Five and Under

[Patsy]

IVTA, down over 40% on this news that doesn't look all that bad to me, low volume, tightly held by insiders, looks like a MM walkdown so it might be hard to get it back up, on my radar.

Datek Online. Apply NowRelated Quotes

IVTA
4
-3

delayed 20 mins - disclaimer



Friday April 6, 1:54 am Eastern Time
Press Release
InfoVista Announces Preliminary Unaudited Third Quarter Revenues
PARIS--(BUSINESS WIRE)--April 6, 2001--InfoVista (NASDAQ: IVTA, Nouveau Marche: 7667), a software solutions provider that monitors, analyzes and reports on the performance, availability and quality of service of Information Technology Infrastructure (ITI), today announced that its preliminary unaudited estimates of revenue for the third quarter ended March 31, 2001 are expected to be approximately EUR 7 million, which is comparable to the second quarter of fiscal year 2001, and representing a projected increase of approximately 120 per cent over the third quarter of fiscal year 2000.

The slowdown of the US economy has resulted in a lengthening of the order cycle. As a result, a few customer contracts that the Company expected to close before the end of the quarter have been delayed. The 26% growth in European revenues over the prior quarter, together with sales generated by InfoVista's newer international units, notably in Asia, were insufficient to offset these delays.

``We continue to see growth from service providers, who are still focusing on value-added services, and our customer win rate remains very high. Customer insistence on improved Return on Investment on network infrastructure is evident in the demand for our software. But in the US, we are also clearly seeing a lengthening in the investment decision-making process. Should this situation persist for the balance of our fiscal year, we have sufficient leverage to adjust our cost base accordingly and meet our previously stated target of reaching pro forma profitability (USGAAP) within the next two quarters. Our financial position remains strong, with no debt and a current cash position of approximately EUR 63 million, or EUR 3.30 per outstanding share at the end of quarter 3,'' said Alain Tingaud, Chairman and Chief Executive Officer of InfoVista.

Note:

InfoVista will host a teleconference today at 11:30 a.m. (EDT)/4:30 p.m. (UK)/5:30 p.m. (Continental Europe). To dial into the call, please use the below numbers:

From the US: [phone] From the UK: 0800 027 1111 From Continental Europe: 44 8700 559 384

A replay of the teleconference will be available shortly after the end of the conference call for one week at the below numbers:

From the US: [phone], Passcode 593124 From the UK: 0800 027 0225, Client Identity #: 593, Passcode: 124# From Continental Europe: 44 141 566 8866, Client Identity #: 593, Passcode: 124#

InfoVista will issue its final third quarter results and hold a conference call for analysts and investors on April 24, 2001.

About InfoVista

InfoVista is a world-leading provider of Service Level Management software solutions. InfoVista designs, develops and markets technologically advanced software which monitors, analyzes and reports on the performance and quality of services of information technology infrastructure (ITI), including networks, servers and applications. InfoVista markets primarily to telecommunications companies, including British Telecom, France Telecom, and Cegetel; Internet service providers including UUNET and Wanadoo; and other IT-intensive organizations such as financial services companies including AXA, First Union Bank, Fleet Capital and Banque de France, and other multinational companies like Nestle and Shell. InfoVista stock is traded on the NASDAQ under the ticker symbol IVTA and the Nouveau Marche under the symbol InfoVista (CodeEuroclear 7667). For more information about the company, please visit www.infovista.com.

Cautionary Statement for Purposes of the ``Safe Harbor'' Provisions of the Private Securities Litigation Reform Act of 1995: All statements other than historical facts included in the foregoing press release regarding the Company's business strategy are ``forward looking statements.'' Forward looking statements include, but are not limited to, statements in which words such as ``expect,'' ``see,'' ``anticipate,'' ``intend,'' ``plan,'' ``believe,'' ``estimate,'' ``consider,'' or similar expressions are used. Forward looking statements are not guarantees of future performance. They involve risks, uncertainties, and assumptions, including, without limitation, risks and assumptions, uncertainties arising from the rapid evolution of our markets, competition, market acceptance of our products, our dependence on spending by the telecommunications industry and our ability to develop and protect new technologies. For a description of other factors that might affect our actual results, please see the ``Risk Factors'' section and other disclosure in InfoVista's Registration Statement on Form F-1 as filed with the Securities and Exchange Commission. The Company's actual results and stockholder values may differ materially from those anticipated or expressed in these forward looking statements. Many of the factors that will determine these results and values are beyond the Company's ability to control or predict. Readers of this press release are cautioned not to put undue reliance on any forward-looking statement. The Company undertakes no obligation to publicly update these forward-looking statements, whether as a result of new information, future events or otherwise.

InfoVista is a registered trademark of InfoVista, S.A.


--------------------------------------------------------------------------------
Contact:

Philippe Ozanian
Executive Vice President, Investor Relations
[phone]
[e-mail]
- or -
Noah Schwartz
Taylor Rafferty (London)
[phone]
- or -
David Lowy
Taylor Rafferty (New York)
[phone]


Email this story - Most-emailed articles - Most-viewed articles


--------------------------------------------------------------------------------