Tuesday July 6,4:05 pm, NEON Announces Anticipated Second-Quarter Financial Results
DENVER, July 6 /PRNewswire/ -- New Era of Networks, Inc.(TM) (Nasdaq: NEON - news), announced today that, based on a preliminary analysis of its results for the quarter ended June 30, 1999, it expects revenues for the quarter to be in the range of $25 million to $30 million, compared with revenues of $11.5 million in the quarter ended June 30, 1998, and $29.6 million in the first quarter ended March 31, 1999. The company expects a net loss in the range of $0.12 to $0.22 per share, excluding acquisition- related amortization and other charges and assuming a normalized tax rate of 35 percent.
These statements regarding estimated results are preliminary and are based on partial information and management assumptions. The company expects to announce actual results for the quarter on July 20, 1999.
''Although we are unhappy about falling below our internal goals for the quarter, we are confident in the overall strength of the market for the company's products,'' said Rick Adam, NEON's chief executive officer. ''The impact on operating results this quarter stems largely from two factors. First, we have incurred expense items related to our continued building of infrastructure so we can respond effectively to market opportunities. Second, a number of sales we expected did not close by the end of the quarter.''
About New Era of Networks
New Era of Networks Inc. is the leader in providing Enterprise Application Integration (EAI) solutions across multiple industry groups and the leader in providing packaged solutions that successfully integrate legacy applications, client/server and Web-based applications, as well as popular ERP applications. NEON has a rapidly growing base of 1,200 customers worldwide and has demonstrated that its products shorten implementation cycles, integrate disparate platforms, and allow information to be shared and managed across the enterprise. The NEON product suite supports EAI adapters for many popular packaged applications, technologies, databases, Web interfaces and network protocols. NEON distribution partners include IBM, Cambridge Technology Partners, Compaq/Tandem, Hewlett-Packard, Logica, NIWS (Japan), PeopleSoft, and others. For more information about NEON's products, call 800-815-6366 or visit NEON's World Wide Web site at neonsoft.com.
===================== VNTV =====================
Tuesday July 6, 5:07 pm Eastern Time
Vantive expects Q2 loss, COO to resign
SANTA CLARA, Calif., July 6 (Reuters) - Vantive Corp. (Nasdaq:VNTV - news), a maker of customer support software, said on Tuesday it expected to post a second quarter loss of 12-14 cents per share as it took a $2 million restructuring charge.
Vantive, headquartered in Santa Clara, Calif., also announced a new reorganization and would buy back up to $10 million worth of its stock.
''Our results in the second quarter showed that we have not yet performed to our potential,'' Vantive Chief Executive Officer Tom Thomas said in a statement.
The company was expected to earn 4 cents a share for the quarter, according to Wall Street consensus estimates compiled by First Call.
Vantive said a restructuring charge related to severance costs and the termination of some internal programs accounted for a loss of about 7 cents a share.
It did not elaborate on other reasons for the disappointing performance, but had scheduled a conference call with analysts for 3:00 p.m. PDT (6:00 p.m. EDT). ''We have grown quickly, but we need to act agressively in order to keep out momentum,'' Thomas said.
Vantive said it expected to post sales of $47-$49 million for the quarter, a rise of about 27 percent over the same period last year.
As part of its new reorganization, Vantive said Phil Dunkelberger would resign as president and chief operating officer.
Thomas said the reorganization was aimed at improving sales execution, speeding product development and bringing management in closer touch with customers.
The position of chief operating officer would be scrapped to create a more direct line of accountability from senior management to Thomas.
''The steps outlined today are designed to result in improving our productivity and execution,'' Vantive Chief Financial Officer Len LeBlanc said in a statement.
Vantive shares fell 34 cents to close at $12.81 in trading on the Nasdaq stock system on Tuesday. |
