Articles about Profit Warnings

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Outsourcery has ‘greater flexibility to pursue opportunities’ after £4m Voda loan

Loss-making cloud biz Outsourcery has managed to tap up Vodafone for a £4m loan under a partnership deal. After yet another successful effort of going cap in hand to investors, the still unprofitable outfit said £2.3m of the loan will be used for "general working capital purposes". The rest of the cash will replace its existing …
Kat Hall, 03 Jul 2015
The Register breaking news

UK IT firms make fewer profit warnings

ComputerWire: IT Industry Intelligence UK Software and computer service companies made far fewer profit warnings in the last three months of 2002, according to a study by accountants Ernst & Young. It said this suggests that companies' forecasting may increasingly be coming into line with "the external reality rather than …
ComputerWire, 07 Feb 2003
Peter Jones, Dragon's Den star

I'm in: Peter 'Dragons' Den' Jones launches bid to buy out Expansys

Dragons' Den star Peter Jones has launched a £6.1m takeover bid of his electronics retail firm Expansys. The entrepreneur made his move after increasing his share ownership in the AIM-listed firm from 41.4 percent to more than 50 per cent. Jones bought some 110.3 million shares to become the majority owner. This means that …
Jasper Hamill, 16 Jan 2014
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DSGi profit plummets 30%

DSG International (DSGi) saw annual profit tumble 30 per cent today, after the struggling electrical retailer was forced to cut prices to shift stock amidst a tightening of consumer spending. The firm, whose stores include Currys and PC World in the UK, Elkjop in Nordic countries and UniEuro in Italy, reported pre-tax profit and …
Kelly Fiveash, 26 Jun 2008

Intel shocks with profit warning

A month ago Intel CEO Paul Otellini didn't know "what impact the financial crisis will have on end customer demand". He does now and it's not good. Intel has cut fourth quarter revenue guidance by ten per cent, citing weakening global demand and PC supply chain inventory reduction. Instead of earning $10.1bn - $10.9bn in its …
Chris Mellor, 13 Nov 2008
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Tata flirts with Cable & Wireless Worldwide buyout

Indian company Tata Communications confirmed this morning that it was considering a cash offer to acquire troubled telco Cable & Wireless Worldwide. In a statement to the City, Tata said it was evaluating such a buyout of CWW - which is also being eyed up by mobile giant Vodafone. Tata has until the end of play on 29 March to …
Kelly Fiveash, 01 Mar 2012
The Register breaking news

Fujitsu cuts profit targets for the year

Fujitsu has joined its IT rivals and cut profit targets for the year, citing the slowdown in the US economy and falling growth in PC sales. The Japanese chip giant reduced its net income forecast by around 78 per cent to ten billion yen ($85 million) for the year ending March 31 2001. Sales are now expected to hit 5.53 …
Linda Harrison, 02 Mar 2001
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Compel issues profit warning

Compel joined the plethora of IT companies issuing profit warnings yesterday. The UK company warned that results for the year ending June 2000 were expected to fall materially below forecasts. It blamed a worse than expected slowdown in customers buying IT. "As the year 2000 date change draws closer it is becoming increasingly …
Linda Harrison, 29 Oct 1999
The Register breaking news

Vodafone faces profit warning

Vodafone is facing the prospect of another set of profit warnings after it admitted 12 per cent of its customers are "inactive" and haven't used their phones for three months. It also said that those still using their phones are spending less. Worldwide, eight million of its 83 million customers are "ghost" users. The blame of …
Kieren McCarthy, 26 Apr 2001
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Datrontech joints profit warning stampede

Datrontech Group's pre-tax profit will only reach half of market expectations for its first half, the company warned today. Profit for the period was originally estimated at about £4 million. But there will be a shortfall due to flagging demand in the European PC market in April and May. Datrontech joins a long list of …
Linda Harrison, 11 Jun 1999
The Register breaking news

Apple nudges out Exxon Mobil for top spot on Wall Street

Apple briefly shunted Exxon Mobil into the No. 2 spot on the New York Stock Exchange yesterday to become the most valuable company in the US. The oil giant was restored to the top of the pile at close of trading on Tuesday, which was another difficult day on Wall Street. Late last week America slipped from the much-desired ' …
Kelly Fiveash, 10 Aug 2011
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Troubled ilion sees last year’s profit turn into losses

ilion today turned in dismal pre-tax losses of over £3 million for 1998, blaming redundancy, management changes, and reorganisation costs. Last year, the troubled networking distributor posted a £6.1 million pre-tax profit but despite an increase in turnover for the year ending 31 December 1998, ilion saw this turn into a loss …
Linda Harrison, 26 Mar 1999
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Vulture culture bugs Intel profit future

