DATC - hope you got out. .76 - .40 Sounds like other shoe to fall?
Datatec Sys Cuts Outlook; Chairman, CEO Gaon Steps Down
Friday December 5, 9:38 am ET
FAIRFIELD, N.J. (Dow Jones)--Datatec Systems Inc. (NasdaqSC:DATC - News) cut its earnings guidance and said its chairman and chief executive, Issac Gaon, 54 years old, stepped down along with independent board member, Mark Berenblut.
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The company now expects to post a loss for its fiscal second quarter ended Oct. 31 and all of fiscal 2004, down from a prior earnings forecast of 12 cents a share on revenue of $120 million to $125 million for the year ending April 30. For fiscal 2003, the company earned $1.4 million, or 4 cents a share on revenue of $125.1 million.
A company spokesman wouldn't comment on Datatec's decision to cut its outlook, or provide any reason for the departure of Gaon or Berenblut.
The representative said the company's new chief executive would comment on earnings guidance but didn't say when and added that the company will probably seek to replace Berenblut, 47.
In a press release Friday, the technology deployment software and services company said it expects Raul Pupo will replace Gaon after they finalize his contract.
Most recently, Pupo was the president and chief executive of RP Holdings, an IT investment and advisory services company, which he founded.
Company Web site: datatec.com |
