Hi Doug,
I sure hope you've bailed out before this....from today's earnings release:
"Clearly, these results are not acceptable from the Company's perspective," said UniComp President and CEO Stephen A. Hafer. He added, "With the May launch of IPPS, the increased marketing activities for our new wireless customer-activated retail systems and the expected improvement of our software solutions sales in the fall, improved revenue growth over the remainder of the year is expected. We are currently pursuing settlements for the cancelled contracts, which combined, guaranteed approximately $1.2 million in revenue for fiscal 2001."
Lower revenues have resulted in disproportionate sales, general and administrative costs as a percentage of revenue. Hafer said, "The Company is working aggressively to correct this distortion by strategically reducing SG&A costs and increasing margins. Measures under consideration include consolidating the Company's US facilities, trimming headcount through the elimination of jobs created to support the cancelled contracts and through attrition."
Pure ugly....won't this company ever learn???? |
