Lotus predicts lagging results for 2nd quarter: software maker is hit hard by price competition: stock takes 23% dive
Article Abstract:
Lotus Development Corp, the largest manufacturer of spreadsheet software, has warned analysts that its financial results for 2nd qtr 1992 will fall short of expectations. The company's stock prices dropped 23 percent in the wake of the announcement; analysts say that the poor results suggest that Lotus is falling further behind Microsoft Corp in the crucial Windows market, although Lotus itself blames industrywide price cutting. Lotus continues to enjoy an overwhelming 85 percent of the DOS spreadsheet market, but the Windows category is expected to grow more in the future. Stock prices have also been weak for other major microcomputer software companies. Borland International Inc's stock dropped $1.25 per share on Jun 25, 1992. Competition in the software arena is 'extremely intense,' according to observers.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1992
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Lotus says net nearly tripled in 4th quarter
Article Abstract:
Lotus Development Corp reports a strong 4th qtr 1989 with a 33 percent rise in sales and a trebling of profit. The software publisher reports net income for the quarter of $29.4 million on sales of $150 million, compared with net income of $9 million on $112.4 million in sales for 4th qtr 1988. Some analysts remain worried about the quality of Lotus's earnings, citing one-time benefits such as the company's sale of its Signal stock-quote subsidiary. Lotus claims that if anything, the numbers are deceptively small because the company has been deliberately reducing shipments to distributors in an effort to shrink inventories. Lotus states that 'revenues understate demand by $15 to $20 million because of this effect.'
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1990
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Lotus earnings were tripled in first quarter
Article Abstract:
Lotus Development Corp says 1st qtr profit more than triples 1989 figures on a 38 percent sales gain. Lotus reports net income of $22.8 million, or 53 cents a share, compared with a year-ago net of $5.3 million, or 13 cents a share. Sales are up to $165.5 million from $119.9 million. Results are at the high end of analysts' expectations, and shares closed on Apr 19, 1990 up $1.125, at $34.375. Lotus is entering a new-product cycle and expects respectable growth throughout 1990.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1990
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