Articles about Cfo

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IBM is letting storage hardware revenues slip gently off into the night

Analysis <IBM's fourth quarter and full year 2016 results showed the now traditional storage hardware revenue decline, while all-flash array and software-defined storage revenues grew double digits. IBM's results announcement material said that storage HW revenues were down 10 per cent on the year. Our calculation is that they are thus …
Chris Mellor, 20 Jan 2017

DirecTV Now plagued with faults, but uptake not slowing

AT&T's freshly hatched DirecTV Now OTT streaming service is forecast by most industry analysts to hit around 1 million subscribers after one year, following its launch at the end of November, but here at Faultline Online Reporter we believe the service has the potential to take off on a much bigger scale – providing it can …
Faultline, 20 Jan 2017
A businessman in handcuffs

Ex-Autonomy CFO pleads not guilty to charges he inflated the company's value

The ex-chief financial officer of Autonomy, Sushovan Hussain, has pleaded not guilty to charges he inflated the price of his company's $11bn (£9bn) acquisition by Hewlett-Packard. It is the latest development in the ongoing legal spat after HP wrote down the acquisition by a staggering $8.8bn (£7.1bn) in 2012, a year after the …
Kat Hall, 13 Jan 2017

Google sends Titan broadband drones to the unicorns' graveyard

Being bought by Google X increasingly looks like a kiss of death: Alphabet has shuttered the Titan project which proposed hosting solar-powered broadband on high-altitude solar-powered drones. The move was first spotted by 9to5Google, which says staff at the division will be farmed out to its Project Loon (broadband …

That's the way the Cook, he stumbles: Apple CEO pay cut as sales tank

Peak Apple With Apple revenues down, and the normally docile tech press finally turning on the iPhone maker, top executives at the Cupertino giant – including CEO Tim Cook – took a pay cut in 2016. In its annual filing with the SEC, Apple Inc reported that its CEO was hit with a 15 per cent pay cut last year. Steve Jobs' protege logged …
Shaun Nichols, 06 Jan 2017
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Sphere 3D has had two offers to buy parts of its business

+Comment Sphere 3D, the Canadian company which owns Overland Storage and Tandberg Data, has had two offers for parts of its business. The perennially loss-making concern, which was previously Overland Storage, which bought Tandberg Data, has never recovered from the decline in tape automation products. It received a first offer, a …
Chris Mellor, 19 Dec 2016

Cloudy file-sharing cash rains onto Nasuni

Cloud storage gateway and enterprise file services startup Nasuni has had a funding round to grow its business further expansion in Fortune 500 and Global 2000 companies, meaning expansion outside North America. The startup says it has doubled the amount of customer data under its management to 12PB in the last 12 months. …
Chris Mellor, 13 Dec 2016
Violin Memory VIMM

No strings attached: Violin cuts CEO’s salary

Violin Memory has cut its CEO’s base salary from from $750,000 to $150,000 a year – although it's just for three months. The information is contained in an SEC 8K filing (PDF), which states: Effective December 1, 2016, Violin Memory, Inc. (the “Company”) and Kevin A. DeNuccio, the Company’s President, Chief Executive Officer …
Chris Mellor, 13 Dec 2016

Expedia support tech raided his CFO to rack up insider trades

Former Expedia worker Jonathan Ly has admitted to hacking his own chief financial officer and investor relations head to commit US$331,000 in insider stock-trading. Ly, 28, of San Francisco, pleaded guilty to securities fraud in a Seattle District Court and faces up to 25 years prison and a US$375,907 settlement including some …
Team Register, 09 Dec 2016

Violin Memory axes staff just before Christmas, gives CFO $150k bonus

Violin Memory is cutting staff while rewarding chief financial officer Cory Sindelar with a bonus to persuade him to stay for another two months. Merry Christmas, Silicon Valley style. Chief marketing officer Amy Love told The Register today: “Violin is resizing the company as part of its overall turnaround efforts. More news …
Chris Mellor, 02 Dec 2016

