Kronos Corp. expects to report decline in net for quarter, rise for full year

Article Abstract:

Kronos Corp expects to report a 20 percent drop in earnings for 4th qtr FY 1992 and a 46 percent or higher rise for the fiscal year, meeting analysts' predictions. Kronos, which went public in July 1992, is expected to announce net earnings of $1.1 to $1.2 million, the equivalent of 23 to 25 cents per share, for 4th qtr of FY 1992. In the same quarter of FY 1991, Kronos reported net income of $1.4 billion, the equivalent of 35 cents per share. Fourth qtr of FY 1991 was a particularly strong period for the company. Kronos is also expected to report a revenue increase of 15 percent for the quarter, from $13.5 million to $15.5 million. Kronos has allocated $4.5 million of capital for spending for FY 1993, an increase of $1.5 million over FY 1992. Kronos said that sales have been satisfactory, despite the poor economy.

Office machines, not elsewhere classified, Growth (Physiology), Kronos Inc., Growth, Fourth Quarter

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Lotus cuts costs with hiring freeze and some layoffs

Article Abstract:

Software publisher Lotus Development Corp is cutting costs with a hiring freeze and layoffs that may involve as many as 40 people. Lotus is trying to cope with slumping earnings and although the layoffs represent a small portion of Lotus's work force of 3,100, the move reflects management's growing concern about Lotus's outlook. Lotus stock fell 50 cents to $22 on Aug 3, 1990, down from $34 on Jul 17. Lotus continues to derive two-thirds of its revenue from the Lotus 1-2-3 spreadsheet despite the company's efforts to diversify its product line. The company reported earnings of $23.5 million for the 2nd qtr of 1990, more than twice earnings for the same period in 1989. Revenues for the quarter were $175.2 million. Lotus's 1989 revenue per employee was $188,000, compared to the industry average of $175,000.

Business planning, Employee selection, Layoffs, Layoff, Cost control, Financial Analysis Software, Cost Reduction, Hiring, Computer Software Industry

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Lotus predicts net may fall in 3rd quarter

Article Abstract:

Lotus Development Corp is forecasting lower sales and earnings in the 3rd qtr of 1990 despite a 2nd qtr 1990 financial report that shows net income at $23.5 million compared to $10.3 million in the 2nd qtr of 1989. Third quarter results may be lower than the 3rd qtr of 1989 as sales of the upgraded and varied versions of Lotus 1-2-3 slow. Competition among spreadsheet software publishers increases as Borland International Inc and Microsoft Corp, among others, intensify their marketing efforts. Lotus is countering this competition, partly through its lawsuits over the look-and-feel of spreadsheet software packages including Borland's. Industry and stock market analysts expect Lotus's stock prices to decline because of these announcements.

Forecasts and trends, Forecasting, Third Quarter, Second Quarter

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