PROVIDENCE, R.I. (BUSINESS WIRE)– Nestor, Inc. (OTC: NEST), a provider of intelligent software applications, reported revenues of $568,000 for the quarter ended September 30, a decrease of 50 percent compared to revenues of $1,141,000 for the same period a year ago.
For the nine-month period ended September 30, Nestor reported revenues of $2,799,000, a decrease of 26% compared to revenues of $3,787,000 in 1999.
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Nestor attributed the decrease in revenues in part to a decline in new orders for existing products and a slow down in the rollout of e-commerce products, which it reported affected both direct sales as well as those of its business partners.
At the time of the market closing yesterday, Nestor’s stock was trading at $1.44, unchanged from the previous day. For more information about Nestor, visit www.nestor.com
