Revenues were $118 million for the twelve-month period ended December 31, 2001, as compared to $72.1 million in the prior year period, according to the company's recently released operating results. "2001 was the most successful year in the history of the company," says John Snedegar, Micro General's CEO.

It was a year of substantial growth and accomplishment, adds Micro General's CFO, Dale Christensen. "Many of the actions that were undertaken last year have created strong building blocks on which the company can work toward additional future growth and profitability."

One major step that Micro General took in 2001 was closing its LDExchange business. This decision caused a charge of $3.4 million on the disposal of the discontinued operations and a loss of $1.3 million form the discontinued operations. The resulting net income was a fourth quarter 2001 net loss of $1.7 million, as compared with a net income in the 2000 fourth quarter of $2.5 million.

Now that Micro General has closed the LDExchange business, it is free to completely focus on its core products and services, according to Christensen. "With the SoftPro, RealEC and NGS products, Micro General is well positioned with a broader product offering heading into 2002," he adds.