Analysis The latest in a line of profit warnings from chip giant Intel was re-inforced when Cisco, too, announced its profits were unlikely to be as favourable as expected and announced it would slim its corporate butt by letting excess weight (staff) go. Although, at first sight both firms appear to have a dissimilar profile, there is …
Mike Magee, 12 Mar 2001

DSGi sharpens axe for 50 staff

Struggling electrical retail giant DSGi has told around 50 employees working at its business unit that they could lose their jobs. The company informed staff based at three sites in Borehamwood, Bury and Surbiton that the axe is hovering over workers at the reseller due to "challenging market conditions". "DSGi Business is …
Kelly Fiveash, 28 Aug 2008
The Register breaking news

UK tech companies buck recovery trend

ComputerWire: IT Industry Intelligence The number of UK companies issuing profit warnings in the first quarter of 2002 fell to its lowest level for 15 months, despite continued bad news from technology companies, according to a study by Ernst & Young. The study shows that the number of profit warnings fell by 39% to 91 …
ComputerWire, 09 May 2002
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PC World, Currys staff to be dumped in DSGi rescue plan?

Hundreds of PC World and Currys staff could see the job axe swing on Thursday (15 May) when the stores’ owner DSG International (DSGi) announces its latest trading statement and strategy review. DSGi is understood to be closing 200 of its 700 stores as well as considering switching its outlets to a new superstore format, …
Kelly Fiveash, 12 May 2008
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Microsoft adds RIM to its anti-Google axis

When Microsoft first burst on the mobile scene with the original Windows Mobile, its strategy was to work around the Symbian brigade by getting close to operators, via mainly white label phone-makers. Hence the rise and rise of HTC, on the back of huge market share in an OS that interested very few rivals, plus the special …
Wireless Watch, 08 May 2011

DSGi denies Electro World 'up for sale' rumours

Electrical retail giant DSGi has denied a report that suggests the firm has put its unprofitable European store chain Electro World up for sale. According to the Sunday Times, DSGi, which owns PC World and Currys in the UK and has a number of well-known electrical store brands throughout Europe, is in the process of selling off …
Kelly Fiveash, 10 Nov 2008

Computacenter MBO team says no new bid

The leaders of an MBO bid for Computacenter have rejected reports they are considering raising their bid for the struggling reseller. Sunday newspaper The Business reported yesterday that a group led by Computacenter’s founders Peter Ogden and Philip Hulme were preparing to raise their offer for the company to 270p to 275p per …
Team Register, 12 Dec 2005
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Non-execs reject Computacenter buy-out bid

Computacenter’s independent directors have turned down a bid by the reseller giant’s founders and senior management to take the firm private, the Daily Telegraph reported today. On Wednesday, according to reports, Sir Peter Ogden and Philip Hume and the rest of the bid team offered 255 pence per share for the shares in the …
Team Register, 02 Dec 2005
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Computacenter turns the corner

Computacenter insisted it is back on the straight and narrow yesterday following a tumultuous 2005. Interim results for the six months ended 30 June 2006 showed a dip in revenues - down to £1.11bn from £1.15bn in 2005 - but an increase in before tax profits which were up from £8.2m for the first six months of 2005 to £14.5m …
John Oates, 12 Sep 2006
The Register breaking news

Seagate in sales doldrums

Now Seagate joins the hard drive vendors' profit doldrums club. It blames weaker than expected demand for disk drives and price deterioration for desktop products for its failure to meet previous estimates. Q4 sales from all disk drive products will be around $100 million -– around six per cent -- worse than Q3. Earnings per …
Drew Cullen, 30 Jun 1999
The Register breaking news

Quantum Corp lowers sights on HDD shortage

Oh, dear. The profit warnings from component makers are tumbling out thick and fast, with Quantum Corporation's HDD unit the latest despatch from the battlefield. However, Quantum is a profit warning with a twist - the company is not blaming sluggish demand for the shortfall, but a 'specific component availability issue which …
Drew Cullen, 08 Dec 2000
The Register breaking news

Dell keeps the faith

Dell's third quarter financial results are on track. The company projects earnings of 15 to 16 cents per share, on revenue between $7.2 and $7.6 billion. CEO Michael Dell said the company's strategic, operating and financial position "is better than it's ever been". He also says it has benefited from customer confusion …
James Watson, 05 Oct 2001
The Register breaking news

Computerland UK upbeat (but cautious)

