From Yahoo Y2K news <:)=

MILWAUKEE, April 14 (Reuters) - Business management software provider Effective Management Systems Inc. on Wednesday reported a larger fiscal first quarter loss, citing customers' Y2K concerns, and said it implemented a cost-cutting program which includes employee layoffs.

Company officials were not immediately available to provide details of the program.

``The whole industry has come into a bit of a state of suspended animation, and buy decisions just aren't occurring at previous rates,'' said EMS President and Chief Executive Officer Michael Dunham.

``I believe much of it is Y2K-related in that many companies don't want to add manufacturing-software implementations onto their plates right now, because they're still coping with Y2K-compliance issues. Some also are experiencing hesitancy about the future direction of the whole economy, in part due to the unknowns about Y2K,'' he said in a statement.

EMS reported a net loss of $2.2 million, or 53 cents a share, for the fiscal first quarter ended February 28, 1999, compared with a year-earlier net loss of $1 million, or 26 cents a share. First quarter revenues fell to $7.5 million from $10.2 million for the first quarter of fiscal 1998. Software license fees dropped to $3.2 million from $5.3 million.

-- Sysman (y2kboard@yahoo.com), April 14, 1999

Answers

Stock market's still going up though .... and yet, overall, business is going down? Wonder when the market will "catch up (down ?) with the business cycle?

-- Robert A. Cook, PE (Kennesaw, GA) (cook.r@csaatl.com), April 22, 1999.