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Technology Stocks : IFMX - Investment Discussion -- Ignore unavailable to you. Want to Upgrade?

To: PJM001 who wrote (10860)	5/20/1998 9:04:00 PM
From: seth thomas	Read Replies (1) \| Respond to of 14631

I just saw the press release regarding another restatement of IFMX financials. they go from being profitable to breakeven. I know IFMX folks read this thread - you have got to sue the pants off Ernst & Young. what possible advice could they have given earlier? This is unbelievable. I hope Ernst & Young, who was the previous auditor, and was asleep at the switch, goes down in flames. Can they have any credibility left in the software industry?

To: PJM001 who wrote (10860)	5/20/1998 10:04:00 PM
From: Lee L.	Read Replies (2) \| Respond to of 14631

Informix Restates First Quarter Fiscal 1998 Results Unbelievable. Every damn accountant in that company should be fired.

To: PJM001 who wrote (10860)	5/21/1998 2:11:00 PM
From: Howard Armstrong	Read Replies (4) \| Respond to of 14631

IFMX cannot recover because: 1) They've just announced that they must re-state earnings AGAIN (2nd time in a year), this time for Q1. (I was saying on this group a month ago that the previously reported earnings were bogus.) It will be a long time before anyone will trust them again. 2) No new products. Their most recent product announcement was about Informix-4GL, a 12-year-old product will no new enhancements! Informix-NewEra was supposed to replace it, but flopped. Universal Server and Datablades were a flop. XPS was a flop. How are they going to recover by selling the same old commodity relational database? 3) Further erosion of margins, thanks to Microsoft and IBM giving away their databases. 4) Those shareholder lawsuits ... which have merit given the re-statement of earnings. 5) Huge brain-drain; most technical people at the company have left. Listen to what I have been saying for a year: IFMX is dead!