BAD NEWS: biz.yahoo.com
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Security Dynamics Expects Lower First Quarter Results
BEDFORD, Mass., April 2 /PRNewswire/ -- Security Dynamics Technologies, Inc. (Nasdaq: SDTI - news) today announced that results for the first quarter of 1998 will fall short of the Company's operating plan. Excluding the results of the acquisition of Intrusion Detection Inc., which was completed during the quarter, Security Dynamics expects to report that revenue for the first quarter increased 37% to approximately $39 million, from $28.4 million for the first quarter of 1997. Excluding the acquisition and related non-recurring items, earnings for the quarter are expected to increase 17% to approximately $0.14 per share, compared to $0.12 per share for the same period in 1997. Security Dynamics plans to announce its first quarter financial results on Tuesday, April 21, 1998.
While the Company's results for the quarter are preliminary and require further analysis, the Company believes the primary reason for the shortfall was its failure to close certain sales that had been expected for the quarter.
''As a result of the shortfall, we will need to perform further analysis to determine whether any adjustments to our business plan need to be made for the balance of 1998,'' said Charles R. Stuckey, Jr., chairman, president and CEO of Security Dynamics.
Does anyone have any comments? Is this problem unique to SDTI? Are they saying what's really wrong? |
