Amid the debris of falling share prices on all the world's major indexes, there were some glimmers of hope to be spotted on dealers' screens.
Linux vendor Red Hat showed increased turnover and slightly reduced losses for its fourth quarter. The company reported an adjusted net loss of $600,000 (£420,023) on turnover of $27m. This is up from a net loss of $5.6m on turnover of $13.1m for the same quarter a year ago. Net losses totalled $24.2m, compared with $24.6m last year.
Computer Associates gained momentum on news of several wireless deals with Nokia, Motorola and EDS and, despite Intel's announcement that the next few months will remain tough, its deal to produce 250,000 web PCs for a joint venture with Spain's largest bank and AOL gave its shares a lift.
E-services company Proxicom anticipated that its first-quarter 2001 turnover will be between $39m and $41m, about 26 per cent lower than forecast.
Proxicom expected to take a one-time restructuring charge this quarter of between $32m and $36m, including severance packages and other costs associated with renegotiating real estate deals.
Motorola joined the pessimistic parade of companies claiming that a quick turnaround was unlikely. Robert Growney, president, said problems in the first quarter haven't changed. The company expects an operating loss for its first quarter.
Canadian software developer Corel said last week that it expected to report a first-quarter net profit, two quarters ahead of its previously stated target for a return to profit.
Corel, which has struggled amid slowing sales and last summer's resignation of founder Michael Cowpland, said it expected a net profit of $500,000 for the latest quarter.
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