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Articles about Accounting

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Logicalis: World Cup and IBM kit drop-off hit us hard in H1

Excitable Brazilian firms initiated a network spending freeze during the World that led to a $50m drop-off in kit sales for Logicalis, the integrator’s parent company Datatec said today. Turnover for the first half of fiscal 15 ended August came in seven per cent below the same period a year ago at $714.4m, which when coupled …
Paul Kunert, 15 Oct 2014

Cloud? We prefer, er, reselling tech, say tech resellers

Good old fashioned kit and licence reselling remains the primary way local tech suppliers pay the bills, with IT services still accounting for less than a quarter of revenue generation. This is according to a Canalys survey, which probed 352 channel businesses across the globe to ascertain the impact that classic product sales, …
Paul Kunert, 24 Sep 2014

How to deal with server hogs: Throw them out of the frying pan and into the Solidfire?

Not content with eliminating unruly neighbours in cloud servers, Solidfire is bringing its QoS-focussed flash array tech to enterprises too. Up until a couple of months ago it had reached a 70:30 split between cloud service provider (CSP) customers and businesses. Now that's running at a 50:50 split. Marketing veep Jay Prassl …
Chris Mellor, 11 Aug 2014
Satya Nadella

Get ready for LAYOFFS: Nadella's coma-inducing memo, with subtitles

Microsoft CEO Satya Nadella has sent a six-page memo to the world warning of a company restructure at the end of the month. The open letter uses buzzwords and cliches to sugar-coat the news that he will tear up the Windows giant's approach to flogging devices and services. Instead, the biz will focus on building "productivity" …
Shaun Nichols, 10 Jul 2014
cloud

Sage moves into cloud with online SMB accounting package

Business software company Sage launched a new web-based accounting product today targeted at individuals and SMBs. The Newcastle-based FTSE 100-listed firm developed the software, which was built on the Ruby-on-Rails open source web application framework, as part of Sage's effort to focus on what its North European boss Paul …
Kelly Fiveash, 18 Jan 2011

Facebook pays half a billion dollars for firm that slaps ads on videos

Facebook has paid an estimated half a billion dollars to buy a video advertising firm called LiveRail. Facebook has not officially announced how much it paid for Liverail, but estimates have ranged between $400m and $500m - a huge chunk of change by anyone's standards. There was no word on the cash to stock mix that FB coughed …
Jasper Hamill, 03 Jul 2014
hands waving dollar bills in the air

Facebook haters, look away now: BABY SNAP site's profit is up 138%

Facebook shares have rocketed after the social network biz reported record-setting growth, revenue and margins as it wrung cash from hundreds of millions of mobile users. The Menlo Park ads website reported second-quarter revenues of $2.910bn on Wednesday, beating the $2.81bn Wall Street analysts had been expecting, and up 61 …
Jack Clark, 23 Jul 2014
Telephone

BT FON fail: Telco CHARGES customers for FREE Wi-Fi usage

Telecoms giant BT has admitted charging a number of customers for the traffic racked up by its FON services, which uses a portion of each customer's Wi-Fi connection to provide hotspots accessible to the public. A few weeks ago The Register reported that bungling cops in the grim north of England didn't understand the idea …
Jasper Hamill, 06 Aug 2014

CEO of Brit biz Phoenix plans to 'ram-raid' old friend, new enemy Cisco

The boss at Brit services provider Phoenix IT Group wants to "ram raid" former vendor partner Cisco. The UK biz is currently bulking out its portfolio, with Chinese networking firm Huawei Enterprise the latest addition. In the autumnal months last year, Cisco wrote to 1,000 firms across EMEA telling them it was withdrawing …
Paul Kunert, 11 Jul 2014
frustration_anger_irritation_annoyance pain

Restatements HURT. Just ask global mega distie Tech Data how it's going for them

The world's second-largest wholesale distributor of technology products, services and solutions, Tech Data, was not the first firm to restate its financial results – and it may not be the last. But in a post-Enron world, with the associated heavy controls and accounting rules introduced after that massive accounts fraud scandal …
Felipe Costa, 14 Aug 2014
Resident Evil zombie takeover

