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Technology Stocks : Quarterdeck: Making a Striking Comeback! -- Ignore unavailable to you. Want to Upgrade?

To: Jesse Livermore who wrote (2474)	3/13/1998 9:47:00 AM
From: Linch	Read Replies (1) \| Respond to of 3307

WOW, CYBR is BLEEDING from all orifices this morning and CEO RESIGNS: Check out the news from today/last night (seems like QDEK of past): CyberMedia to Reissue Fourth-Quarter Results; First-Quarter Results Previewed; Acting President Appointed Thursday, March 12, 1998 05:51 PM > SANTA MONICA, Calif.--(BUSINESS WIRE)--March 12, 1998--CyberMedia Inc. (Nasdaq:CYBR) Thursday announced that it will be reissuing results from the quarter ended Dec. 31, 1997, to show an increase in return reserves of $6 million to $8 million. CyberMedia also announced that it expects to report revenues between $5 million and $8 million for the quarter ending March 31, 1998, compared with total revenues of $16.5 million for the comparable period in 1997. ''We are working with our major distributors to adjust channel inventory levels as they deem appropriate,'' commented Kanwal Rekhi, chairman of the board. ''We are also working with our distributors to bring their account balances current with the company. They have responded at a level which is appropriate to meet the demand in the market for CyberMedia products. As a result, we feel comfortable with these revised fourth-quarter reserve levels.'' Additionally, the board of directors Thursday announced the temporary appointment of Chairman Rekhi as acting president with assistance from Executive Committee members Jim Tolonen and Ron Posner. This Executive Committee will be conducting a search for a permanent chief executive officer and expects to conclude the search in a matter of weeks. At the same time, the company announced that Unni Warrier resigned as president and CEO, effective immediately. ''I am confident that we will be naming a new CEO in the very near future,'' commented Rekhi. ''While first-quarter results are disappointing, we are confident that CyberMedia's core business is strong,'' added Rekhi. ''First Aid and UnInstaller are doing very well at retail, and both remain among the top 10 best-selling business software packages. First Aid recently received PC Magazine's Editor's Choice Award. These products represent the bulk of the company's revenues, and demand for them shows no sign of waning.'' ************* In my opinion, it wont be long before the two cross each other.