eGlobal cuts cash burn
Listed Web consultant eGlobal hasmanaged to do some trimming to operations over the last quarter, reducing down cash burn considerably.
For the quarter ending June 30, customer receipts were up 35 per cent on the previous quarter, but more significantly net operating cash flow was reduced from $763,000 to $81,000. The company also announced it had 66 per cent more cash in its pockets ($726,000) as a result.
Managing director Gordon Chalmers put most of the achievements down to the success of the company's e-commerce services and SAP implementation divisions.
IBM backs Web protocol
IBM is trying to corral network industry support for a communications protocol named httpr (reliable http) which enhances the reliability of the http underpinning most Web traffic.
The new protocol ensures a message gets delivered over the Internet to its destination application only once or gets reported as undeliverable. httpr is geared toward B2B communications, such as ordering a part or processing a purchase order.
IBM engineers designed httpr to work with other nascent Web services protocols such as simple object access protocol for XML message formatting, universal description discovery and integration for directory services.
Melbourne IT grows
Domain services company Melbourne IT released positive financial results for the six months to June 30, with an EBIT of just over $2 million, 34 per cent higher for the six-month period than for the entire 2000 financial year.
CEO Adrian Kloeden described the results as proof the company had turned the corner. He was less enthusiastic when commenting on a recent Australian Domain Authority report into .com regulation as it suggested the body will remove Melbourne IT's monopoly on the domain.
Kloeden said the company was still reviewing the report "in light of auDA's charter and the principles of self-regulatory reform."