SUNNYVALE, Calif.--(BUSINESS WIRE)--Aug. 7, 1997--ParcPlace-
Digitalk, Inc. (NASDAQ:PARQ) today announced results for its fiscal
first quarter, ended June 30, 1997.
For the quarter, revenue was $5.1 million compared to
$11.5 million in the first quarter of fiscal 1997, a decrease of 56
percent. The company had a net loss of $2.5 million for the quarter
compared to a net loss of $3.3 million for the first quarter of
fiscal 1997. Net loss per share for the quarter was $0.21 compared
to net loss per share of $0.26 in the first quarter of fiscal 1997.
As of June 30, 1997, the company's balance sheet shows
$13.0 million in cash, cash equivalents, and marketable securities,
and $4.0 million in accounts receivable. Deferred revenue at June
30, 1997 was $4.6 million.
As previously announced, the company has taken actions in the
fiscal second quarter to further reduce costs and restructure its
business, and will take a charge to fiscal second quarter results for
severance, facilities, and the write-off of excess assets.
As part of its restructuring efforts, the company announced that
Jim Smith, who joined the company in June 1997 as vice president of
worldwide sales, is now vice president of worldwide sales and
marketing.
The company's website can be found at www.parcplace.com .
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