HPE UK preps the redundancy ride as Chrimbo looms

Cost-cutting at Hewlett Packard Enterprise's CSC-bound services business looks set to continue right up to the point it is sold in the spring, leaked documents have indicated. In a note to his staff this week, Maurice Mattholie, HPE UK and Ireland veep for IT Outsourcing – which part of the outgoing Enterprise Services (ES) …
Paul Kunert, 02 Dec 2016
ice hockey puck

HyperGrid's ex-ice hockey player evangelist wants to slot the puck

Analysis It’s said that hockey players wear numbers because you can’t always identify the body from dental records, or that someone went to a fight and a hockey game broke out. Kelly Murphy is a hard man, a Regina, Saskatchewan-born ex-professional ice hockey player, forced by injury to follow the puck off the hockey field and into an …
Chris Mellor, 02 Dec 2016
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Post-IPO Pure doing all right, says NVMe is the new flash

Pure Storage all-flash arrays continue to rise, with revenues up 50 per cent year-on-year in Pure's third fiscal 2017 quarter. Pure beat Wall Street estimates, and says it has achieved a near $800m run rate. It must be hoping for similar growth in its current quarter and, by its own reckoning, it could be a billion dollar a …
Chris Mellor, 01 Dec 2016
Ash loses his head in a still of the movie Alien. Copyright: 20th Century Fox

Qumulo gets head transplant

Qumulo CEO and co-founder Peter Godman is transitioning to a CTO role as Bill Richter is hired to be the new CEO and Presidenp. Godman, recent CTO Aaron Passey and VP Engineering Neil Fachan, all ex-Isilon execs, founded scale-out file startup Qumulo in 2012. Richter is another ex-Isilon exec. He left his president role at EMC …
Chris Mellor, 30 Nov 2016

Talend CEO: Profit? We're a few years off... But we're cash-flow positive

Interview Founded in France in 2005, Talend made its initial public offering on the NASDAQ in July, listing as a French company although it's now headquartered in Redwood City, south of San Francisco. It was only the fifth technology IPO of the year, raising questions as to how fruitful the listing might be. But Talend raised $94m, and …

Managed services biz hires 'forensic' beanies to review dodgy accounting

A bean counter and legal eagle are to pick over the financial blundering at managed service provider Redcentric, the London Stock Exchange-listed business has confirmed. The CFO quit last week following the discovery of fiscal errors that would result in sweeping write-downs of historic profits, with the cost of correcting …
Paul Kunert, 16 Nov 2016
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Kaminario's Dani Golan reaches for the sky

Profile Dani Golan stands on the roof of his Israeli headquarters and points out features of the scenery: an 8,000 year-old ruin here, an ancient trade route there, a modern highway alongside the building, a sign to Nazareth, and fighter jets taking off from a nearby airforce base with thunderous, sky-filling roars. Dani is …
Chris Mellor, 14 Nov 2016
A businessman in handcuffs

Former Autonomy CFO indicted in USA for misleading investors

Updated The long-running spat between HP and the company formerly known as Autonomy has taken another turn, with Autonomy's former chief financial officer Sushovan Hussain indicted in a San Francisco court last week. The move was immediately criticised by a collective of former Autonomy executives as the Department of Justice (DoJ) “ …
Two slices of toast

Violin Memory resembles toast

Comment February of 2014 saw Kevin DeNuccio appointed as Violin Memory's CEO. Then the shares were worth about $15. Today, 32 months later, they are worth $0.13 after a 4:1 reverse stock split and NYSE exit; so $0.0325 in "old money," with the firm now capitalized at $3.27m. Its shares have lost some 99.8 per cent of their value on …
Chris Mellor, 10 Nov 2016

Redcentric CFO quits after botched accounts discovered

The chief bean counter at managed services slinger Redcentric has left the business with “immediate effect” following the discovery of multi-year accounting misstatements that will cost a minimum of £10m to rectify. The London Stock Exchange-listed biz made the admission about fiscal errors to the City this morning, and the …
Paul Kunert, 07 Nov 2016
Funnel of cash. Credit: via SXC &ndash; http://www.sxc.hu/profile/Leonardini

CSC shows first growth in two years... after ploughing half a billion into takeovers

