Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: 2MAR$ who wrote (68439)	1/28/2000 9:41:00 AM
From: cabernetfranck	Respond to of 108040

IINT- in at 6 for a bounce. Bad news after the bell. Indus expects Q4 loss, restates lower Q3 profit SAN FRANCISCO, Jan 27 (Reuters) - Indus International (NasdaqNM:IINT - news), an asset management software and services provider, said on Thursday it expected a loss in its fourth quarter and had lowered third quarter profits amid an in-depth review of its financial results. The San Francisco-based company said it expected revenues of $40 million for its fourth quarter ended Dec. 31 and a preliminary net loss of $9 million, compared with a profit of $5.7 million and revenues of $54.9 million a year earlier. Indus also said a preliminary review of its third quarter revenue recognition practices showed it overstated revenue by about $5 million, all related to licensing fees. Indus revised its third quarter profit to $400,000 from $3.5 million, it said. The review was being conducted with the help of independent auditors, it said. Fourth quarter and restated third quarter results will be reported in about four weeks, Chief Executive Officer Kent Hudson said in a statement. ``Based on the review to date, Hudson indicated that management does not expect the review to have a material impact on the preliminary reported results for 1999' just reported, the company said. Indus shares rose 7/16 to 9-11/16 in trading on the Nasdaq on Thursday. The earnings estimates were announced after the close of U.S. markets.