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Informix Warns of Loss

September 20, 2000|Bloomberg News

Informix Corp. warned that it will post a loss in the third quarter of 4 cents to 8 cents a share, compared with forecasts of 2 cents, and said it's splitting into two companies in an attempt to boost sales and profit. Its chairman and chief financial officer also resigned. Informix said it will form one company for database programs and another to provide electronic-commerce software that works with rival databases. It also plans an unspecified number of job cuts, in addition to the 10% work-force reduction it announced last month. The restructuring will result in charges of $75 million to $90 million in the third quarter. Chairman Robert Finocchio, who resigned effective Monday, will be replaced by Chief Executive Peter Gyenes. CFO Yon Yoon Jorden will leave next month and be replaced by Jamie Arnold, vice president of finance and operations for the Americas, Informix said. Shares of the Menlo Park, Calif.-based company fell 6 cents to close at $5.16 on Nasdaq, before the news was released.

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