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Meru Networks CEO: 2014 was a year of Cs & Ds

Business went from bad to worse for troubled WLAN maker Meru Networks in calendar 2014: losses widened and sales shrunk, paving the way for a fresh round of workforce throttling. The NASDAQ-listed firm warned the view from its deck wasn’t pretty in Q4 prelims released a month ago, and it wasn’t wrong – turnover crashed 28 per …
Paul Kunert, 10 Feb 2015
Shop Direct Skyways House entrance

IBM cuts down Amazon with cloudy 10-year ShopDirect deal

IBM has landed a 10-year cloud and services contract with one of the UK’s biggest and most aggressive privately held firms. Shop Direct, the firm behind Very.co.uk and owner of the Littlewoods brand, will use IBM’s SoftLayer cloud. Financial terms of the contract were not revealed. Andy Wolfe, Shop Direct CIO, told The Reg …
Gavin Clarke, 9 Feb 2015
Crop of doctor with pen and clipboard

Capita lands spot on mega £5bn NHS commissioning deal

Outsourcing giant Capita is one of three major companies to be awarded a place on the £5bn Lead Provider Framework for Commissioning Support Services. Clinical Commissioning Groups (CCGs) will be required to re-procure many of their support services by April 2016 in order to comply with EU procurement law, which NHS England …
Kat Hall, 9 Feb 2015
ARMteaser

ARM grabs Dutch 'SSL of Things' biz Offspark

ARM has strengthened its security portfolio by buying Offspark, the company whose PolarSSL secure communications is widely used in Internet of Things devices. The purchase is not about organic growth for ARM, while the company isn’t giving out a figure for the value of purchase, a spokesman told El Reg it was well below anything …
Simon Rockman, 9 Feb 2015
Hitachi Ultrastar A7K2000

Hitachi's storage revenues: Not brilliant, but high-end gear helped – analyst

Analysis Hitachi pulled in more storage revenues in the last 2014 quarter than in its previous and year ago quarters, at least in local currency, but its mid-range was weak – implying its high-end Virtual Storage Platform (VSP) arrays did the business, says an analyst. Hitachi owns HDS, which sells Hitachi storage in every territory …
Chris Mellor, 9 Feb 2015
management strategy2

Computacenter will NOT replace UK MD Muller

Computacenter will not appoint a director replacement for UK managing director Neil Muller, who left at the end of last month to become CEO of now privately owned Daisy Group. This weekend, colourful CEO Mike Norris told 700 staff at the services-based reseller’s 2015 sales conference that his former general’s duties will be …
Paul Kunert, 7 Feb 2015

Symantec sees profits crash ahead of corporate divorce

Symantec’s latest financials bear all the hallmarks of a business whose dramatic bisection is causing some uncertainty for customers and channel partners. A cleaver will be driven through the security and storage business by the end of this year to create two separate publicly traded entities. The groundwork for this is well …
Paul Kunert, 6 Feb 2015

Hey biz – cut fraud with digital ID verification. Yes, like Verify – Maude

Building identity (ID) assurance systems into "customer registration processes" could help businesses cut the cost of fraud, a UK government minister has said. Francis Maude said the Cabinet Office is working with "like-minded organisations" to look into the potential for ID assurance services to be used more extensively in the …
OUT-LAW.COM, 6 Feb 2015
TwitterIPO

Has the world reached PEAK TWIT? Supplies of new Twitter users are drying up

Twitter finished off fiscal 2014 with a ripper fourth quarter in many senses, during which it doubled sales from the previous year - but the microblurt-based ads site gained fewer users than some investors hoped for. On Thursday, Twitter reported revenues of $479m for the three months ending on December 31, a 97.4 per cent gain …

Microsoft's Nadella: Congratulations on 12 months of not being Steve Ballmer

It’s Satya Nadella’s first year as chief executive of the world’s largest software company. What has happened during that time? My Reg colleague Neil McAllister listed the notable developments here earlier today. Over the past 12 months, we've seen Windows 10 as a preview; Office for iOS, Android and even HoloLens; a new …
Gavin Clarke, 5 Feb 2015

Sony Pictures claims 'Nork mega-hack attack' cost it just $15 million

The financial cost of the hacking attack that plagued Sony Pictures Entertainment last year was just a drop in the bucket compared to the movie studio's revenues for the quarter, the Japanese giant has said. In its third-quarter earnings forecast for the three months ending on December 31, Sony pegged the price of the security …
Sky 3D football

