An African first

No major stories/events dominated either the international or local world of IT and telecommunications last week.

* We saw mediocre full-year numbers from Sekunjalo (revenue and profit both down);
* Full-year losses from Stella Vista (revenue also well down) and Vesta Technology Holdings (revenue also down);
* An excellent set of interim figures from Y3K (revenue and profit both significantly up);
* An interim loss from Labat Africa (but revenue up); and
* The suspension of CSH`s shares.

Other local news included:

* Business Connexion acquired Intrinsic Technology;
* JSE-listed Y3K plans to move to the AltX under the name Information Security Architects;
* The change of SA Computer Magazine`s publishing licence to Replay ITV Media; and
* The resignation of Dave Reddy, country manager of Veritas Software SA.

New local distributorships included that of IBM by Annex Distribution.

On the African front, Emtel, the Mauritian cellular operator, launched the first 3G service in Africa. Also look out for the ongoing licence saga of Econet Wireless International`s situation in Kenya.

* We saw Deutsche Telekom take a small stake (6%) in India`s HCL Technologies;
* Verizon Comms sold off its 20.5% holding in Telus;
* The EU approved the French government`s rescue package for Bull;
* LG Philips is to invest over $5 billion in its LCD manufacturing plant in South Korea;
* The confirmation of the deal between Easy Group and T-Mobile for mobile services in the UK;
* The Czech government will sell its 51% stake in Cesky Telecom through a tender;
* Austria`s government will sell some of the shares it holds in Telekom Austria (a 17% stake sold);
* NEC bought back the outstanding shares it doesn`t own in NEC Soft and NEC Systems Technologies; and
* The resignation of a further two senior executives at Nokia.

Additionally, look out for IBM`s possible sell-out of its PC business; Telekom Austria`s acquisition of Bulgarian operator, MobilTel, late in 2005 for EUR1.6 billion; and a potential purchaser of UK-based Marlborough Stirling.

Other international news included:

* The appointments of James Caparro as president and CEO of Atari, David Fannin as president and CEO of Propel Software, Ilene Kaminsky as CEO of Epixtar, Didier Lamouche as CEO of Bull, Bruce Sanguinetti as CEO of NeoReach, Robin Stracey as president and CEO of Applied Imaging, and Tony Zingale as president and COO of Mercury Interactive;

* The resignations of Carl Hull as CEO of Applied Imaging, David Srour as CEO of Epixtar (stays on as president and COO) and Ziggy Switkowski as CEO of Telstra; and

* Job loss announcements from Alcatel, JDA Software, TriQuint Semiconductor and Unaxis.

JSE-listed Y3K plans to move to the AltX under the name Information Security Architects.

Paul Booth, MD, Global Research Partners

We saw excellent* figures from Forgent Networks (back in the black); and very good* numbers from Clarity Commerce, Green Hills Software, Robomatix Technologies (back in the black), SemTech, Telvent, TPV Technology and Tundra Semiconductor.

Good figures* were recorded by Comverse Technology (back in the black), FormScape, Pilat Technologies (back in the black) and Sage Group; and satisfactory* ones by Catalyst Semiconductor, Norstan (back in the black), OmniVision Technologies, SkillSoft (back in the black) and Verint Systems.

Mediocre* returns came from American Software, GigaMedia (but back in the black), Methode Electronics, OMG, Partner Comms, SSA Global, Xansa and Xeta Technologies; while very poor results* came from Prologic.

Losses* were posted by Aegis Comms, Artisoft, ASAT Holdings, Belgravia Telecom, Blue Tree Wireless Data, Credence Systems, Cybit Holdings, Descartes Systems Group, Dream Direct, Eagle Broadband, Feedback, GK Intelligent Systems, GuruNet, ID Data, Intec Telecom Systems, LanVision Systems, Logility, Lowrance Electronics, Matav, OTI, Patientline, Plasmon, Sonic Foundry, Stellas Technologies, Synopsys, Triple P NV, TTI Telecom, Ultimate Electronics, Wegener and XATA.

Other financial news included analyst upgrades for August Technology, AVX, BCE, Citrix Systems, Conolog, Cray, Descartes Systems Group, Google, Intel Kemet, Mindspeed Technologies, Nvidia, Philips Electronics NV, Red Hat, Sanmina, Stratex Networks, Synopsys, Teradyne, Vishay Intertechnology, Wireless Facilities and Zebra Technologies; and analyst downgrades for Agile Software, Amazon.com, Apple, Catapult Comms, Check Point Software Technologies, Cogent Systems, Cognos, Corning, DiamondCluster International, e-Bay, Entercom Comms, Fairchild Semiconductor, Infineon, Instinet Group, InterDigital Comms, Mercury Computer, Methode Electronics, Microchip Technology, Ntl, Open Text, Oracle, palmOne, PeopleSoft, Quantum, Qwest Comms, SAP, SigmaTel, Skillsoft, Symmetricom, Synaptics, Tekelec and Tellabs.

Private offering of bonds/notes by Alliance Imaging, Insignia Systems, LB Icon and Synaptics; private funding obtained for Illuminator; share buy-back announcements from Brightpoint, CSI, DG Systems, Sapient and Synopsys; positive results/profit warnings from Intel and SoftNet Technology; negative results/profit warnings (often veiled) from Microchip Technology, Samsung and Zetex; share split announcements from AirNet Comms (reverse 10:1), NCR (2:1) and Z-Tel (reverse 5:1); a good IPO from Ninetowns Digital World Trade Holdings in China; and a satisfactory IPO from Incat International on London`s AIM.

Locally

Altron (-9.6%)
Business Connexion (-10%)
Control (-10.9%)
CS Holdings (+47.1%)
Dimension Data (+20%)
Elexir (+50%)
Faritec (-30.8%)
Jasco (+9%)
Sethold (+10.5%)
Vesta Technology Holdings (-42.9%)

Internationally

Advanced Tech UK (-35.3%)
Com21 (+100%)
Daisytek International (-33.3%)
FiberMark (-45%)
Maisha (+60%)
Marlborough Stirling (-28.6%)
Provo International (+33.3%)
QA (+39.1%)
Scan-Optics (+50%)
Wegener (+57.1%)

In terms of indices, the Nasdaq was up 2.2% and the JSE up 0.5% for the week.

This is the last Booth`s Bites for the year as next week will feature my review of 2004. The column will resume on 10 January and will cover the 'missing weeks` although the format will be updated and look different and the content enhanced.

To all my readers, thank you for your support in 2004 and I wish you well over the festive season and a good 2005.

NB

Guidelines for the categorisation of results are as follows and are always in comparison with the equivalent period for the previous year; pro forma numbers are ignored (the terminology may vary slightly from country to country).

* Excellent: Both revenue and net income growth in excess of 50%.
* Very good: Both revenue and net income growth in excess of 25%.
* Good: Both revenue and net income growth in excess of 10%.
* Satisfactory: Revenue is within 10% of previous year and net income is up.
* Mediocre: Either revenue and/or net income is down.
* Very poor: Net income is less than 1% of revenue.
* Loss: A loss has been recorded.