Touchstone Software Corp faces a difficult time while its new CEO and president Ken Forbes tries to turn round the Huntington Beach, California company. Third quarter figures from the utilities software house showed net losses up from $713,660 to $935,205, while revenues crashed 48.1% to $748,956. The slump is a result of Touchstone’s decision to leave the anti-virus market that now only accounts for 16% of sales against 54% a year ago. Forbes’ strategy is to cut costs, improve marketing and develop a new product that can restore the company’s fortunes. With an eye on competitors, all Forbes will say about the new product is that it will use the company’s diagnostic capabilities and the internet to help solve problems faced by home and small office users.
