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Enterprising Investor

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Re: mplscubfan post# 61

Sunday, 05/18/2014 2:11:44 AM

Sunday, May 18, 2014 2:11:44 AM

Post# of 69
Adfitech now has about 250 employees.

On 10/18/13, the company announced a reduction in force of 320, or approximately 52 percent of its employees. This was the result of two customers that each accounted for more than 10 percent of revenue in both 2013 and 2012 undergoing a major, adverse change in their businesses.

Revenue declined to $3.5 million in Q1 from $11 million in the same period in 2013.

"Someone said it takes 30 years to be an instant success" - Gabriel Barbier-Mueller, CEO of Harwood International

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