Sucks,,PTUS going down ...
Peritus Software Services, Inc. Comments On First Quarter Outlook
BILLERICA, Mass., March 30 /PRNewswire/ -- Peritus Software Services, Inc. (Nasdaq: PTUS) today announced its preliminary results for the quarter ending March 31, 1998 based on information available to date. Total revenue in the 1998 first quarter is expected to be between $9 million and $12.5 million, and the Company expects a net loss between $(0.19) and $0.00 per share.
The Company's revenue shortfall is attributable to lower than anticipated license revenue primarily due to sales force integration issues. To address the challenges facing the Company, Peritus plans to reduce its expenses and incur a restructuring charge in the second quarter of 1998, including a net reduction in work force of approximately 35 people.
"Although we are disappointed with our results for the quarter," stated Douglas Catalano, President and CEO of Peritus, "we continue to attract new customers and cash and receivables at quarter end are anticipated to amount to between $22 million and $25 million."
The Company plans to announce its final 1998 first quarter results in late April.
About Peritus
Peritus Software Services, Inc. enables customers to break the endless cycle of application implementation, maintenance and obsolescence by deploying a unique combination of people, process and advanced technologies to continually protect and evolve clients' strategic software assets. For the Year 2000 problem, Peritus provides the technology expertise in its state-of- the-art, industry leading "mass change" products to enable its clients to adapt existing systems to cataclysmic events. For more information about Peritus, call 1-888-85EVOLVE or visit the Peritus web site at peritus.com.
This press release, may contain certain forward-looking statements, which involve risks and uncertainties. The Company's actual results may differ materially from the results discussed in such statements. Certain factors that could cause actual results to differ materially from those discussed in such forward-looking statements include the risks described in the Company's Registration Statement on Form S-1 filed with the SEC in connection with its July 1997 initial public offering and Form 1O-Q for the quarter ended September 30, 1997, which factors are incorporated herein by reference.
Peritus is a registered trademark of Peritus Software Services, Inc.
SOURCE Peritus Software Services, Inc.
CO: Peritus Software Services, Inc.
ST: Massachusetts
IN: CPR
SU:
03/30/98 08:22 EST prnewswire.com
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