Here's my read, FWIW:
We get a basically positive read on the revenue and earnings for both 3-month and 9-month periods, notwithstanding the one-time charge in the third quarter due to the customer going into receivership. And an explanation that the one-time charge should not affect earnings going forward.
Then we get this:
''While we have made significant progress in our product portfolio, support and channel development, we are experiencing
continued slow-down in the Asian market, sales weakness in our Compaq channel, and the concluding of development work
on the Siemens 36190 ATM switch. CrossKeys moves into its final quarter of fiscal 1999 with over 170 of the world's largest
service providers as customers, four new marketing partner prospects and an exciting performance management portfolio,''
Mr. Selwyn said. ''CrossKeys is well-positioned to transform this dynamic mix of products and partnerships into business
opportunities.''
I found this section really annoying. It is as if Selwyn is afraid to place an interpretation on the conflicting forces of sticking to the strategic plan and making progress on the IP performance, focused product mix and expanding partnerships when faced with slowing Asia, decreasing Compaq and the wrap-up of a Siemens contract. Here the company is saying to analysts (and investors): We've had great increases in revenue and earnings; we've made some good progress in our planning and product development. But we are facing some challenges. Maybe somebody could give us a reading on how we will do going forward, because we are not confident enough to make any statement on the company's performance going forward.
I'm not looking for CEO hype. I'm looking for leadership, confidence and vision in this statement. If we're going to see a pause, tell us. If we're going to continue to see gains, tell us.
How do others read this? |
