Ashton-Tate anticipates reduced revenue and a net loss for the second quarter
Deprecated ITCHP Number
Press release and cover memo announcing that Ashton-Tate Corporation (NASDAQ: TATE expects to report significantly reduced revenues for the quarter ending June 30, 1989, perhaps as low as $55 million, compared to $71.9 million reported for the quarter ended July 31, 1988 and $89.8 million reported for the first quarter of 1989. The anticipated reduction in revenues results primarily from the continuation of the company's previously announced program to substantially reduce U.S. distributor and reseller inventories and from lower than expected upgrade revenues. Given the reduced revenues, combined with increased sales and marketing expenditures, the company anticipates that for the second quarter it will repon a loss estimated at $15 million ($0.56 per share) including approximately $8 million ($0.30 per share), related to the writeoff of product rights and inventories principally related to the Decision Resources product line which it acquired in 1986. Donated by Ed Esber. 3 scanned pages.
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