Inprise/Borland's shares fell slightly on Thursday after missing analysts' expectations for its fiscal fourth quarter.
The struggling development tools supplier saw revenue fall by 5.5 per cent to $45.5 million from $48.1 million a year ago. It also turned in a net loss of $37.8 million or $0.64 loss per share, after a restructuring charge of $34.8 million.
This included a $29.7 million write-down related to the company's Silicon Valley facility, a $3.1 million charge for discontinuing the implementation of Oracle's enterprise resource planning applications in Europe, and a $3 million charge for severance costs.
Inprise/Borland made a net loss of $2.6 million in the same period last year. Excluding the charges, however, it would have turned in losses of $3 million or $0.05 loss per share. The First Call analysts' consensus had estimated losses per share of $0.09.
The company's share price fell 0.375 to close at $15.5.
Dale Fuller, the firm's interim president and chief executive, said: "The results indicate that we are making progress towards executing our plan to remain the number one independent provider of world class application development tools for all major platforms, including Linux, Solaris and Windows."
Early last year, Del Yocam, the firm's former chairman and chief executive, resigned along with its chief financial officer and vice president, Kathleen Fisher. Fuller was appointed to take temporary control.
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