Y2K (Year 2000) Stocks: An Investment Discussion Message Board

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Technology Stocks : Y2K (Year 2000) Stocks: An Investment Discussion

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To: Tech Master who wrote (13027)	10/8/1998 2:39:00 AM
From: Jeffrey S. Mitchell	Read Replies (1) of 13949

Re: Evidence that Y2K is affecting profits Document software company FileNet (FILE:Nasdaq) is expected to get a drubbing tomorrow after saying it will report a loss instead of a profit for the third quarter, due mostly to several major contracts that failed to close. FileNet says it expects to report third-quarter revenue of about $71.2 million and a net loss of about $5.8 million, or 18 cents a share. That contrasts with First Call's estimate of a gain of 14 cents and the year-ago 6 cents. FileNet shares had slipped to the lowest level in a year before it was halted for the pre-announcement just before the market close. <snip> FileNet also suffered in the third quarter from the Year 2000 bug. "It's the first time we've seen this, but Y2K concerns have delayed orders," Lee says. "This came up in three cases, including two health institutions. Up until now, it's been little more than a rumble over Y2K. I don't know if this will be a trend or not. I haven't seen any signs that it will be." <snip> Source: thestreet.com - Jeff

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