Computerland UK today reported that Q1 profits were up on the same period last year. In a trading statement read out at the corporate reseller's AGM, it announced "good year on year growth". But product sales are lower than last year "due to the general weakness in the market for IT hardware". Computerland is confident that …
Drew Cullen, 03 Sep 2001

Senior figures call for NHS IT audit

A group of IT academics have sent an open letter to the House of Commons Health Select Committee asking them to set up an independent audit of how the programme to modernise IT within the health service is going. The letter was sent to Computer Weekly and eventually put on its website here and here. The strongly worded letter …
John Oates, 11 Apr 2006
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S&P revises Nokia outlook

Ratings agency Standard&Poor's has revised its outlook for handset maker Nokia. S&P lowered the Finnish firm's rating from stable to negative because of a "marked deterioration of its performance and prospects". Nokia has made three profit warnings since April. The Finnish firm has suffered from its lack of a clamshell design …
John Oates, 27 Jul 2004
The Register breaking news

Nokia sees across-board drop but shares jump 5 per cent

Nokia has seen across-the-board drops in its third quarter results but beaten expectations and been awarded with a five per cent share price increase this morning. Sales were down nearly seven per cent to £4.42 billion; pre-tax profit down 21.8 per cent to £670 million; net profit down 17.7 per cent to £477 million; and …
Kieren McCarthy, 19 Oct 2001
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DRAMarama (Act IV)

The DRAMarama continues, with prices crashing below $6 in all three major world markets last month. North America saw the biggest price drop - the rolling average for contract prices on 128Mb DRAM memory chips fell five per cent to $5.76 in North America for the 30-day period ended February 23, according to figures by research …
Linda Harrison, 15 Mar 2001
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Take-over talk targets Newbridge

Newbridge Networks could become the target of a take-over bid in the wake of its falling share price and multiple profit warnings. There have been five profit warnings from Newbridge in the last eight financial quarters and its share price dropped to $28 7/8 this week, according to a report in the Financial Times. The lower …
Sean Fleming, 07 May 1999
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Compel buys Hire IT for £3m

Compel is buying rival IT rental firm The Brewton Group (which trades as Hire IT) for £3m cash from its own resources. For the year to 31 December 2004, Hire IT had rental revenues of £7.3m, operating profits of £300,000 and a loss before tax of £10,000 “after substantial interest payments to some of the owners of the business …
Team Register, 28 Jun 2005
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HP profits plummet 66 per cent

Hewlett-Packard has cut sales targets for the current quarter, while reporting a 66 per cent profit drop in Q2. The US vendor yesterday recorded net income of $319 million for the quarter ended April 30, compared to $935 million for the same period the previous year. Revenue dropped four per cent to $11.6 billion. HP blamed …
Linda Harrison, 17 May 2001
The Register breaking news

Acer to ditch OEM PC business?

Acer Inc. is considering dumping its OEM PC business. The Taiwanese technology star is suffering along with the rest of the industry from the slump in consumer spending on computers, and is thinking of stopping making PCs for other people in a bid to streamline. An Acer senior VP, Philip Peng, said the move had been suggested …
Linda Harrison, 14 Dec 2000

IBM – EDS: merger report dismissed

Reuters reported early on Friday, 5 March that Electronic Data Systems "was in talks to sell all or part of itself" to IBM. IBM and EDS spokespeople refused to comment on the report. EDS is most likely to dispose of its product lifecycle management software unit (PLM) and IBM is already a prominent player in this sector. The …
Datamonitor, 08 Mar 2004
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Allegations of fraud rock ilion

ilion is to instigate legal proceedings against an employee following the announcement of financial irregularities totalling some £500,000. The group issued a statement at 8am saying the board had discovered "an irregular transaction in the UK business which potentially could result in the Group incurring a loss of the order of …
Linda Harrison, 26 May 1999
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Lucent ‘severely impacted’ by Winstar bankruptcy

Lucent Technologies lost $3.69 billion in its second quarter, a figure it partially blamed on the demise of customer Winstar Communications. The loss for the three months ended March 31 2001 included $2.7 billion in one-time costs, such as 2,000 of the 10,000 job cuts previously announced. It compared to a net profit of $755 …
Linda Harrison, 25 Apr 2001
server room

C&W flogs US retail voice biz

ComputerWire: IT Industry Intelligence Cable & Wireless Plc plans to sell its US retail customer base to a subsidiary of Primus Telecommunications Group Inc for $32m, as part of the restructuring of its US operations to focus on data and internet services. Subject to approval by relevant regulatory authorities in the US, the …
ComputerWire, 17 Sep 2002
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IBM performs as expected; shares up

