IA Corp., a provider of software for check storage and retrieval, reported second-quarter revenues of $3.1 million, down from $4.3 million a year earlier.
And the quarterly net loss widened to $4.9 million from $1.1 million a year earlier.
IA said its results suffered from the deferral of several orders. The second quarter also saw an increase in reserves of $2.4 million due to risks associated with certain contracts.
Revenue for the first half fell to $8.1 million from $10.4 million in the 1997 period. The six-month net loss widened to $5.1 million from $200,000.
Separately, IA appointed Kevin Moran as president and chief executive officer. Mr. Moran, 42, was a senior vice president at Charles Schwab & Co., and spent 10 years at Fidelity Investments.