Sales at outsourcing and integrator basket case CSC are growing again – all it took was hundreds of millions of pounds worth of acquisitions. The New York Stock Exchange-listed outfit reported revenue of $1.87bn for the three months ending 30 September – its Q2 of fiscal 2017. This was up 7.16 per cent on a year ago and the …
Paul Kunert, 04 Nov 2016
Radbot teaser image by Damon Hart-Davis

Power to the (outsourced) people – globalisation starts small

Radbot Pleading poverty, we don't have huge quantities of cash to throw at the necessary elements of a crowdfunding campaign such as the main video and its fleet of videolets for social meeja channels. Yes, we're cheap. Or "efficient": quick, find me a CFO to make it sound better! So one way to get this material made is to have …
wrecked cargo ship abandoned on sea bay. pHOTO BY shUTTERSTOCK

Pivot3 appoints new CxO as revenues rocket

Pivot3 grew like crazy in its third quarter as the hyper-converged infrastructure boom carried on... booming. It grew revenue 105 per cent year-on-year, we're told, with 67 per cent from new customers, apparently. Jamie Lerner has been appointed Chief Revenue Officer, meaning, we suppose, he's responsible for all activities …
Chris Mellor, 02 Nov 2016
iPhone 7 Plus

Squeaky bum time for Apple: It hasn’t made enough iPhone 7 Pluses

Analysis Santa may have an empty sack this Christmas, crushing the dreams of fanbois (and fanfilles). Apple admitted yesterday it was unable to meet the demand for its iPhone 7. Six weeks after the launch, Apple’s own online store is still showing long delays for several configurations of the iPhone 7. These will continue into December …
Andrew Orlowski, 26 Oct 2016
Burning money, photo via Shutterstock

Verizon: Data center sale going nicely. Yahoo! bid? Not so much

US telecom giant Verizon says it has formally begun talks with Yahoo! on adjusting the terms of their merger. Speaking to analysts during the company's fiscal Q3 2016 earnings call, CFO Fran Shammo said that Verizon's lawyers had their first meeting with Yahoo! brass yesterday to discuss the breach of a half billion Yahoo! …
Shaun Nichols, 20 Oct 2016

Imagine a sad deflating balloon. There, that's IBM's servers, storage

Analysis IBM's Systems segment saw dismal revenues in its third quarter results, with declines in both servers and storage. Z System mainframes are benefiting from the Watson-style cognitive computing efforts and both all-flash and software-defined storage are looking up, like beacons of light in the gloom. It's worth stressing that …
Chris Mellor, 18 Oct 2016
Watson Power7 cluster. Pic: IBM

IBM's focus on cloud and software isn't novel – it's survival

IBM believes it is closer than ever to returning to overall revenue growth for the first time in more than four years. That's looking at the whole picture, though: while cloud and software are pulling in the right direction, the corporate goliath's remaining hardware operations are still looking pretty grim. Big Blue said …
Shaun Nichols, 18 Oct 2016

You've been hacked. What are you liable for?

Hacking is big news and we’re all susceptible. In the UK, hackers could face jail time under the Computer Misuse Act, but the question on many businesses’ minds will be where the liability lies if they are hacked. The list of successful mega breaches continues to grow; extra-marital affairs site Ashley Madison hit the …
Frank Jennings, 14 Oct 2016

It's executive whack-a-mole at Big Data replicator WANdisco

Sacked WANdisco CEO Dave Richards is back in post just seven working days after being ousted; the chairman of the board has now resigned along with another director, and also Erik Miller, the recently-appointed CFO. On September 29 CEO Dave Richards was fired at a breakfast meeting by non-exec chairman Paul Walker at London’s …
Chris Mellor, 07 Oct 2016

‘Inflexion point’ BlackBerry washes hands of hardware biz

Here’s your chance to design your own BlackBerry. BlackBerry today ended its 17-year adventure as a phone-maker with CEO John Chen announcing “a new strategic direction focussed on licensing our secure device software and the BlackBerry brand.” There will still be BlackBerrys – a new one is imminent - but BlackBerry won’t make …
Andrew Orlowski, 28 Sep 2016
Welders wearing protective clothing fixing welding and grinding industrial construction oil and gas or water and sewerage plumbing pipeline outside on site. Photo by Andrea Slatter/Shutterstock

