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Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: American Spirit who wrote (23130)	4/3/2000 9:57:00 AM
From: JLS	Read Replies (1) \| Respond to of 57584

Legato says to revise 1999 revenues downward (Reuters, 04/3/2000 08:55) NEW YORK, April 3 (Reuters) - Storage management software maker Legato Systems Inc. (NASDAQ:LGTO) said on Monday it expects its reported revenues for 1999 will be reduced after it completes a review of its results with outside auditors. The company said in a statement it learned that some of its sales representatives, acting outside their authority, had entered into side agreements involving about $7 million of fourth quarter 1999 revenues. Mountain View, Calif.,-based Legato also said it estimated its revenue for the first quarter of 2000 to be in a range between $54 million and $56 million. Due to the review, Legato said it was delaying filing its annual report with the U.S. Securities and Exchange Commission until on or before April 14. Legato's shares closed at 44-5/8 on Friday on the Nasdaq stock market.