Any thoughts on the NEON meltdown after post-market earnings report> (estimated LOSS of .12-.22, vs. Wall Street expectations of a PROFIT of .12 or so -- PR copied below.)
Last I heard, CNBC said it was down something like 25 points in after-market Instanet trading. Anybody think it'd be worth looking to buy IN on Wednesday at the selloff prices (in other words, anybody think there'll be a decent "bounce")?...
Vagabond
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PR Newswire - July 06, 1999 16:20 -- New Era of Networks, Inc.(TM) (Nasdaq: NEON), announced today that, based on a preliminary analysis of its results for the quarter ended June 30, 1999, it expects revenues for the quarter to be in the range of $25 million to $30 million, compared with revenues of $11.5 million in the quarter ended June 30, 1998, and $29.6 million in the first quarter ended March 31, 1999. The company expects a net loss in the range of $0.12 to $0.22 per share, excluding acquisition- related amortization and other charges and assuming a normalized tax rate of 35 percent.
These statements regarding estimated results are preliminary and are based on partial information and management assumptions. The company expects to announce actual results for the quarter on July 20, 1999.
"Although we are unhappy about falling below our internal goals for the quarter, we are confident in the overall strength of the market for the company's products," said Rick Adam, NEON's chief executive officer. "The impact on operating results this quarter stems largely from two factors. First, we have incurred expense items related to our continued building of infrastructure so we can respond effectively to market opportunities. Second, a number of sales we expected did not close by the end of the quarter." |
