Browser developer Spyglass Inc posted first-quarter results which were in line with a warning issued earlier this month. The Naperville, Illinois-based company reported a loss of $2.2m on revenue up 6.3% year-over-year at $4.5m. The loss, which amounted to $0.15 per share, matched revised expectations after the company said earlier that licensing revenues were lower-than expected for the quarter. Spyglass says the shortfall was mainly the result of some deals with device manufacturers which were expected to close during the quarter, but were delayed. The results come as a disappointment for a company which was believed to be heading rapidly down the comeback trail, as analysts had been expecting net income of $0.01 per share before the warning. Instead, investors saw a substantial retreat from the fourth quarter’s net loss of $589,000 on revenue that had increased 84.2% to $5.8m. First-quarter numbers still showed an improvement over the corresponding period last year, however, when the company reported a loss of $3.6m, or $0.28 per share. Results for the year-ago period include a pre-tax acquisition charge of $496,000, or $0.04.á