Sky bathes in cash - then adds FIVE BEELLLION to its debt mountain

Sky is successfully unbundling itself, or so it seems, and trying to fight off the twin assaults of telco giant BT breaking its live football stronghold in the UK and the emergence of over-the-top players such as Netflix. For the period covering the six months ended 31 December, the company formerly known as "BSkyB" had an …

Red-spattered Android figures sinkhole Sony's healthy financials

Santa was kind to Sony, with sales and profits rising in the final trading quarter of 2014. However, although the Japanese giant shipped 12 million phones in the period the mobile unit still weighs the group down, and further losses are expected as Sony withdraws from the Chinese mobile market. Sony's movie division also had a …

Arrow Electronics buys Computacenter tech disposal biz for £56m

It may be cold outside, but Computacenter (CC) investors have got a warm glow this morning – they are to receive a £100m windfall, partly financed by the sale of the tech disposal and asset recovery biz. The London-listed tech supplier last night revealed to the City the sale of RD Trading (RDC) for £56m in cash to the UK arm of …
Paul Kunert, 3 Feb 2015
RadioShack

Bankruptcy could see RadioShack close doors for good – report

Struggling electronics retailer RadioShack may not emerge from bankruptcy intact after all, sources claim. On Monday, Bloomberg reported that the cash-strapped firm may be preparing to cease all retail operations, citing anonymous sources familiar with the company's plans. Earlier reports suggested RadioShack was in talks to …
Money

Obama's budget packs HUGE tax breaks for poor widdle tech giants

President Obama's budget for 2016 includes a whopping tax break that US tech giants have been demanding – because it will let them bring trillions of dollars held in offshore accounts to America without running up huge bills. Under today's tax code, companies that earn money overseas must pay 35 per cent to Uncle Sam if they …
Iain Thomson, 3 Feb 2015

RM has been schooled: Sales fell by over £69m in fiscal 2014

The downward pressure on school budgets, the shuttering of the PC production line and the shift from reselling hardware sucked almost £70m in sales out of education supplier RM last year. The company reported turnover of £202.5m for the fiscal 2014 ended 30 November, down more than 22.5 per cent year-on-year, with the Education …
Paul Kunert, 2 Feb 2015
myDLink Home Monitor HD camera

Chipzilla Intel gulps down 'Internet of Things' chip unit Lantiq

Chip giant Intel has snapped up German network chipmaker Lantiq for an undisclosed sum as part of its plan "to make everything smart and connected". Lantiq, which holds more than 2,000 broadband comms patents, is expected to boost Intel's move into the "connected home" and "intelligent network" market. It is the latest move by …
Kat Hall, 2 Feb 2015
Young hipster man wearing hat, suspenders, bow-tie and fake-looking tattoo-sleeve. Image via shutterstock

Bosch boss wants more Bongs

The chief executive of Teutonic multinational engineering and electronics titan Bosch wants German industry to be more like Uber. The high-tech industrial group earned €48bn in 2014, employs 290,000 people, and spent €4.7bn on R&D. By contrast, Uber has received $4.9bn in funding so far, the bulk of which followed a $258m …
IBM CEO Ginni Rometty

Tough at the top: IBM CEO Ginni Rometty troughs $10 MEELLION+

It may not be the best time to be one of the great unwashed at IBM but it certainly pays to be on the exec team, particularly if your name is Virginia Rometty. At a time when Big Blue is cutting its cloth according to the new era of cloud, mobility, social, analytics and security by chopping thousands of job, the CEO got a …
Paul Kunert, 2 Feb 2015

We told you so! Daisy Group slurps up Damovo UK

Daisy Group has confirmed what our readers already knew – it has wolfed down unified comms specialist Damovo UK in its first deal since going private again less than a fortnight ago. West Sussex-based Microsoft and Cisco Gold badge holder Damovo is the former enterprise sales and services division of Ericsson. “With strong …
Paul Kunert, 2 Feb 2015
eBay