Pushdo Trojan outbreak: 11 THOUSAND systems infected in just 24 hours

A wave of attacks by cybercrooks pushing a new variant of the resilient Pushdo Trojan has compromised more than 11,000 systems in just 24 hours. Indian PCs have been most affected by the outbreak, but systems in the UK, France and the US have also been hit, according to security software firm Bitdefender. The Romanian firm …
John Leyden, 17 Jul 2014
management regulation2

Judge rules investors can sue Meg Whitman and HP over Autonomy

HP and its chief Meg Whitman will have to face claims from a shareholder class action lawsuit alleging the exec and her firm knew statements from Autonomy's management were misleading before the acquisition. US District Judge Charles Breyer ruled that investors can go ahead with claims against the company and Whitman, saying …
hands waving dollar bills in the air

Microsoft's Fast charged with 'accounting fraud'

Norwegian economic crime police have raided the headquarters of Microsoft-owned Fast Search and Transfer and charged the firm with accounting fraud. Police attorney Baard Thorsen told Reuters that evidence was being sought following allegations that Fast inflated its revenues prior to Microsoft’s $1.2bn buyout of the company in …
Kelly Fiveash, 16 Oct 2008

Come close, dear reader. Past those trees you'll see a non-Microsoft Nokia Oyj in the wild

Nokia – the Finnish networking firm, not the Microsoft division that sells low-cost mobes running Windows Phone – reported earnings for another difficult quarter on Thursday, yet showed signs that its operations are beginning to stabilize since punting its Devices and Services business off to Redmond. Net sales for the second …
Neil McAllister, 24 Jul 2014
Playground spring horse

Virgin Media sales are a bit flat under the Cable Cowboy's reign

Virgin Media has been part of Cable Cowboy John Malone's Liberty Global family for almost a year now. Yet the takeover hasn't boosted the UK telco's flat first quarter sales, which the City was told about this morning. Although growth in consumer and mobile revenue had rose, overall sales climbed a slender one per cent, to £1. …
Kelly Fiveash, 07 May 2014

Accounts probe stings IT distie giant Tech Data on the bottom line

The residual effects of Tech Data's accountancy blunder have emerged in the distribution goliath's figures for the first quarter of its new fiscal year. While the numbers published today show rising sales, profits – hit by a series of charges including a $12.2m cost related to the accounts cock-up – are well off the pace. Tech …
Paul Kunert, 29 May 2014
cloud

European Grid Infrastructure project condenses shared cloud

After a three-year project, the European Grid Infrastructure project has pulled the big red switch on its federated cloud, which it says pools the resources of academic iron in 19 EU countries. Drawing on the “academic private clouds and virtualised resources” of its members, the EGI Federated Cloud hosts a variety of OS images …
Columns of coins in the cloud

TV rudeboy and Outsourcery boss Linney joins Gov.UK SME panel

The government has enlisted the boss of an SME yet to win any business via G-Cloud to advise on ways to, er, oil the wheels of commerce for other small traders that have similarly found public sector contract success elusive. Dragons' Den star Piers Linney, joint head at AIM-listed, cloudy infrastructure biz Outsourcery, is the …
Paul Kunert, 29 Jul 2014
Red pen

Ex-state attorney general probes Tech Data CEO's sale of $2m shares

A firm of legal eagles is investigating whether distie giant Tech Data violated state or federal laws by making accounting errors that will wipe millions off its bottom line from recent years. Kahn Swick & Foti (KSF) is also probing CEO Bob Dutkvsky's offloading of $2m in his firm's shares earlier this month The US logistics …
Paul Kunert, 22 Mar 2013
Samsung logo

