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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 235.72

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12:50 PM EST

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To: GST who wrote (132523)	10/4/2001 10:39:27 AM
From: H James Morris	Read Replies (1) of 164684

Gst, this might explain why my PRGN is now trading 10 points under what I paid for it.:( >October 4, 2001 Business software maker Peregrine Systems said yesterday that results for its second quarter would be lower than expected, and it is changing its priorities to focus more on cash flow. The San Diego company said it expects revenue of 5 cents a share for the quarter ended Sept. 30, lower than analyst consensus estimates of 7 cents a share. Revenue for the quarter would likely be $175 million, the company said. The company's share price closed at $15.88 and then slid to $13.85 in after-hours trading. Peregrine said its finances were impacted by the Sept. 11 terrorist attacks and their effect on the global economy. After the attacks, key company deals fell through in most regions worldwide. Chief financial officer Matthew Gless said in a conference call to investors that the company planned to reduce its employee count from 4,400 to about 3,800 by the end of this year. That count includes employees from Silicon Valley rival Remedy, which Peregrine acquired earlier this year. Chief executive Steve Gardner said in the same conference call that, in light of the current economic climate, Peregrine will shift its priorities to focus on cash flow and be more conservative in its spending. "We're going to hunker down and emphasize productivity and streamlining until we see a clear turn in the economy," he said.

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