Informix makes multimillion dollar blunder

Informix has made a multimillion dollar blunder. The company is as much as US$100 million short of its reported $940 million 1996 revenues. Some of its 1996 revenues should have been deferred to subsequent periods, the company has said in a statement. One of the possible repercussions of the findings is that Informix may have made a net loss for 1996 instead of net income of $97.6 million. Meanwhile things don't look too good this year either.

Informix has made a multimillion dollar blunder. The company is as much as US$100 million short of its reported $940 million 1996 revenues.

Some of its 1996 revenues should have been deferred to subsequent periods, the company has said in a statement. One of the possible repercussions of the findings is that Informix may have made a net loss for 1996 instead of net income of $97.6 million.

Meanwhile things don't look too good this year either. The company has reported a net loss of $120.5 million, or 79 cents per share, for its first fiscal quarter for the period ending June 29, 1997.

The company took restructuring charges of $62.1 million related to personal reductions and write-downs of certain assets.

Informix officials said that they could not immediately clarify the situation to members of the press. Informix is due to have a staff meeting this afternoon to discuss the company's situation, officials said.

Informix based in Menlo Park, California, can be reached on the World Wide Web at http://www.informix.com/

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