British Gas wins pre-paid smart meter patent lawsuit

British Gas has won a patent infringement claim brought against it by Smart-Tech, the holder of a certain smart meter patent. Had BG lost, it would have had to pay out tens of millions of pounds in royalties. The case, heard in May in London's High Court, revolved around a Meter-Tech patent filed in the year 2000 titled “A …
Gareth Corfield, 28 Sep 2016

That's cold: This is how our boss told us our jobs are at risk, staffers claim

Shrinking Cisco Gold reseller Intrinsic Technology has put a bunch of staff across various departments at risk of redundancy amid an organisational restructure. Employees at the Merseyside-based company were last week ushered into one of three boardrooms where presentations were played simultaneously to sales, HR & support and …
Paul Kunert, 27 Sep 2016
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Violin hunts for elusive key to regrowth

Analysis The elusive hunt for renewal and regrowth at Violin Memory has moved into a new phase – with a product launch holding up sales, sales leadership change, and the CEO focusing on finding funding for the future. Violin has cleverly managed to avoid falling off a cliff despite falling sales revenues and investor despair. It …
Chris Mellor, 26 Sep 2016
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Intel drafts in troubleshooting veteran for CFO slot

Intel has hired veteran tech CFO and sometime troubleshooter Bob Swan to take over from long-time numbers supremo Stacy Smith. Swan, or to give him his full press release name, Robert “Bob” H Swan, joins from equity outfit General Atlantic, where he was an operating partner. Stacy Smith, “as previously announced, is taking a …
Joe Fay, 20 Sep 2016
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'We already do that, we’re just OG* enough to not call it DevOps'

At this point in the innovation curve for something like DevOps it’s fashionable to start asking “Where's the Return On Investment?” Answering that question is always tedious. For the hopeful, starry-eyed practitioner, spitting up the ROI figures is akin to the irrelevant water-carrying and wood-chopping trials imposed by a …
Michael Coté, 13 Sep 2016
Burning money, photo via Shutterstock

VMware sells Digital Fuel cost control code five years after buying it

VMware has sold vRealize Business Enterprise and IT benchmarking solutions, the financial management bits of its vRealize management suite, just four years after buying it. Back in 2011 VMware was bullish on what was then a company called Digital Fuel. The press release announcing the deal VMware's then veep and general …
Simon Sharwood, 13 Sep 2016
Samsung SUHD 5K TVs

Phones exploding in kids' hands, shares tanking – but it's not all good news at Samsung

Samsung is continuing to take a beating in the market as it staggers from the global recall of its Galaxy Note 7 handset. The Korean consumer electronics giant saw its stock price plummet 6.98 per cent on Monday to 1.46m Korean won per share. This resulted in roughly $15.9bn of value trimmed from Samsung's market cap on the …
Shaun Nichols, 12 Sep 2016
Michael Dell, photo: Dell

What's Dell brewing the day before its EMC mega-slurp? A latte money? Oh, a flat white

Dell has reported near-flat revenues for its second quarter of the year, up just 1 per cent from its position 12 months ago. The company pulled in revenues of $13.1bn in the three months to July 29, compared to just under $13bn this time last year. This generated an operating income of $63m, up from a loss of $103m 12 months …
Iain Thomson, 06 Sep 2016

Hey, uh ICANN. US govt here. You know we said we'd give you the keys to the 'net? Yeaahhh...

The US government has admitted its plan to move control of the internet's naming and numbering functions to a California non-profit next month may not move forward. In a letter [PDF] from the Department of Commerce (DoC) to ICANN sent August 31, the department's CFO gives the organization 30 days' notice that it may extend its …
Kieren McCarthy, 01 Sep 2016
Money laundering

'Fake CEO' Chinese chap cuffed in $54m fraud probe

Police in Hong Kong have arrested a Chinese man on charges of laundering the proceeds of an online robbery that netted millions of dollars. In January, Austrian engineering firm FACC – which makes aircraft parts for the likes of Boeing and Airbus – admitted that it had lost up to €50m ($54m) after someone impersonating the CEO …
Iain Thomson, 26 Aug 2016

