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  • NetManage’s Losses Grow as Sales Decline in the First Quarter

    May 29, 2007 Timothy Prickett Morgan

    While NetManage, a maker of host connectivity and legacy application modernization tools for i5/OS and mainframe servers, managed to close some high-profile deals in the first quarter ended March 31, the company nonetheless saw revenues fall off, pushing NetManage into a loss.

    NetManage, which has resisted the temptation to be acquired so far and which remains a publicly traded company, reported sales were down by 9 percent in the first quarter to $7.7 million. While services fees rose by 2 percent to $5.9 million in the quarter, software license sales fell by 35 percent to $1.8 million. With costs rising to deliver those licenses and services and a restructuring charge of $2.2 million, NetManage widens its loss to $3.6 million, or 37 cents a share, compared to a loss of $745,000, or 8 cents a share, in the year ago quarter.

    “The first quarter is always the most seasonally challenging, and while service revenues increased from the prior year period, we were disappointed in license revenues for the quarter,” said Zvi Alon, chairman, president, and chief executive officer at NetManage in a statement accompanying the financial results. “During the quarter, we consolidated our research and development activities to Israel, which we believe will result in significant future cost savings.” He added that the company was focused on boosting sales and improving operating efficiencies to move back into the black.

    NetManage exited the quarter with $28.9 million in cash and equivalents, a little bit more money than it had at the end of 2006.

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    NetManage’s First Quarter Disappoints



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    Tags: Tags: mtfh_rc, Volume 16, Number 21 -- May 29, 2007

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TFH Volume: 16 Issue: 21

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    Table of Contents

    • IBM Announces New HMCs for System p and System i Servers
    • Big Blue Offers Free Monitoring to Server Customers
    • IBM’s First Power6 Box: A Glimpse Into System i 2008 Edition
    • IDC Projects Disk Capacity to Grow, But Revenues to Flatten
    • Virtualization, Consolidation Drive Server Sales in Q1
    • InfiniBand Finds Its Place in the Data Center
    • IBM Offers Upgrade and Trade-In Promotions to Bolster System i Sales
    • Magic Software Boosts Revenues and Profits in Q1
    • The X Factor: Small Is Beautiful
    • NetManage’s Losses Grow as Sales Decline in the First Quarter

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