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Technology Stocks : Openwave Systems (formerly Phone.com & Software.com) (OPWV)
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To: Skeet Shipman who wrote (116)7/26/2002 2:52:14 PM
From: Lizzie Tudor  Read Replies (1) of 184
 
From your summary: "Cost structure will be reduced between 3-5% in each of the next qtrs."
What is this management thinking?? In a "perfect storm" those cost reductions better be 30-50%.

This Jeff guy from Lehman asked that question in the call. Their answer was that they couldn't execute any more cuts without sacrificing support. They have backed off the original claims of profitability by 1st half 03 but are still hopeful. I don't know, sounds like a lot of other software- just no demand. At least the QCOM numbers were good, I think thats a positive.... maybe....?
L

-And why a series of sequential cost reductions vs just a target and cutting.
Sequential reductions: a function of the reality of ability to execute cost cutting. There is a limited amt we can do
for sept qtr. For december we have another set of incremental actions. A more measured approach. We want
the customer base to know they are supported.
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