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Actuate Corporation Message Board

  • zapmaster_the_kinq zapmaster_the_kinq Mar 13, 2009 12:03 AM Flag

    Richard, this is interesting

    BIRT is a good product but it is killing ACTU regular business. ACTU is shooting itself in the foot.
    Here is from 10-k again

    "We experienced declines in license sales across most of our sales regions including 22% or approximately $7.9 million in North America and 31% or approximately $5.2 million outside North America. Professional services revenues decreased 11% and was primarily the result of the continued increase in the adoption of BIRT-based projects by our customers which do not result in professional service revenues to the same extent as the Company’s traditional designer products."

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    • ZAP...if ACTU knew, it had problems,it did not have to do the tender , at all , then , they would not of had to pay $3.50...........It could have just waited , then , bought on the cheap, with the amount of holders that wanted to sell....without the tender, we may have gone under $2.00....way under....then, they would have bought on the cheap....true...

    • Q1 software revenues are really going to tell the story. I see no way they do $7m. Probably more like $5m. Time will tell.

    • ZAP.....Then, why was ACTU so willing to buy 60 mil worth of stock , when , they could have done nothing and bought share real cheap , based on the 83% proration, that would have tanked the stock , real low........They did not have to step to the plate....
      The 10K does raise alot of questions, but , the buy back , keeps me wondering, why they steped to the plate for 83%.....If I could answer that , it would help...

      • 1 Reply to richardtherings
      • <<Then, why was ACTU so willing to buy 60 mil worth of stock , when , they could have done nothing and bought share real cheap>>

        First, ACTU could not buy that many shares under $3. It tried to lower the tender offer, buy shares cheap but it made the big boys mad who forced ACTU to swallow…you the rest.

        Second, the tender offer was a very bad move overall. In downturn economy when you preserve the cash, ACTU borrowed money (paying interest on borrowing money) and bought shares that eventually go back to insiders and the market.

        Third, what is on plate for ACTU future? PerformanceSoft has many tough competitions. BIRT is taking away and destroying the ACTU main software and business. That will generate less revenue overall and much less the secure maintenance revenue. Overall revenue is going down 3 years in a row and license revenue is going down at a much higher speed of over 20% year over year. This is a disaster for a software company now in debt with little cash.