Tech One's seven-year hitch
Brisbane-based software developer Technology One has warned shareholders that for the first time in seven years the company is not expecting to meet its profit targets. The ASX-listed developer of financial, HR and administrative software prides itself on its flawless financial record, announcing its seventh consecutive year of annual profit ($8.76 million) in September. Most of its competitors have failed to post profits at all. One quarter later and the developer is warning its shareholders that the sagging IT industry is finally going to take its toll on the company.
ICSGlobal in good health
E-health services provider ICSGlobal has landed three-year contracts with eight new hospitals and day surgeries to supply its core business solution, Thelma (Transactional Health Exchange Linking Multiple Applications). The new customers take the total number of hospitals signed up for the solution to 68. A combination of software, hardware and services, Thelma uses the Internet to connect different types of software and technology platforms used by the health industry, enabling the exchange of real-time information and complex business transactions between hospitals, health funds, Medicare, specialists, GPs, diagnostic providers, and medical supply companies.
Novell downplays loss
Novell has reported a net loss of US$91.7 million for its fourth quarter, to October 31, causing its shares to plummet US$0.65 to $3.23. Novell's sales in the Q4 period dropped 4.9 per cent from $315.9 million to $300.3 million, and the company expects a further 6 per cent drop in sales in Q1, 2003. Novell downplayed the disappointing Q4 results in a media release issued last week, reporting that "Novell's business strengthened more quickly and performed better than expected in the fourth quarter", and that it had "enjoyed unprecedented market demand in Australia".