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PhotoWorks Reduces Losses in Quarter

PhotoWorks, Inc. reported a net loss of $441,000 for its third quarter, up from a net loss of $3 million, in the third quarter of fiscal 2001. Net revenue for the quarter ended June 29 was $10.5 million, down from $14.4 million for last year's third quarter. The mail order and online photo services company reported net income of $2.2 million for the nine months ended June 29, up from a net loss of

PhotoWorks, Inc. reported a net loss of $441,000 for its third quarter, up from a net loss of $3 million, in the third quarter of fiscal 2001.

Net revenue for the quarter ended June 29 was $10.5 million, down from $14.4 million for last year's third quarter.

The mail order and online photo services company reported net income of $2.2 million for the nine months ended June 29, up from a net loss of $12.9 million in the same period of fiscal 2001.

The Seattle-based firm's net revenue for the nine months ended June 29 was $30.8 million, down from $42 million for the comparable period of fiscal 2001.

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