Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Merant - MRNT (formerly MIFGY) -- Ignore unavailable to you. Want to Upgrade?

To: Michael L. Busser who wrote (431)	4/22/1999 8:39:00 PM
From: PCSS	Read Replies (1) \| Respond to of 461

Michael .... may this will explain: Merant Shares Jump on Profit, Sales Growth Targets for New Year London, April 22 (Bloomberg) -- Merant Plc, the U.K.'s third largest software maker, said it aims to generate pretax profits of 10 percent to 13 percent of its revenue in the fiscal year starting May 1, while increasing sales by 15 to 19 percent. The announcement caused its shares to rise. Shares in Merant, which changed its name from Micro Focus after acquiring Intersolv Inc. in the U.S. last year, rose 23 pence, or 20.1 percent, to 137.5p ($2.22). On Nov. 5, Merant's shares fell 43 percent to 119 pence after the company said waning demand for work related to the year 2000 computer change would hurt third quarter profit. In February it said third-quarter net income fell to $5.2 million from $10.8 million on a drop in revenue to $95.7 million from $100.9 million. Today it said sales should start growing in the second quarter of the new fiscal year. ''Merant is excited about the prospects for fiscal 2000,'' Chief Executive Gary Greenfield said. ''Solutions focused on web development, e-business enablement and the information portal are areas expected to contribute to Merant's growth in the coming year.'' The company will release its results for the year ending April 30 in June. Today's announcement preceded a meeting with investors and analysts to discuss its strategy for the new fiscal year. Michael