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CyberMedia Exec Resigns; Firm Will Revise Earnings

March 13, 1998|KAREN KAPLAN | TIMES STAFF WRITER

CyberMedia Inc., a Santa Monica developer of automated service and support software for personal computers, said Thursday that it will revise its fourth-quarter results downward and that its founder, president and chief executive, Unni Warrier, has resigned.

CyberMedia also said it expects to report revenue between $5 million and $8 million for its quarter ending March 31, down significantly from the $16.5 million in fiscal first-quarter revenue a year ago.

The company said it would take an additional charge against earnings of between $6 million and $8 million for its fourth quarter, which ended Dec. 31. The company originally reported a fourth-quarter charge of about $4.6 million. The new charge will decrease CyberMedia's earnings between 31% and 42% from the $19.2 million reported earlier.

The announcement was made after the close of trading Thursday. CyberMedia shares fell 50 cents to close at $9.75 on Nasdaq.

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