JetForm Turns In Another Loss With Y2K Woes

Updated 5:32 PM ET August 25, 1999By Susan Taylor

OTTAWA (Reuters) - Year 2000 remains months away, but worries over computer chaos continue to wreak havoc with software developer JetForm Corp., which reported a first-quarter loss of 3 Canadian cents per share Wednesday.

The Ottawa-based firm, which sells software that automates business processes, reported a net loss of C$630,000 on sales of C$23 million.

In the same period last year, JetForm reported a profit of C$5.7 million, or 29 Canadian cents per share, on sales of C$32.6 million.

The first-quarter results were boosted by a C$1.8 million gain from the May 20 sale of multimedia subsidiary Why Interactive to Ottawa-area firm Calian Technology Ltd.

JetForm has been hobbled by the Y2K bug, as customers delay purchases and instead focus their time and money on repairs.

In a conference call Wednesday afternoon, JetForm Chief Financial Officer Jeff McMullen said the firm will continue to see "choppy quarters" for the next six months.

"JetForm continues to endure a difficult environment," Chief Executive John Kelly said in a statement. "We expect the operating environment to be difficult for at least the next two quarters."

After JetForm reported a fourth-quarter loss of 26 Canadian cents per share June 23, two Canadian cents worse than consensus, the firm's stock took a nose dive. The next day, it drooped 11 percent and lost 80 Canadian cents to C$6.25 on the Toronto Stock Exchange. On Wednesday, JetForm shares dropped 5 Canadian cents in Toronto, closing at C$5 before the results were released.

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Ray

-- Ray (ray@totacc.com), August 25, 1999

Answers

where are the links to these stories please?

-- Super (Slfsl@yahoo.com), August 25, 1999.

Super, here's the link:

Link

Ray

-- Ray (ray@tottacc.com), August 25, 1999.