MetaCreations (MCRE) - Detailed Goo in a Soapy Dream Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : MetaCreations (MCRE) - Detailed Goo in a Soapy Dream

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Pete Mason who wrote (667)	6/29/1998 5:13:00 PM
From: Eman03	Read Replies (1) of 846

Pete, I hope you waited... Carpinteria, Calif.--(BUSINESS WIRE)--June 29, 1998-- MetaCreations Corp.(NASDAQ:MCRE) Monday announced that revenue for the second quarter ending June 30, 1998 will be significantly lower than current analyst expectations. The company attributed the revenue decline to several factors, including, among others, lower than expected revenues in domestic retail channels, weak demand in Japan, and increased reserves for returns to reduce distributor inventory levels. MetaCreations indicated that it expects second quarter revenue to be in the range of $8 million to $9 million. The company anticipates incurring a net loss for the quarter of between $10 million and $11 million ( a loss of 44 cents to 48 cents per share). The anticipated loss includes estimated restructuring costs of $4 million to $5 million. Gary Lauer, MetaCreations' new president and chief executive officer, stated: "I am very dissatisfied with MetaCreations' results. I am carefully reviewing all activities across the company and will be taking appropriate actions." MetaCreations also announced that Fred Brown, senior vice president of sales and marketing, will be leaving the company on June 30, 1998. An active search for both a new marketing executive and a new sales executive is currently under way.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next