For the third quarter of its 2005/2006 fiscal year, which ended Dec. 31, 2005, Lion reported total revenues of €1.3 million ($1.6 million), which came entirely from discontinued operations -- a drop of 40 percent from revenues of €2.2 million in the year-ago period, which were also derived from discontinued operations.
The company's discontinued operations posted a slight profit of €13,000 for the quarter, however, compared to a net loss of €2.4 million in the year-ago period.
Lion's total net loss - which includes the discontinued operations as well as continuing operations -- fell to €282,000 for the quarter from €3.2 million in the prior-year period. Continuing operations reported a loss of €295,000, compared to a loss of € 776,000 in the same period of the last fiscal year.
The company said in a statement that it is mulling "a new business model" for its continuing operations, which currently entail the management of Lion's remaining cash holdings and intellectual property estate.
Lion held €7.8 million in cash and cash equivalents as of Dec. 31, plus €14.8 million in marketable securities.