Informix Corporation Announces Reduction in Previously Reported Charges for Strategic Realignment -- 4:43 PM EST
WESTBORO, Mass., Nov 14, 2000 (BUSINESS WIRE) -- Informix Corporation (Nasdaq:
IFMX) today reported in its Form 10-Q for the third quarter ended September 30,
2000 merger, realignment, and other charges of $62.1 million, as compared to
$67.2 million previously reported in its public announcement dated October 18,
2000. Subsequent to the October 18, 2000 announcement, and as part of its
continuing review of its merger and realignment activities, the Company prepared
a revised analysis of the remaining amounts to be paid under the restructuring
plan in connection with the merger with Ardent and concluded that the estimate
needed to be reduced as of September 30, 2000. This revision had the effect of
reducing the net loss for the third quarter to $80.6 million, or $(0.28) per
diluted share, from $85.7 million, or $(0.30) per diluted share, as previously
reported. The net loss for the third quarter of $18.5 million, or $(0.06) per
diluted share, before these charges, was unaffected by the revision. |
