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Technology Stocks : Peritus Software Services (PTUS)

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To: JDN who wrote (1707)	12/3/1998 8:52:00 AM
From: JSI	Read Replies (1) of 1960

ILLERICA, Mass., Dec 2 (Reuters) - Peritus Software Services Inc. said Tuesday that it expects a fourth quarter net loss of $2.0 million to $4.5 million versus a net profit on an adjusted basis in the year-ago period. Peritus, which provides solutions for software maintenance, also said in a statement that it was cutting about 45 jobs. A company spokesman was not available to comment further. In September, the company laid off 90 employees out of its then 300-person workfroce. The restructuring charges related to the cuts of about $1.2 million will be recorded in the quarter ending December 31, 1998. The company said it was reviewing its property, plant and equipment to determine if any changes to depreciation schedules or carrying values are warranted. As of September 30, its net book value of property, plant and equipment was $5.2 million. It also said earlier this month that it would restate 1997 results for the third and fourth quarters of 1997 and the full year results. Its stock closed at 3/4, down 1/32 on the day.

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