Software firm Determine sees improvement despite quarterly loss

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Determine Inc., a software firm that moved its headquarters from Silicon Valley to Carmel in mid-2016, continued to lose money in its latest fiscal quarter, but less than it did the previous year.

The company reported a loss of $1.3 million, or 9 cents per share in its fiscal third quarter ended Dec. 31, down from a loss of $1.5 million, or 20 cents, in the same period the previous year.

Revenue in the period was $7.5 million, up from $6.9 million the year before.

Determine sells software that helps companies manage suppliers, contracts and procurement.

Its shares rose 17.5 percent in after-hours trading Thursday, to $2.08 each.

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