Borland International Inc., hammered by price cuts...
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Borland International Inc., hammered by price cuts and increasing competition reported a sharply deeper third-quarter loss.
The Scotts Valley-based company, which last week announced hundreds of layoffs and a restructuring, lost $22.9 million, or 80 cents a share, for the three months ended Dec. 31. That compares with a loss of $2.9 million, or 11 cents a share, for the year-ago period.
Revenue fell 57% to $48.1 million, from $111.7 million. But the figure for the year-earlier quarter includes revenues from Borland’s sale of its Quattro Pro spreadsheet line to Novell Inc. Without that, Borland’s third-quarter revenue fell 40%.
Gary Wetsel, who earlier this month replaced founder Philippe Kahn as Borland’s president, blamed falling prices for the drop in revenue.
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