Crackdown on eBay sellers 'failing to display' VAT numbers

Blighty's Trading Standards has reported more than 200 non-EU sellers to eBay for failing to display VAT numbers – a figure thought to "barely scratch the surface" of traders breaching the rules, El Reg can reveal. Under e-commerce regulations, a VAT number must be easily, directly and permanently accessible. As an intermediary …
Kat Hall, 2 Feb 2015

Chipotle insider trading: Disproving the efficient markets hypothesis

Worstall @ the Weekend We had a distressing little incident here recently among the commentards over the meaning of the efficient markets hypothesis. So I'll explain what it is, using a current little story to prove that one version of it must be wrong as well. That little efficient markets hypothesis (EMH) incident was an insider trading case …
Tim Worstall, 1 Feb 2015

QLogic hits all-flash bullseye, doubles profit

QLogic is smiling, and so it should, with revenues and profits growing, and all-flash arrays, where it has host server connectivity dominance, blooming too. The glory days might just be coming into sight again. Revenues for its full-year 2015 third quarter were $140.2m, 10 per cent higher than the previous quarter, and a chunky …
Chris Mellor, 30 Jan 2015

Emulex ends seven-quarter run of losses

+Comment After seven straight quarters of losses, Emulex has made a $4.3m profit in its second financial 2015 quarter – but that performance might not be repeated next quarter. The profit was better by far than the $4m loss a year ago and the $700k loss in the previous quarter. Revenues were $111.1m, above guidance but still 9.7 per cent …
Chris Mellor, 30 Jan 2015
Shot of D-Wave's 16 qubit chip

Quantum of Suspicion: Despite another $29m, D-Wave doubts remain

Controversial quantum computing venture D-Wave Systems has scooped $29m in lovely fresh cash, courtesy of investors, despite lingering doubts about whether what it offers can be considered "quantum". This is D-Wave’s tenth round of funding from 14 investors, bringing total investments to fairly hefty $174m. D-Wave didn’t …
Gavin Clarke, 30 Jan 2015
money_yen_dollar_pound

Fujitsu slapped down in Land of the FALLING YEN

Revenue dropped 2.4 per cent at Japanese IT giant Fujitsu to ¥1,171.5bn (£6.6bn, $9.9bn) in the firm's third-quarter results, when compared with the same period last year, although a fall in the yen propped up non-domestic revenue levels. Sales in Japan took the biggest hit, falling 8.6 per cent due to a decline in shipments of …
Kat Hall, 30 Jan 2015

Mobe-hungry BT's sales slip over Xmas amid EE buyout silence

Sales at one-time state telco monopoly BT fell by three per cent to £4.48bn in its third quarter, the company announced today. The decline, as compared to last year's Q3 revenues, reflects a "modest" decline in BT's business revenue with more customers moving to data and VoIP services, it said. The company also blamed foreign …
Kat Hall, 30 Jan 2015
Amazon CEO Jeff Bezos

Amazon, flush with cash, says it will let you peek inside AWS' pants

Amazon left smiles on investors' faces on Thursday following a fourth-quarter earnings report that trounced analysts' estimates. While Wall Street was expecting to see earnings of $0.17 per diluted share, the actual figure came in at $0.45 per share – which, while not as good as the $0.51 per share that Amazon earned in the …
Neil McAllister, 30 Jan 2015

Google's latest letdown: Simply not enough billions since October

Google's coffers swelled once again in the fourth quarter of its fiscal 2014, with revenues hitting $18.10bn, a 15.3 per cent year-on-year increase. The figures for the full year to December 31 were similarly encouraging. Revenues for all of fiscal 2014 amounted to $66bn, which was 18.9 per cent higher than 2013's sales. Net …
Neil McAllister, 30 Jan 2015
Cyanogen

Microsoft 'showers gold' on anti-Google Cyanogen and its Android alternative

Microsoft will invest in alternative Android firmware startup Cyanogen, a report claims. Citing anonymous sources, the Wall Street Journal reported on Thursday that Microsoft is slated to become a minority investor in an approximately $70m funding round that will see Cyanogen valued "in the high hundreds of millions." The …
Neil McAllister, 29 Jan 2015

EMC reports mixed results, fingers axe: 'Reduction in force' planned

+Comment Storage giant EMC has announced its plans to lay off an unspecified number of staffers in Q1 and said in an SEC filing that it would record restructuring charges in the range of $130m to $150m. In the final few months of last year, EMC increased its revenues by $1bn, quarter on quarter, with Pivotal and VMware growing strongly, …
Chris Mellor, 29 Jan 2015