IBM has released its Q1 results and met expectations - not usually a cause for excitement, but considering the recent glut of profit warnings for IT companies, the news has seen its share price jump by up to 14 per cent. The IT giant announced a 9 per cent increase in revenue to $21 billion. Net income was up 15 per cent on Q1 …
Kieren McCarthy, 19 Apr 2001
The Register breaking news

Cisco's Borg-like acquisition spree may be curtailed

Cisco has missed its second quarter profit and revenue forecasts. The networking giant also trimmed expectations for its next quarter and predicted sales then be down five per cent on its revenues this quarter, which would mark the first time its revenues have declined between quarters in its 11 years as a publicly traded …
John Leyden, 07 Feb 2001
The Register breaking news

Eidos launches £50m rights issue after poor full-year results

Troubled games publisher Eidos has announced a £51.7 million rights issue, heavily discounted, in a bid to get some much-needed cash. The issue was announced at the same time as the company full-year results, which saw a pre-tax loss of £96.4 million from a profit of £49.3 million last year (£54.1 million went on goodwill) and …
Kieren McCarthy, 31 May 2001
The Register breaking news

Alcatel, Lucent mull merger

Alcatel has held talks with Lucent Technologies concerning a possible acquisition or merger of the two companies. According to a report in Wall Street Journal wider discussions flowed out of negotiations about the sale of Lucent's fibre-optic business to Alcatel, which debt-ridden Lucent values at $6 billion. The paper quotes …
John Leyden, 27 Apr 2001
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Channon ‘throws himself on sword’

Wayne Channon has resigned as chairman and chief executive of troubled networking distributor illion group plc. Channon, who founded the company in 1989 is reported as saying that he recognised it was "time to go" before deciding to take the honourable way out. And although he took full responsibility for, in his words, " …
Tim Richardson, 04 Dec 1998
The Register breaking news

Redundancies at Datrontech

More doom and gloom for Datrontech Group this week as it laid off 15 staff. Most of the job losses came in the components and storage divisions. Three sales and marketing staff and one purchaser were made redundant at Datrontech UK. Other job losses included two sales and marketing staff at Summit Peripherals, two IT support …
Linda Harrison, 11 Aug 2000
The Register breaking news

No one wants chips or PCs

The tech sector took another battering in the world's stock exchanges yesterday, sparking off a mild panic in markets, banks and overpaid analysts. It doesn't look good, demand for both chips and PCs are both said to be down, profit-warnings have become de rigeur and Rick Sherlund - Goldman Sachs' man - has lowered his estimates …
Kieren McCarthy, 08 Dec 2000
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Mulford quits as Datrontech CEO to start ASP

Mark Mulford has quit as CEO of UK distributor Datrontech to launch an Application Service Provider (ASP). The departure was announced as the company recorded pre-tax losses of £8.2 million for its year ended January 2 2000. This compared to profits of around £2 million the previous year. Sales were down 10 per cent or to £200.7 …
Linda Harrison, 19 Apr 2000
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Compromise fends off PNC Telecom collapse

PNC Telecom, the owner of the KJC mobile telecom retail chain, staved off collapse today after striking a "compromise" deal with a major shareholder. Geremy Thomas, former CEO, founder and owner of 17.62 per cent of the company, had called an EGM for today in an attempt to vote out the entire board - with the exception of the …
Drew Cullen, 07 Jan 2003
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Network Associates beaten up on stock market

Network Associates yesterday saw its shares take a battering due to a warning that first quarter earnings would fall short of analysts’ expectations. The US-based software security company also announced a $169 million adjustment to acquisition write-offs taken last year. Shares fell 26 per cent in anticipation of the …
Linda Harrison, 07 Apr 1999
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IT services firms should be ‘boring and profitable’

Sales in the UK IT services and software market grew less than ten per cent last year, according to a report out this week. The Ovum Holway report estimates revenue growth was 9.5 per cent for 2000, compared to 25 per cent in 1998. This is the first time growth has dropped below ten per cent since the recession of the early …
Linda Harrison, 04 Jun 2001
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Gerstner dodges questions on IT economy

Big Blue's big cheese Lou Gerstner dodged questions on the state of the IT economy today while trying to promote his company's latest venture. The CEO and chairman of IBM stood in front of the stars and stripes in the State of New York Executive Chamber office of Governor George Pataki. He waxed lyrical on the PC vendor's plans …
Linda Harrison, 11 Oct 2000
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United halves newmeejah spend

United News & Media is to halve its investment in newmeejah for 2001 and rename its online umbrella organisation as part of series of changes at the company. The monster media group blew £120 million propping up its online sector during 2000. Next year, it can only afford £60 million. It has also signalled its intention to …
Team Register, 15 Dec 2000