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Technology Stocks : Earnings: Small Cap Tech/ Software -- Ignore unavailable to you. Want to Upgrade?

To: 2MAR$ who wrote (63)	8/20/2001 12:01:09 AM
From: 2MAR$	Respond to of 238

SRNA ($14-$12)P/E 22 net income falls 37 pct BURLINGAME, Calif., Aug 16(Reuters) - Serena Software Inc. (NasdaqNM:SRNA - news) on Thursday reported fiscal second-quarter net earnings that fell 37.3 percent as the overall weak economic climate made closing sizeable deals difficult. ADVERTISEMENT For the quarter ended July 31, the maker of software tools that track and manage changes to software code and Web content, reported net income of $3.7 million, or 9 cents a share, compared with $5.9 million, or 15 cents a share. Excluding amortization, the company said earnings fell 20 percent to $5.7 million, or 14 cents a share, from the previous year's $7.1 million, or 18 cents a share. Analysts, on the average, had expected the company to earn 14 cents a share, according to Thomson Financial/First Call, with estimates by four analysts of either 13 or 14 cents a share. Revenue fell to $23.4 million, versus $25.2 million in the year-ago quarter. Software license revenue was $11.6 million and maintenance revenue was $10.3 million, the company said. Last week, Serena warned it would miss Wall Street's second-quarter and full-year expectations by a wide margin and that it would lay off 12 percent of its workforce. The company blamed the weakening economic climate that made closing large transactions difficult. The size of the shortfall stunned investors and they clipped 24 percent off the company's share price the following day. Serena said then that it anticipated earnings in the range of $5 million to $5.5 million, or 13 to 14 cents a share, far below the 23 cents on average that analysts had expected. Revenues were expected in the range of $22.5 million to $23.5 million. To cover the cost of the layoffs, the company said it would take a one-time charge of between $2 million and $3 million in the third quarter ending Oct. 31. For the fiscal year ending Jan. 31, 2002, it said it expects net income, excluding items, to range between 65 cents and 70 cents a share, below the 80 cents a share it earned in fiscal 2001 and the 97 cents analysts on average had expected. Shares of Serena closed down 3.2 percent, or 41 cents, to close at $12.30 Thursday. Since the beginning of the year, shares of Serena have fallen 65 percent and have underperformed the S&P Computer Software Index by 61 percent.