Feeds

Borland disappoints again in Q2

CEO retooled as ex-CEO

  • alert
  • submit to reddit

Build a business case: developing custom apps

Dale Fuller gave up the CEO job at Borland Thursday as the company revealed a bad revenue miss in its second quarter which resulted in a major stock hit.

The software maker yesterday revealed that second quarter figures would not come in as expected. Preliminary figures show Borland's revenue coming in between $65m and $67m - well below an earlier forecast of revenue between $70m and $73m. CEO Dale Fuller is stepping down and will be replaced on an interim basis by Scott Arnold, an EVP and COO at Borland.

"I would like to thank Dale for his six years of service and his leadership during the initial stages of Borland's transition," said Borland Chairman William Hooper. "While we are disappointed with the second quarter results, we continue to see positive developments in demand for the company's ALM (application lifecycle management) products and customer success in Borland's largest ALM implementations."

Fuller will remain on Borland's board.

At the time of this report, shares of Borland were down close to 10 per cent at $6.05.

Borland expects to report full second quarter results on Aug. 2. It will post a loss of between 24 and 26 cents per share.

Borland attributed the shortfall to weaker than expected software sales with Europe being a particularly painful region. A stronger dollar and Borland's failure to close deals in Europe undermined previous Q2 forecasts, the company said.

In April, Borland issued a similar revenue warning for its first quarter. You don't make friends by dashing investors' hopes time and again.®

Related stories

Eclipse updates platform and projects
Intel ships 'multi-threading friendly' compilers
Borland shoots Peloton down roadmap
Borland open sources JBuilder
Borland to miss Q1 targets

Build a business case: developing custom apps

More from The Register

next story
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Amazon says Hachette should lower ebook prices, pay authors more
Oh yeah ... and a 30% cut for Amazon to seal the deal
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
Nintend-OH NO! Sorry, Mario – your profits are in another castle
Red-hatted mascot, red-colored logo, red-stained finance books
Sonos AXES support for Apple's iOS4 and 5
Want to use your iThing? You can't - it's too old
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
Chips are down at Broadcom: Thousands of workers laid off
Cellphone baseband device biz shuttered
Feel free to BONK on the TUBE, says Transport for London
Plus: Almost NOBODY uses pay-by-bonk on buses - Visa
Twitch rich as Google flicks $1bn hitch switch, claims snitch
Gameplay streaming biz and search king refuse to deny fresh gobble rumors
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.
Maximize storage efficiency across the enterprise
The HP StoreOnce backup solution offers highly flexible, centrally managed, and highly efficient data protection for any enterprise.