Open Text replaces president

Article Abstract:

Opent Text Corp., a software maker, has hired John Shackleton to replace its president, Brett Newbold, who was deemed to lack the needed management skills to help the company keep its fast growth rate. The company chose Shackleton, a former executive vice president of Oakbrook Terrace, IL-based Platinum Technology, for his experience in leading a larger firm, including his experience in making acquisitions. Tom Jenkins, Open Text CEO, said that they saw Shackleton as the one who could lead the software maker beyond the C$100-million-revenue and 1,000-employee mark. An analyst said that Newbold's disadvantage was that he was not immersed in Open Text's daily operations since the greater part of his working time is spent in California.

Comment:

Hires John Shackleton to replace president, Brett Newbold, who was deemed to lack skills to help co keep fast growth rate

Canada, Executive changes & profiles, Opent Text Corp.

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Teklogix's stock jumps 31% on strong profit report

Article Abstract:

Teklogix International Inc., a Mississauga, Ontario-based company, has seen its stock rise significantly after posting higher-than-expected earnings of C$3.9 million, or 28 cents a share, for the quarter that ended Sept 30, 1998. The amount represents a big improvement if compared with financial performance in 1997 for the same quarter when the company reported a loss of C$900,000, or 7 cents a share. The amount reported by the company also exceeded analysts' projections Teklogix International will report earnings of between 8 to 19 cents a share for the quarter. Revenues at Teklogix International for the same quarter reached C$42.3 million, up 37% from C$30.8 million in 1997 for the same period.

Comment:

Posts higher-than-expected earnings of C$3.9 mil, or 28 cents a share, for the quarter that ended 9/30/98

Sales, profits & dividends, Ontario, Teklogix International Inc.

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