Nine months into the reign of Bob Finocchio, Informix appears to be on the way to recovery.
Revenues were up 12.1 per cent at $167.2 million for the first quarter of 1998, with a net profit of $4.9 million ? compared to a net loss of $144.2 million last year.
It is the second straight profitable quarter for Informix, which in all of 1997 lost $358.8 million (including a $108.2 million restructuring charge) on sales of $662.3 million.
Informix faltered last year when it overhyped its next generation Universal Server object-relational database. This lead to decreased sales of the company?s bread-and-butter Online Dynamic Server product. The company has since refocused on Online Dynamic Server, now renamed Dynamic Server, positioning the Universal Server as an add-on.
President and CEO Phil White stepped down in July. In November, the company admitted that accounting irregularities had lead to overstated profits and earnings, and was forced to restate its earnings for 1994 and after.
Informix shares fell 7.28 per cent on Friday, closing at $9.16.
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