Cloud storage upstart boasts of swollen biz, hires the CFO who sold Archivas

Comment Cloud storage gateway startup Nasuni reports that it experienced 300 per cent growth in 2014* and has just recruited a CFO who helped sell the founder's previous company – Archivas – to HDS for $127m in 2007. Nasuni has recruited Scott Dussault to be its combined CFO and COO, saying he's experienced at scaling a company for fast …
Chris Mellor, 29 Jan 2015
Stormy Dover. Pic: Phil Houghton

CommVault CEO: Quick, throw me some more sales reps

Data protection and archiving vendor CommVault is in a profits hole and management hasn't been able to stop digging yet. Profits of just $3m in its third full-year 2015 quarter were only two per cent of revenues, after being 4.3 per cent in the previous quarter and five per cent a year ago, when revenues of $153.3m were slightly …
Chris Mellor, 29 Jan 2015
axe_channel_teaser

Citrix: Hmmm, profit down 30%? Right. 900 HEADS WILL ROLL

Hundreds of workers at Citrix Systems are to be shown the door to counter nose-diving profit and boost the R&D pot. The purveyor of virtualisation, networking and cloud infrastructure stuff last night rolled out results for the three months ended 31 December and sales were up six per cent to $851m – analysts had forecast $844.3m …

Shouty investor Elliott looms over software veteran Informatica

+Comment Elliott Management, the activist investor with its hooks into EMC, appears to have settled on Informatica as its next likely target for shareholder gains glory. It's the usual deal of building a holding (eight per cent in this case), analysing the company's business, speaking to the board, and then writing a letter to management …
Chris Mellor, 29 Jan 2015
Barack Obama in the Oval Office

Revenues dip at CGI Group: It was Obamacare that did it

Revenue at Canadian outsourcer CGI Group dipped by four per cent in the first quarter of 2015 to $2.5bn (£1.7bn), compared with the same period in 2014. Meanwhile earnings rose by 24 per cent to $236m (£156m). CGI attributed its first-quarter revenue drop to a one-off spike from its Obamacare IT contract last year. The contract …
Kat Hall, 29 Jan 2015
Angry old man

Your gran and her cronies are 'embracing online banking' – study

Online banking has seen a boom among the older generation, with nearly 2.3 million aged between 70 and over 100 years old now using internet banking, according to figures compiled by the British Bankers’ Association (BBA). The BBA said more than 450,000 customers over the age of 60 are using banking apps on smart phones, iPads …
OUT-LAW.COM, 29 Jan 2015

Does Big Tech hire white boys ahead of more skilled black people and/or women?

Worstall on Weds (on Thurs) I've been watching with some amusement a little story about Pinterest noting that it's got a user base that leans heavily female. It's doing the rounds as the company thinks, well, it would be nice to be stuffing men full of ads as well (when it actually starts slinging ads) so, umm, why don't we go out and try and find some …
Tim Worstall, 29 Jan 2015

Facebook's mobile ad bonanza brought it record returns in 2014

Facebook finished the best quarter and the best year of its history on December 31, with its latest earnings report showing record annual revenues of $12.47bn for its fiscal 2014, up 58 per cent from 2013's haul. Revenues for the fourth quarter were $3.85bn, a 49 per cent increase over the same period a year ago. That figure …
Neil McAllister, 29 Jan 2015
Qualcomm

Qualcomm Snapdragon 810 CPU dumped from flagship smartphone

Qualcomm reported record revenues for the first quarter of its fiscal 2015 on Wednesday, but the mobile chipmaker warned investors that it's still struggling to make headway in the all-important China market. The San Diego, California company reported net income of $1.97bn for the three months ending on December 28, which beat …
Neil McAllister, 28 Jan 2015
Bloody Serial Killer Shower Curtain

Juniper in the red as product biz bleeds sales in 'challenging' Q4

Troubled tech plumber Juniper Networks ended 2014 on a low as it swung into loss, and reported declining product sales, with the security portfolio looking particularly unloved by customers. The New York-listed maker of switches and routers last night reported sinking revenues of $1.1bn for calendar Q4, down 13.4 per cent year- …
Paul Kunert, 28 Jan 2015