Hummingbird Comm. (HUMC) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Hummingbird Comm. (HUMC)

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

From: John Chatterton	8/23/1999 10:02:00 PM
	of 2018

This news item clarifiles the situation a bit. DJ Hummingbird Sees 20%-25% Rev Growth In FY2000 TORONTO (Dow Jones)--Hummingbird Communications Ltd. (HUMC) sees revenue growth of 20% to 25% in fiscal 2000, company chairman and chief executive Fred Sorkin said, adding that he expects about $200 million of revenue from continuing operation for fiscal 1999. Fiscal 2000 net earnings excluding amortization should be about $2 a diluted share, he added. Sorkin provided some of this information in a conference call Monday and some of it in a brief interview after the call. Monday, Hummingbird reported third-quarter revenue of $42.5 million and net income of 52 cents a diluted share, excluding amortization and other charges. The company took a $20.7 million charge as a result of its acquisition of PC DOCS, a document management software company. Some of that charge was related to paying termination costs to departed senior executive of PC DOCS, but Sorkin declined to provide figures about those costs. Hummingbird recently divested two divisions and Sorkin said the company may divest another one as well. He also reiterated his commitment to paying down the debt incurred from the PC DOCS acquisition. "I hate debt," Sorkin said. Hummingbird has been restructuring operations, has cut about 35 to 40 jobs as of now and will cut another 100 to 120 jobs in the next couple of months. Sorkin also reiterated his plan to release a knowledge information portal product by January. The product will combine business intelligence and document management software. The acquisition of PC DOCS closed near the end of the quarter. Hummingbird declined to break out how much revenue in the quarter came from PC DOCS and how much came from Hummingbird's business intelligence operations. But Hummingbird said its connectivity software sales were $27.2 million in the quarter, with the remainder being document management and business intelligence software sales. Hummingbird has decided to break out its revenue into two areas: connectivity and knowledge management software. It won't break out knowledge management revenues further into business intelligence and document management. -Scott Adams; 416-306-2026; scott.adams@dowjones.com More about Hummingbird Communications Ltd.:

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next