Say CHEESE: Samsung files patent for transparent camera

Korean electronics giant Samsung appears to be upping its efforts to crack the digital camera market after a patent filing emerged detailing designs for a compact camera with a completely transparent display. The filing with the Korean Intellectual Property Rights Service (KIPRS), seen by the Wall Street Journal, describes the …
Phil Muncaster, 20 Mar 2014
Motoroheadphones Motorizer

IPO? Don't know what you're talking about, says Spotify as it seeks IPO report guru

Spotify has advertised for a new "external reporting specialist", fueling rumors that the online music streaming biz is getting ready for a stock-market debut. In a job ad on its website, Spotify said it was looking for someone who could "prepare the company for international financial standards". The new recruit should act as …
management management3

Suitors line up to bid for cash-challenged NHS supplier

Top brass at Trustmarque Solutions are locked in talks with interested parties in a bid to sell the financially challenged biz this week – at least that is the plan. As exclusively revealed by us earlier this week, Dunedin, private equity backers of the York-based licensing specialist, claimed a change in revenue recognition in …
Paul Kunert, 04 Sep 2014
apothekerCHANGES2

Autonomy ex-moneyman: 'Visionary' Léo would have made HP merger work

The former chief financial officer of Autonomy has struck back against HP's claims that he defrauded it and its shareholders, arguing that HP's execs were solely responsible for bungling the company's $10.2bn acquisition of Autonomy in 2011. "HP's Opposition swells with bile, but its sound and fury signify nothing," lawyers for …
Neil McAllister, 12 Aug 2014
Microsoft Surface bomb

Clock ticking for Surface 3 as Microsoft preps for globo-launch

Given the losses Microsoft has racked up with the Surface "design point", the firm could be forgiven for drawing a line under the project rather than sending the third generation product to Britain. In a blog post, Microsoft this week confirmed the Pro 3 model will hit the streets in 25 countries including the UK on 28 August - …
Paul Kunert, 08 Aug 2014

Toshiba: We'll STAY in PCs! We'll just axe a few bods

Toshiba is the latest vendor to sound the warning alarm that all is not well in its PC business across Europe after scaling back regional offices and axing swathes of the workforce – just as the green shoots emerge. The UK and France ops, which have signed up as subsidiaries of the TEG corporation, will act purely as sales and …
Paul Kunert, 10 Oct 2014
Crystal ball via http://www.manoftaste.de/

Ericsson: There'll be over 9 BILLION mobe subscribers by 2019

Smartphones accounted for 65 per cent of the phones which sold in 2014 so far, and by 2016 the number of smartphones in use will overtake the number of basic feature phones. Of the 6.8 billion mobile phone connections in the world, 2.6 billion are mobile broadband. These stats come from the 6th Ericsson Mobility report. Every …
Simon Rockman, 04 Jun 2014
management management1

HP clinches six week extension on whether to join shareholders' suit against Autonomy

HP has said that it has made decisions about how to proceed with a case brought by its shareholders over the $8.8bn writedown for the acquisition of Autonomy – but it wants six more weeks to mull them over. The company was given until last Friday to think about recommendations by a committee of independent directors over the …
OCZ Vertex 4 256GB Sata 3 SSD

OCZ balances books, files results following 4-year omnishambles

SSD supplier OCZ Technology Group has finally filed its fiscal 2013 year results after having to correct the four previous years' results, showing how inadequate financial controls nearly caused the company to collapse. As it is, the consumer and enterprise SSD supplier has been facing a Nasdaq delisting and severe financing …
Chris Mellor, 09 Oct 2013
5_pounds_sterling_money_cash_moolah

WHOMP: Mega UK services player Phoenix IT falls back into the ashes

There was no sound of popping champagne corks at Phoenix IT Group this morning – just anguished cries coming from the boardroom as execs warned trading results are getting worse. The LSE-listed IT services player pushed out an interim Q1 2014 statement covering 1 April to 30 June, saying it "continues to be cautious" about its …
Paul Kunert, 01 Aug 2013

