Alpha Microsystems announces operating changes that will result in substantial loss.SANTA ANA Santa Ana, city, El Salvador Santa Ana (sän'tä ä`nä), city (1993 pop. 129,873), W El Salvador. It is the second largest city in the country and the commercial and processing center for a sugarcane, coffee, and cattle region. , Calif.--(BUSINESS WIRE)--Feb. 3, 1995--Alpha Microsystems (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on NM:ALMI ALMI Application Level Multicast Infrastructure ALMI Automated Listing and Mapping Instrument (US Census Bureau) ) Friday announced that following a review of anticipated year-end results, management has determined that the service organization is experiencing reduced profitability which is attributable to both a revenue decline and increased expenses. The result will likely cause the company to report a loss from operations for the fourth quarter and year ending Feb. 26, 1995. The company is immediately taking several actions to improve the service unit's performance. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the announcement by president & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Douglas J. Tullio, "The company has now determined that it is in its best interest to take additional actions to concentrate its financial and manpower resources Human resources available to the Services that can be applied against manpower requirements. on its software and services operations." Tullio added that these additional actions will necessitate substantial write-offs that will be recorded with the quarter's results. He said that the company expects a fourth-quarter loss from operations and write-offs of between $3.5 million and $4.5 million. Tullio commented, "Our transition to software and services has been a difficult one, but we have established new operations with markets, products and/or services with growth potential. Among those operations that merit our full and undivided attention and resources are our PANDA(tm) software for educational food-service organizations, and our Alpha Healthcare software, systems and support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services for dental practices. We also strongly believe that our service unit, Alpha Microsystems Services Organization (AMSO AMSO Army Model and Simulation Office AMSO American Medical Specialty Organization AMSO Aeromedical Safety Officer AMSO Association of Market Survey Organizations AMSO Ammunition Shipment Order AMSO Acquisition Management Staff Office ), will be able to achieve consistent and predictable profitability with the management actions we are implementing." Tullio said that Randy Parks, who has been manager of AMSO's eastern U.S. operations, has been named AMSO's National Director of Service. Parks will assume the services operations duties previously managed by Gerald Knight, who has resigned to pursue other opportunities. Tullio said that under his personal aegis, Parks will work closely with respected industry consultant D.F. Blumberg & Associates to implement certain strategic recommendations that Blumberg has made following completion earlier in fiscal 1995 of a full study of AMSO and its market potential. Alpha Microsystems is an information technology products and services provider concentrating on vertical market niches, served both directly and through value-added resellers and distributors. The company also provides consulting, networking, software support and maintenance services, with approximately 50 locations in North America and the United Kingdom. CONTACT: South Coast Communications Joe Allen, 714/252-8440 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion