Determine Inc., a software firm that moved its headquarters from Silicon Valley to Carmel last year, saw improved financial results in its latest quarter, the company announced Thursday.
The company reported a loss of $2.7 million, or 18 cents per share in its fiscal second quarter, down from a loss of $3.2 million, or 28 cents, in the same period the previous year.
Revenue in the period was $6.9 million, up from $6.6 million a year ago.
Determine sells software that helps companies manage suppliers, contracts and procurement.
Its shares rose 7.5 percent on Thursday, to $2.30 each, prior to the earnings announcement.