I just checked this board, then went onto the yahoo finance page, and what do I see. SJ and company announced late this evening, that Q3 losses will be less than expected, but revenues will be down as well. I have not quite figured out how to copy and paste articles from other web pages with my Netscape browser, so I encourage others to visit yahoo finance. In short, SJ says that EPS loss will be between .62 and .64, less than the First Call estimate of .65, but when they excluded restructuring costs for Q3 ( can you say layoffs ), then they expect loss EPS to be between 0.59 to 0.61.
The revenue numbers are expected off. I hope somebody else can verify this on their computer. I have not seen any posts regarding the Q3 numbers guidance from management.
If true, what I am getting out of this with the " rumored " layoffs, which appear to be accurate, then it would seem that management is serious about achieving profitability in Q2 of 2002. The main concern that I have is how many chiefs are we going to be left with. Are we going to continue to have 10 to 12 vp's or sr. vp's etc. for a $ 12 to 20 million company.
The revenue short fall, may demonstrate once again, the advantages of a subsription revenue model. I remember the CEO of Computer Associates being interviewed by FoxNews' Neil Cavuto, and stating that prior to their change to a ratable subsription revenue model, it was quite common for CA to book 60 % of their quarterly sales in the last week or two of a quarter, when their customer's were squeezing them.
Clearly, the 9/11 disaster has had a tremendous impact on our economy, and it looks like Clarus was not immune to it.
Regardless, tomorrow may see some gut wrenching times. I hope that the market saw that coming. How else can one explain a drop from 6.50 to 3.22 in two weeks.