Financial Fusion hits profitability after strong fourth quarter

Financial Fusion hits profitability after strong fourth quarter

Sybase trading systems subsidiary Financial Fusion is set to report its first profitable quarter after recording better than expected Q4 revenues.

The company recognised $8 million of revenue on reduced expenses to beat analysts' expectations to breakeven and achieve profitability in Q4.

New customer sales to George Weiss, Brokerage Trading System, New York Mercantile Exchange, California Federal Bank and US Bank, sales to the existing customer base including Bank of New York, partner strategy success with IBM, and expense management all contributed to Q4 profitability.

The companys says it expects to maintain momentum into 2002 with anticipated sales into Tier I & II retail banks in the Americas as well as electronic trading and financial services firms worldwide.

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