Microsoft will split its stock for the seventh time in its history. The leading software vendor said shareholders will be eligible for the two-for-one split on 6 February. The move will leave Microsoft with about 2.4 billion shares outstanding. The company previously split its stock in December 1996.
Storagetek reported record net income for the year to 26 December 1997 of $231.8 million, up 28.5 per cent from last year. Turnover was $2.1 billion, up from $2 billion last time. In the fourth quarter, net profit was $83.7 million, an increase of 23 per cent on the same period in 1996. Revenue was $663.9 million.
Database software vendor Sybase, has confirmed a loss of $55.4 million against a loss of $79 million last year, after restating its annual results in the year ended 31 December 1997. Turnover was down $1 billion from last year to $903.9 million. Fourth quarter losses were $25.5 million against a profit of $5 million last time. Turnover for the quarter was down 17 per cent to $223.2 million. Sybase blamed a number of irregular sales contracts in Japan, which had to be written off. The sales representatives responsible either resigned or were fired.
Check Point Software Technologies posted a net profit for the fiscal year ended 31 December 1997 of $40.2 million, up 163 per cent from $15.2 million last time. Revenue was nearly $83 million, an increase of 160 per cent on the previous year.
Misys Group achieved a pre-tax profit of #32.1 million for the half year ended 30 November 1997, up 35.7 per cent on the last half-year period. Turnover was #177.6 million - up 24 per cent from last time. Financial services accounted for more than 90 per cent of the company's business.
Borland International made a net profit in Q3 ended 31 December 1997 of $2.8 million against a loss of $29.4 million in the same period last time. Revenue for the period was $43 million, down 17 per cent.
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