Artifact Details

Title

Ashton-Tate anticipates reduced revenue and a net loss for the second quarter

Catalog Number

102762897

Type

Text

Date

1989-06-13

Publisher

Ashton-Tate

Identifying Numbers

Other number doc-4431b088b82c1 Deprecated ITCHP Number

Extent

3 p.

Description

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.

Category

Press release

Collection Title

Information Technology Corporate Histories Collection

Lot Number

X7847.2017