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Technology Stocks : Vantive Corporation -- Ignore unavailable to you. Want to Upgrade?

To: Trader Dave who wrote (1930)	4/29/1998 4:40:00 PM
From: seth thomas	Respond to of 3033

Dave, are you miscalculating something? License revenues were up over 50% - and as a percentage of revenue, only moved from 66% to 62%. That movement is accounted for by the increased revenue you get from maintenance/annual support - as your base of licenses builds, you get more support base. That's a good thing. Let's see - revenue up 61%, EPS a little over expectations and up 40%, DSO looking very good (down from last year), cash management looking good (actually up from last year), balance sheet great - some competitive wins announced - looks good to me. Let's wait for the conference call.

To: Trader Dave who wrote (1930)	4/29/1998 4:40:00 PM
From: Early Out	Read Replies (1) \| Respond to of 3033

License revenues....is this a disaster? License revenues still up 50% over last year, Service made up 38% of revenue vs. 33% last year, does not seem too bad of an increase, although getting almost 40% of total revenue from Service seems excessive. Not sure I'd call it a disaster though. But, I'm new to this one. -jsc

To: Trader Dave who wrote (1930)	4/29/1998 5:31:00 PM
From: Clam Clam	Respond to of 3033

Marginally better than Morgan Stanley's estimates. $1mm better revenue on services mostly (slightly better on license). Would have been $.16 if they had spent Chuck's R&D estimate (which was equivalent with SEBL's $$ spend). Mediocre quarter.