Boffins debunk red wine miracle antioxidant myth

Saddening news from US researchers who have demonstrated that quaffing red wine doesn't confer some of the alleged benefits attributed to the tipple, specifically the ability of the antioxidant resveratrol to "reduce deaths, cardiovascular disease or cancer". Resveratrol is found in red plonk, dark chocolate and some berries, …
Lester Haines, 13 May 2014
EE 4G banner

Small businesses discover the power of mobile apps

This article is sponsored by EE. Using your smartphone is about so much more than making a call. We can probably all remember the news reports a couple of years ago that said making a phone call is only the fifth most popular use for mobile phones. We are more likely to be using them to browse the internet, monitor social media …
David Gordon, 09 Oct 2014
management governance3

Clock ticking for IT distie Tech Data to end accounts probe

IT channel biz Tech Data has until September to get its house in order - because that's when it must file all its delayed financial reports to regain compliance with NASDAQ rules. The world's second largest tech distributor missed the deadline for filing its Q1 2013 results this month, some 45 days after the end of the quarter …
Paul Kunert, 20 Jun 2013

Nokia, new CEO Rajeev Suri, and BEELLIONS of euros burning a hole in the bank

Nokia Oyj begins a new chapter in its 149-year history today with new CEO Rajeev Suri – and a massive pile of cash in the bank. Last week the venerable Finnish industrial combine finally cast off the mobile phones division that made Nokia a household name across the world. What's left at Nokia today is an oddball combination of …
Andrew Orlowski, 29 Apr 2014
Ten... tablets

What mobile working can bring to every small business

This article is sponsored by EE. We can all recognise the enormous benefits going mobile can bring to a business. It means staff can be more efficient and responsive because they are more readily available and can work on the move. A small business can not only compete more easily with larger competitors but also appear bigger …
David Gordon, 07 Oct 2014
Tech Data

Tech Data: Computer 2000 brand taken out back and shot...today

The Computer 2000 brand is to be retired from today as the UK arm of Tech Data adopts its parent's name tag. The timing is interesting, given that C2000 – or the company formerly known as C2000 – is the subject of an ongoing investigation into vendor accounting improprieties. In a letter sent to vendor customers, seen by El …
Paul Kunert, 07 Oct 2013
Nimble Storage revenues Q2cy2014

Better be Nimble, tech giants, or mutant upstarts will make off with your sales

Hybrid array vendor Nimble Storage saw revenues grow strongly as storage giant incumbents were unable to deliver equivalent price/performance products. Revenues were $53.8m for its second quarter, ended, an 89 per cent increase year-on-year and beating its own guidance of $49m to $51m. There was a net loss of -$26.1m, 149 per …
Chris Mellor, 27 Aug 2014

Indonesia becomes MOST DANGEROUS place on the internet

Indonesia has had the dubious honour of supplanting China as the number one source of attack traffic globally in the second quarter, according to the latest stats from content delivery and security firm Akamai. The vendor’s State of the Internet report for Q2 found Indonesia accounted for 38 per cent of the world’s attack …
Phil Muncaster, 17 Oct 2013
The Register breaking news

Xero gets $NZ60m to account for

Kiwi tech entrepreneur Rod Drury’s accounting software company Xero has attracted a further $NZ60m from existing backers Matrix Capital and Peter Thiel’s Valar Ventures. The new cash is the third round of investment from the SaaS accounting outfit's US supporters and will go towards further expanding service, support and global …
BlackBerry logo

BlackBerry bottoms out: Vows to wow with new Berries

BlackBerry is staying in the handset market by the skin of its teeth by confirming two new models will arrive this year. The two new devices will be called BlackBerry Passport, a full touch device, and BlackBerry Classic, a QWERTY model designed to alleviate the awkwardness of BB10. The Passport and Classic will be released in …
Andrew Orlowski, 19 Jun 2014

Tech industry IGNORES customers: 'It's a supplier-driven world'

Tech manufacturers and their third party suppliers have profiteered by ignoring the real demands of SME customers in the pursuit of extra margin, or so says the CEO at a print hardware and services biz. The, er, revelatory piece of info was announced by Steve Francis, boss at print solutions company Danwood. Francis was …
Paul Kunert, 11 Jul 2014

