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E.piphany, Inc. (EPNY) Message Board

  • hpeter43 hpeter43 Feb 5, 2005 9:22 AM Flag

    A legacy of failure!!!!!!!!!!!!!!

    Let's look at the numbers!

    In 2001 EPNY booked $128,830,000 in revenue for the year and did $39,097,000 for Q1 of that year.

    In 2003 (when Karen took over the helm at mid-year), EPNY booked $96,132,000 million and did $22,511,000 for Q1 of that year. That represents a drop of over 25% in total revenue and first quarter drop of over 42%!!

    Under Karen's leadership 2004 as compared to 2003 ($79.3 million versus $96.1 million) has shown a drop of over 17%. More sigificantly is the drop going forward per Karen's guidance.

    For Q1 2005 Karen calls out for a $14 to $16 million revenue number. That represents a drop of 33% when compared to Q1 2003 ($22.5 million). When compared to 2001's Q1, it represents a drop of 62%!!

    If Karen were a Japanese CEO, she would either resign or quietly off herself. Instead as an American princess, Karen has no qualms about collecting her $525,000 per year, living large, and lopping the heads off of the little people at EPNY to lower the cost structure (as if that was the problem!).

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    • Let's look at the numbers!

      In 2001 EPNY booked $128,830,000 in revenue for the year and did $39,097,000 for Q1 of that year.

      In 2003 (when Karen took over the helm at mid-year), EPNY booked $96,132,000 million and did $22,511,000 for Q1 of that year. That represents a drop of over 25% in total revenue and first quarter drop of over 42%!!

      Under Karen's leadership 2004 as compared to 2003 ($79.3 million versus $96.1 million) has shown a drop of over 17%. More sigificantly is the drop going forward per Karen's guidance.

      For Q1 2005 Karen calls out for a $14 to $16 million revenue number. That represents a drop of 33% when compared to Q1 2003 ($22.5 million). When compared to 2001's Q1, it represents a drop of 62%!!

      If Karen were a Japanese CEO, she would either resign or quietly off herself. Instead as an American princess, Karen has no qualms about collecting her $525,000 per year, living large, and lopping the heads off of the little people at EPNY to lower the cost structure (as if that was the problem!).

      • 1 Reply to hpeter43
      • Let's look at the numbers!

        In 2001 EPNY booked $128,830,000 in revenue for the year and did $39,097,000 for Q1 of that year.

        In 2003 (when Karen took over the helm at mid-year), EPNY booked $96,132,000 million and did $22,511,000 for Q1 of that year. That represents a drop of over 25% in total revenue and first quarter drop of over 42%!!

        Under Karen's leadership 2004 as compared to 2003 ($79.3 million versus $96.1 million) has shown a drop of over 17%. More sigificantly is the drop going forward per Karen's guidance.

        For Q1 2005 Karen calls out for a $14 to $16 million revenue number. That represents a drop of 33% when compared to Q1 2003 ($22.5 million). When compared to 2001's Q1, it represents a drop of 62%!!

    • Time again for some quarterly comments on Epiphany's lousy results:

      Everything mentioned about senior management protecting their "high and totally unjustified salaries" is accurate. They will sacrifice their workers to cut expenses before they ever think about reducing their "high and totally unjustified salaries". They have taken this approach ever since 2001 with the first employee reduction plan.

      What to do? Not much until the institutional shareholders sue the BOD failling in their fiduciuary responsibilies to protect shareholder interests. This BOD is down to 6 directors who are probably buddies of R. Zamboni. I thought there might be at least 2 BOD who might have the kionnees to look after the stockholders interest. But if it is true that Karen is married to an Apple exec--forget that guy--he's in their back pocket as well.

      My recommendation? Since I don't have a dog in this fight--I would pursuade an interested party to get the SEC involved. A couple of phone calls from the SEC to the BOD might get their ass in gear. The SEC these days is not be very tolerent with companies ripping off stockholders as management burns down the $250M with their "high and totally unjustified salaries"

      Good luck to all--although I think we all know what the story will be 3 months.

    • I could tell you where she could get that salary but it might offend someone!!!

    • Nothng is easy in this world. Today's innovative products are tomorrow's toilet papers. That's why I think EPNY should be sold to a big player who is innovative, has a great vision and is capable of consolidate the CRM market. EPNY's CRM can be sold as a one suit of an innovative business product. Since top guys are incompetent to revive EPNY's business, my recommendation to board is to cut their annual salary to a sum of $1 and pay them commission in stocks when they finalize the sale of EPNY.

    • OK, I think you made your point.

      I agree that the Chairman should not take $1 more out of this business. I would favor that move and offer stock options.

      I dont have a problem with the CEO and COO salary. Their performance is another issue. Until large institutional holders raise hell I dont think much else will happen. I listened to the CC and it was poorly attended.

      I do have a problem with the stock performance grants given in October. This giveaway of company shares does little to incentivize management. Make them options and that puts management more firmly alligned with stock holders.

      What happened to the stock repurchase plan announced last quarter? Not one share repurchased. Well! Maybe we will see it now???

      I figured roughly at the end of the first quarter given an outstanding share number of 78 mil (per CFO in call) a loss of .12 per share and an increase in maint revenues for renewals that net cash will be about 3.07 per share. At year end 2003 we had 3.47 cash per share. Clearly, we are in trouble, although at this pace, the decay could take years.

      Karen needs to get serious about cost containment or growth. One or the other. If she doesnt believe she can grow the business then she should sell it now. As for being an investor, I will wait for a further drop. If it doesnt happen so be it. I wont chase a weak, apathetic story at this time.

      • 1 Reply to imd85
      • Good intelligent response!

        The real problem with their business is that they are marketing the SAME software product that flopped in 2003 and 2004. The chance for a surprising upside becomes more remote with the SAME FAILED SOFTWARE PRODUCT over succeeding years!

        So where does EPNY go from here? Given the fact that Karen refuses to cut management salaries and rework the company's business plan, the drain on that huge cash position will continue in years to come (or as long as Karen is there). I see no hope of Karen making any changes. Look forward to more bleeding over subsequent quarters.

        Rank & file employees will bear the brunt of Karen's cost cutting while the top dogs in management continue to party on.

 

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