FairMarket Inc., a provider of online auction and promotion technology, reported a net loss of $534,000 for the fourth quarter, an improvement over a net loss of $6.9 million the year before.

The Woburn, MA company reported revenue of $1.7 million for the quarter ended Dec. 31, 2002, up nearly $400,000 from $1.3 million the year before.

Management attributed these results to the reversal of approximately $513,000 of unused office space charges and gains in market share.

The firm’s net loss for 2002 was $22.1 million, a 45% improvement over a $40.2 million loss the year before.

Revenue for 2002 totaled $5.7 million, a $2.8 million decrease from revenue of $8.6 million in 2001.

FairMarket Inc., a provider of online auction and promotion technology, reported a net loss of $534,000 for the fourth quarter, an improvement over a net loss of $6.9 million the year before.

The Woburn, MA company reported revenue of $1.7 million for the quarter ended Dec. 31, 2002, up nearly $400,000 from $1.3 million the year before.

Management attributed these results to the reversal of approximately $513,000 of unused office space charges and gains in market share.

The firm’s net loss for 2002 was $22.1 million, a 45% improvement over a $40.2 million loss the year before.

Revenue for 2002 totaled $5.7 million, a $2.8 million decrease from revenue of $8.6 million in 2001.