The Y2K Newspaper 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.

Non-Tech : The Y2K Newspaper

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Bill Ounce who wrote (147)	11/12/1999 2:43:00 PM
From: Bill Ounce	Read Replies (1) of 198

Y2k Computer Glitch Costs Royal Doulton biz.yahoo.com Computer Glitch Costs Royal Doulton By BRUCE STANLEY AP Business Writer LONDON (AP) -- With more than 200 years of experience behind it, fine china manufacturer Royal Doulton thought it was being prudent when it installed a new computer system to guard against the Y2K bug. But the cure for the potential illness took a painful toll of its own. The company said Wednesday that it will lose an estimated $19 million in sales because the new equipment caused delays of up to 10 weeks in deliveries of its goods to distributors. [...] Investors reacted to the announcement by dumping the stock, which plunged 23 percent to finish trading at 79.5 pence ($1.27) per share. [...] The glitch apparently arose because of problems integrating the new equipment with the company's existing computers. As a result, the china maker was unable to supply distributors when they ran out of inventory. Spokeswoman Valerie Baynton said Royal Doulton has now solved the problem, but it has already cost the company. The expected loss is equal to 5 percent of Royal Doulton's sales for all of 1998. [...]

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next