Hello,
Yes, I talked to the CFO - Ron Peters yesterday...
Here are the highlights:
1. It seems that they missed the analysts' target by
$3 million, due to the fact that some of their "deals"
that were expected for the end of that quarter didn't close.
He sited companies unwillingness to invest in new software,
vrs investment in existing Y2K problems...
2. He assured me that they have great clients in the works.
If you have been to their site and seen their existing base,
this is great news.
3. Their sales are up 50% from last year...
4. The article in the Globe which started the ball going, regarding
"lay-offs" seems to have stemmed from a disgruntled employee.
5. Mr. Peters clarified to me that they have "localized" sales people,
to work from the actual cities where they are getting new clients from. This is an excellent idea. However, of the 15 or so people whom this affected, there will always be someone unhappy.
He told me that Nigel Stokes will most likely be responding to this with a Globe writer. I told him, however, I thought this should be clarified directly on their website to us investors...
6. Remember, a similar incident to this happened 2 weeks ago to Mitel.
The follow-up in the Globe only worsened the blow.
7. My guess and according to trading patterns is that the stock is a buy and hold for six months.
I would highly recommend anyone seeking clarification call the CFO directly.
C |
