Another company feels the market impact of y2k remediationgreenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread
"Infinium, which makes software that links together key operations like payroll, manufacturing, and human resources functions, said it expected to post earnings of 5 cents per share in its fiscal second quarter, which ended in March. The First Call consensus estimate was 10 cents per share, the same as the company earned a year earlier.
The shortfall was blamed on lower-than-expected software revenue as companies hold off on spending so they can focus on fixing existing systems to avoid computer glitches at the end of the year.
The announcement follows similar warnings from software rivals PeopleSoft Inc. and J.D. Edwards & Co. . These companies had benefited in previous years from increased demand for their software, but that buying has been slowing down.
``Unfortunately, like our counterparts in the enterprise applications space, our software business continues to be impacted by a market that has been slowed as a result of Y2K preparations,'' Infinium Chief Executive Fred Lizza said."
-- Arlin H. Adams (email@example.com), April 02, 1999
Hats off to Fred Lizza!!! I think that is the first time I have heard anyone admit that the costs of Y2K actually affect their profits.
-- @ (@@@.@), April 02, 1999.