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Microcap & Penny Stocks : TSIS: WHAT IS GOING ON? -- Ignore unavailable to you. Want to Upgrade?

To: jmt who wrote (2632)	6/10/1998 2:04:00 PM
From: BarbaraT	Respond to of 6931

Neither ... mostly problems relating to acquisitions and clients not paying bills. Premiere Technologies Shares Fall on Warning of Loss Atlanta, June 10 (Bloomberg) -- Premiere Technologies Inc. shares fell as much as 35 percent after the provider of voice- mail and conference-calling services said it expects second- quarter and full-year losses because two big customers haven't paid their bills. The company, which also offers Internet services, said it expects a second-quarter loss of 7 cents to 11 cents a share. It will take charges totaling $17.0 million, or 22 cents a share, for reserves against those customers' debts, which it may not be able to collect. Shares of Atlanta-based Premiere fell 4 1/64 to 10 27/64 in early afternoon trading of 9.29 million, almost eight times the three-month daily average. Earlier the shares touched 9 3/8. The company was expected to earn 27 cents a share for the quarter, based on the average estimate of eight analysts surveyed by IBES International Inc. In the second quarter of 1997, Premiere had a loss of $31.3 million, or 92 cents a share, which included charges for an acquisition and related tax effects. Today's decline comes after Premiere stock dropped 26 percent on Monday amid concern that the company wouldn't realize savings this quarter from recent acquisitions. At that time, BancAmerica Robertson Stephens analyst Marianne Wolk lowered her second-quarter earnings estimate to 22 cents a share from 27 cents. Premiere shares have fallen 64 percent this year. Annual Forecast For the year, Premiere expects a loss of 13 cents to 17 cents a share, including charges, on revenue of $490 million to $500 million. It was expected to earn $1.26 a share, the average of nine analysts polled by IBES. Part of the troubles are with customers of Premiere's so- called 800-based services that provide voice-mail, fax and other services through a toll-free phone number. The company didn't name the customers, one of whom recently filed for bankruptcy protection and another that's meeting with creditors to discuss restructuring its business. Revenue shortfall this year from the customers will be about $19 million. Premiere will take a charge of $7.5 million, or 10 cents a share, this quarter for reserves against the debt. It expects to report quarterly revenue of $100 million to $125 million. The rest of the charge, $9.5 million, or 12 cents a share, is related to other things, including an acquisition and a recently formed unit. The recently formed unit, Orchestrate.com, helps customers manage voice-mail and e-mail messages through a toll-free number and Web site, among other functions. The others costs are related to Premiere's February acquisition of Xpedite Systems Inc., a fax-services company, for $505 million in stock and assumed debt, and writing down some assets. Premiere faces stiff competition from some big names that offer similar voice-mail services, including AT&T Corp., the No. 1 long-distance company, and Lucent Technologies Inc., which bought the top voice-mail company, Octel Communications Corp., last September for $1.8 billion. 13: