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Technology Stocks : CrossKeys Systems Corp [CKEY and CKY/TSE] -- Ignore unavailable to you. Want to Upgrade?

To: Helmut who wrote (750)	9/12/2000 10:58:13 AM
From: Francois Lavoie	Read Replies (1) \| Respond to of 792

Helmut, I'd like to know why the selloff happened before the news. Can we go directly to the TSE, OSC, SEC ? As for now, it could be a buying opportunity. The stock is off another 25% as we speak. I'm going to wait a bit because I don't know if the stock as any support. Any opinions on TA ? Francois. Tuesday 12 September 2000 CrossKeys shares fall on results warning Kristin Goff The Ottawa Citizen CrossKeys Systems shares tumbled $1.75 to $14.75 yesterday in late trading, just before the company issued a warning that its results for the latest quarter won't meet market estimates. The Kanata software maker said late yesterday that its failure to close a "small number of significant licence sales," two of which were worth more than $1 million each, will result in poorer financial results than had been expected. "We're not losing business ... it's just sliding into the next quarter," said Ian McLaren, president and chief executive, in a teleconference with analysts. CrossKeys said it expects to report losses of 14 to 16 cents a share on revenue of $13 million to $13.5 million in its first fiscal quarter, ended Sept. 3. Analysts had been expecting earnings in the 6-to-7 cent-a-share range. Mr. McLaren told analysts he didn't expect the first quarter results to change the outlook for the entire fiscal year. "We're still optimistic" for estimated revenues of $75 million this year, Mr. McLaren said. CrossKeys' announcement came at the close of trading on the Toronto Stock Exchange yesterday. The company will report its detailed first-quarter results on Sept. 27. The estimated revenues of about $13.25 million were higher than the $7.6 million reported a year earlier but lower than the previous quarter's revenues of $14.5 million.