paying off, with Jive’s operating expenses down by 13% year-on-year.
Despite these improvements, Jive still faces challenges. The company’s customer base is not growing as fast as it would like, and it is facing increasing competition from other software providers. Nevertheless, Jive’s management remains optimistic about the company’s future. They believe that by continuing to focus on their core business and by improving their product offerings, they can return the company to profitability.
Go to source article: http://diginomica.com/2016/02/18/jive-escapes-the-dance-off-for-another-quarter-as-losses-narrow/