Intergraph final quarter misses market forecasts big time.
biz.yahoo.com
HUNTSVILLE, Ala., Feb 1 (Reuters) - Computer workstation maker Intergraph Corp. (Nasdaq:INGR - news), hurt by special charges and expenses to cover its antitrust suit against Intel Corp. (Nasdaq:INTC - news), on Monday reported a fourth quarter loss steeper than market expectations.
The quarterly net loss totaled 43 cents per share, unchanged from last year's, but short of average analysts' forecast of a loss of 16 cents per share.
Per share results include expenses of 23 cents related to costs of employee terminations, asset write-offs, and its transition to outsourcing of its manufacturing operation.
For the year ended Dec. 31, Intergraph reported a net loss of 41 cents per share, including special items and manufacturing operations changes and gain on asset sales, on revenues of $1.033 billion. Net loss for 1997 was $1.46 per share on revenues of $1.124 billion.
Orders for new systems during the quarter rose 22 percent to $242 million. For 1998, orders rose 3 percent to $794 million from a year earlier. Its computer hardware and software businesses are ''on track'' for a profitable 1999, the company said.
Costs associated with the Intel litigation may prove to be a drag throughout 1999, the company warned. Intergraph lodged its suit against Intel in November 1997 for patent infringement, anti-competitive behavior and antitrust violations.
Prior to the announcement, Intergraph shares rose 19 cents to $5.25 on the Nasdaq.
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