Pure Storage notches up a 93 per cent growth rate. Not bad, not bad

Pure Storage grew revenues 93 per per cent year-on-year in its second fiscal 2017 quarter to a record $163.2m, achieving an annual run rate of $650m; the billion looks attainable. NetApp's all-flash array run rate is about $775m while EMC's is a past a billion dollars. The net loss was $59.6m, $4.2m less than a year ago and $3 …
Chris Mellor, 26 Aug 2016
Sprint

Pivot3 positions itself for possible IPO

Is an IPO being planned? Hyper-converged system supplier Pivot3 says it had record growth in the first half of 2016, with a 103 per cent revenue increase and more than 400 new customers, and has hired a new CFO. Bill Stover has been appointed Pivot3's finance head. Mike Dansby was the prior CFO, serving from June 2014 to July …
Chris Mellor, 13 Aug 2016
Hand holds green tea and sweetpotato soft serve ice cream cone. Looks delicious if you didn&#39;t know about the flavours though. Photo by Shutterstock

Bimodal IT: Let the backlash begin

Gartner defines Bimodal IT as: “the practice of managing two separate, coherent modes of IT delivery, one focused on stability and the other on agility. Mode 1 is traditional and sequential, emphasizing safety and accuracy. Mode 2 is exploratory and nonlinear, emphasizing agility and speed”. I find myself more than a little …
Dave Cartwright, 05 Aug 2016

Seagate inflates 12TB helium drives, floats them to IT bods to test

Backgrounder Seagate is seeing the storage market shift from client server to mobile cloud applications and storage environments. Although responding to this, it is encouraged by the capacity needs of the remaining PC client as well as significant growth in non-PC-client devices and applications. It talks of a new customer base that …
Chris Mellor, 03 Aug 2016
Man counts pounds and pence. Photo by Shutterstock

Post-Brexit spending freeze in UK is real, says enterprise distie titan

Arrow Electronics Inc’s Enterprise tech division in Britain was struck by delayed spending among customers following the outcome of the EU Referendum, the distributor’s chief bean-counter claimed last night. CFO Chris Stansbury estimated “late purchases and weakening of accounts” after the 24 June vote “negatively impacted our …
Paul Kunert, 03 Aug 2016
Colleague high fives in the office. Photo by Shutterstock

Why Big Business is usually last to the party

Big businesses tend to be exceptionally risk averse. There's a general reluctance to adopt new, bleeding-edge technology because the priority – understandably – is to be able to maintain productivity. Small companies can live with the occasional glitch in systems – a couple of dozen people without email for a couple of hours …
Dave Cartwright, 29 Jul 2016

Bezos bags bonkers bucks as almighty AWS astounds again

Amazon Web Services (AWS) is on a roll after closing a financial quarter in which its operating income more than doubled. Amazon as a whole posted a solid quarter, with net sales of $30.4bn, up from $23.1bn, and net income of $857m, up from $92m. Much of that was due to the success of the cloud computing business. For the Q2 …
Shaun Nichols, 29 Jul 2016
Google&#39;s Sundar Pichai, speaking at Google I/O 2015

Google, er, Alphabet takes on 10,000 more staff, banks more and more billions from ads

Alphabet, the holding company for Google and the Chocolate Factory's other concerns, has reported strong growth in the second quarter ending June 30, with revenues up 21 per cent from this time last year. Google made up the vast majority of this revenue, accounting for $21.3bn for the quarter, with the other parts of Alphabet …
Iain Thomson, 28 Jul 2016

Someone (cough, cough VeriSign) just gave ICANN $135m for the rights to .web

An unnamed organization just paid $135m for the rights to sell ".web" domain names. This is three times the previous record of $45m for .shop, and seven times the average auction price for top-level domains. The massive price tag has raised eyebrows in the domain name industry, not least because one of the companies taking …
Kieren McCarthy, 28 Jul 2016
Lady  standing on a hand with a megaphone shouting into mans ear

QLogic boosted profits 700% in a year. What's that chomping sound?

In its last quarter as an independent company, QLogic grew revenues 2.6 per cent and profits by 700 per cent in a year. Its future lies inside Cavium and it has to deal with a declining Fibre Channel business. Revenues of $116.4m were ahead of the year-ago $113.4m but down on the seasonally-higher prior quarter’s $119.4m. Net …
Chris Mellor, 27 Jul 2016