Well it ain't the stock of the month anymore:
Vignette Announces Preliminary Fourth Quarter Financial Results
AUSTIN, Texas, Jan 7, 2002 (BUSINESS WIRE) -- Vignette Corporation (Nasdaq: VIGN chart, msgs), the leading provider of integrated content management applications, today announced preliminary financial results for the fourth quarter of 2001. Vignette expects total revenue for the quarter to be in the range of $50 million to $52 million with license revenue in the range of $20 million to $22 million. Based on this revenue, the company expects to report a core operating loss in the range of $13 million to $16 million. Core net loss is expected to be in the range of ($0.04) to ($0.06) per share, excluding certain noncash and one-time charges. Core results generally exclude amortization of deferred stock compensation and intangibles, purchased in-process Research and Development, and acquisition-related and one-time charges. One-time charges in the quarter are expected to include severance, facilities consolidation and equity investment write-downs. In addition, Vignette expects to record a noncash charge related to the impairment of a significant portion of the company's $1.0 billion in intangible assets.
"We continued to see the effects of the slowdown in the economy and technology spending during the fourth quarter," said Greg Peters, chairman and CEO of Vignette Corporation. "Although many companies continued to select Vignette's technology, we experienced an unanticipated level of spending decisions that were delayed until 2002. Nevertheless, companies are enthusiastic about Vignette(R) Content Suite V6, as we have seen strong upgrade activity with approximately 100 companies currently upgraded or in the process of upgrading. In addition, the cost control actions implemented earlier this year enabled us to end the quarter with approximately $390 million in cash, cash equivalents and short-term investments."
Vignette will host a conference call and live webcast regarding preliminary fourth quarter financial results on Monday, Jan. 7, 2002, at 8:30 a.m. EST. Members of the press can visit the Investor Relations section of the corporate Web site to access the live webcast.
Not buying more at this time, just watching and waiting as it shakes out today and probably into Wednesday. Oh well, just one of the risks you take buying in more just before earnings are announced. Still a great company and am convinced it will bounce back from this setback. Good Luck!! |
