Inprise issued one of its now regular profits warnings on Friday for the second fiscal quarter, blaming management changes during the three months for delays in sales cycles.
Delbert Yocam, the development tools supplier's chairman and chief executive, left the company in a surprise move earlier this year (see VNU Newswire, 2 April, 1999), and was followed out of the door by Kathleen Fisher, the firm's chief financial officer.
Inprise, which was formerly known as Borland, now expects to generate revenues of between $38-41 million, excluding a one time license fee payment from Microsoft of $100 million.
It also anticipates pretax losses of between $0.17-0.22, well below the First Call analysts' consensus estimate of losses of $0.12.
Dale Fuller, the company's interim president and chief executive, said: "Revenues were impacted by a longer than anticipated sales cycle of our core products. We believe that this was caused by the changes in management early in the quarter."
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