Mega-distie Ingram Micro cops to plans to axe jobs, padlock offices

Ingram Micro has confirmed that the "delayering" exercise that it was cagey about a fortnight ago will indeed involve redundancies across European ops as it centralises back-office functions. The beefy tech wholesaler revealed earlier this month that it is trying to figure out ways to slash annual overheads by $100m, speed up …
Paul Kunert, 27 Feb 2014

'British Bill Gates' Lynch laments HP's Autonomy 'botch-up'

Mike Lynch, once billed as Britain’s Bill Gates, has lamented the handling of his former company Autonomy, saying Hewlett-Packard fumbled the acquisition. In a softball CNBC interview where he pushed his Invoke Capital venture fund, Lynch said Autonomy was the “next generation of software” until HP "dropped the ball". In …
Gavin Clarke, 16 Sep 2013

Probe into Autonomy allegations could take years - report

The federal probe into the alleged book-cooking at Autonomy prior to its acquisition by HP could take years to play out, according to reports. This will not be music to the ears of Mike Lynch, former CEO of Cambridge-based Autonomy, who stands accused, along with his fellow directors, of deceptive accounting irregularities that …
Paul Kunert, 12 Jun 2013

Telstra flogs phone books to Platinum Equity

Mere days after Telstra was rumoured to be selling its Sensis directory division for “as much as $AU3 billion” the carrier has closed the deal for the fire-sale price of $AU450 million. The sale puts 70 per cent of Sensis in the hands of US private equity firm Platinum Equity – putting a total valuation on the division at around …
Great Wall of China

China's CERT blames US for a THIRD of all attacks on Middle Kingdom PCs

China’s Computer Emergency Response Team (CNCERT) has claimed in a new report that backdoor attacks on systems jumped by over 50 per cent over the past year, and once again fingered the US as the main culprit in 2013. The CERT announced the findings of its latest annual report on its website. It claimed that 15,000 "hosts" …
Phil Muncaster, 31 Mar 2014

Lovers of Tor can now sprinkle Bitcoins on its developers as thanks

The folks behind web privacy tool Tor will now accept donations in Bitcoins. The project, which attempts to anonymize connections across the internet, will team up with payment biz Bitpay to allow users to donate using the crypto-currency; BTC contributions will be ultimately converted into dollars for the developers' coffers …
Shaun Nichols, 18 Dec 2013

Tech distie Tech Data tears up last THREE years of profit numbers

IT distribution giant Tech Data has ripped up its financial results for the last three years after discovering errors in its UK subsidiary's accounts. The company revealed this morning it will recalculate the figures and publish new reports as a result of uncovering mistakes in "vendor accounting" by its Brit biz Computer 2000 …
Paul Kunert, 22 Mar 2013
hands waving dollar bills in the air

New accounting rules to juice IT numbers

The US Financial Standards Accounting Board, which makes the rules that bean counters use to juggle the books, last week approved a new rule about revenue recognition for systems that could cause a brief bump in hardware sales for some IT suppliers based in the United States or using US accounting rules. FASB ruled on a number …
management regulation1

Google facing $5 BEEELLION antitrust fine in India

Google may be in the midst of securing a deal on its long-running search dispute with the European Union, but it’s still facing a possible $US5bn (£3bn) fine from the Competition Commission of India (CCI) over allegations it has abused its market leading position in the internet search space. Local laws state that the CCI can …
Phil Muncaster, 10 Mar 2014
channel_teaser_exit

Chief leaves Brit IT giant Phoenix after just 15 months

Phoenix IT Group chief exec Dave Courtley has quit the firm after less than 15 months in the role, the LSE-listed IT services company confirmed this morning. The former Fujitsu Services bigwig rocked up at Northampton-based Phoenix in July 2011 replacing long-serving boss Nick Robinson, who stepped down after 18 years at the …
Paul Kunert, 04 Oct 2012