Diligent operating loss

Software company Diligent Board Member Services yesterday announced a US$11.8 million operating loss for the 2008 financial year.

Diligent produces Diligent Boardbooks, a web-based system to simplify board meeting materials.

It moved its software division from New York to Christchurch in 2001.

The 2008 financial year was its first full year as a listed company on the NZ exchange.

Sales for the 2008 year of US$2.93 million were up on

US$1.73 million for the previous year. But operating expenses were US$12.87 million, including US$6.2 million for marketing and US$5.4 million in general expenses.