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Technology Stocks : MicroStrategy Inc. (MSTR) -- Ignore unavailable to you. Want to Upgrade?

To: Anthony@Pacific who wrote (678)5/2/2001 4:43:31 PM
From: Jay Fisk  Read Replies (1) | Respond to of 715
Uhhh.... doesn't look good even with the nonsense proforma numbers reported....

MicroStrategy's Losses Beat Dire Predictions
(05/01/01, 7:17 p.m. ET) By Rick Whiting, InformationWeek

Business intelligence software supplier MicroStrategy Inc. has reported sales and earnings for its first quarter that slightly exceeded the dire warnings it issued in early April.

The company reported a net loss of $20.6 million (28 cents a share) compared to a net loss of $32.9 million (42 cents) in the same period last year. Revenue increased less than 2 percent to $51.4 million from $50.6 million one year ago.

In April, MicroStrategy (stock: MSTR) said revenue for the first quarter would be $47 million to $51 million and its loss in the range of 31 to 37 cents per share.

The vendor has been struggling for more than a year and has been hit hard by the economic slowdown.

The company, which is in the process of cutting 600 jobs, or one-third of its workforce by the end of the current quarter, reduced its operating expenses by about $5 million and improved its pro-forma operating results by 33 percent year-over-year.

There were warning signs about the future, however. Particularly worrisome was a 25 percent plunge in the vendor's license revenue to $19.6 million from $26 million in the same period last year.

License revenue is a key indicator of future growth.

>> More from InformationWeek >>


Unbelievable anyone would risk one cent on this one !