Vastera 2nd-quarter net loss widens

Vastera 2nd-quarter net loss widens    Vastera Inc., a provider of trade management software, has reported a net loss of $1.4 million for the second quarter of 2004, compared to a net loss of $612,000 in the same quarter of 2003.
   In a statement, Vastera said its 'pro forma' loss for the quarter was $1 million, compared to 'pro forma' earnings of $527,000 in the same quarter last year.
   The company's second-quarter revenues were $21.2 million, down 2 percent from last year. Vastera's managed service revenues were up 2 percent to $14 million.
   In the quarter Vastera closed 16 deals, nine with new clients and seven with existing clients. Of those 16 deals, five were in software-managed services and 11 were in trade management consulting. Clients included Nestle, Coles Myer, Diebold, Wind River Systems, Datacard and Invensys.
   'I am pleased with the progress we have made in sales and marketing during the quarter,' said Tim Davenport, president and chief executive officer of Vastera, which is based in Dulles, Va. 'We significantly increased the size of our sales force, and expect that this investment and other initiatives will expand our pipeline over the next several quarters.'