Aqua Online bucks the trend

The Department of Justice/Microsoft appeal hearings and the spate of "profit" warnings, including one from Oracle, dominated the international world of IT and telecommunications last week.

[VIDEO]At home, the continued board shuffling at Top Tech and the spate of local results, with Aqua Online significantly bucking the trend, stole most of the local headline space.

• we saw excellent half-year numbers from Aqua Online with revenue and earnings well up and better than last full year;
• a good set of maiden interims from Integrear and OneLogix;
• good interims from Grintek (turnover up 14% but earnings up 33%);
• satisfactory six-month figures from Compu-Clearing (turnover up 14% but earnings down 1%);
• disappointing half-year numbers from Paragon Business Comms (revenue up a little but earnings down over 10%); and
• a significant half-year loss from Ixchange (but revenue up).

[Local]

Other local news included:

• the appointment of a completely new board at Top Info Technologies;
• the resignation of Kingsley Jones, MD of Accord Distributors;
• the announcement of a joint venture between RCI Southern Africa and AXS-One; and
• Computerweek`s change to a fortnightly publication.

Xhard = On the international front

• we saw the name change of Centura Software to Mbrane; and
• the announcement that Adaptec is to restructure.

Watch out for the possible acquisition by Telecom Italia of a stake in Auna, the main rival of Spain`s Telefonica; the finalisation of the sale of the Fuji Xerox stake by Xerox to Fuji Photo in a deal estimated to be about $1.5 billion; and the sell-off by Lernout & Haupsie of its Mendez translation business.

[International]

Other international news included:

• the appointments of Mark Allen as CEO of Transmeta, Norman Blake as CEO of Comdisco, Terry Colbert as CEO of SATX, Tan Tong Hai as CEO of Pacific Internet, Jacob Inbar as president and CEO of AML Comms, Wayne Inouye as president and CEO of Emachines, and Paul Roth as president and CEO of Prodigy Comms;
• the resignations of Kenneth Hill, chairman and CEO of Condor Technology Solutions, Merritt Jesson, president and CEO of SATX, Nicholas Lee, CEO of Pacific Internet, and Marc Zionts, CEO of Westell Technologies; and
• job loss announcements from 3Com, Aspect Comms, Commtouch Software, Corning, JDS Uniphase, Kana Comms, Lotus, Microchip Technology, Psion, Sapient, SCI Systems and WorldCom.

Watch out for the possible acquisition by Telecom Italia of a stake in Auna, the main rival of Spain`s Telefonica.

Paul Booth, MD, Global Research Partners

We saw excellent figures from NetEase.com, Staffware, Stratos Lightwave and TeleCorp PCS (back in the black).

Good numbers were recorded by Aegis Comms (back in the black), Ceradyne, Comcast (back in the black), Datastream Global Comms, Eidos, Jumptec, MCSi, ProsoftTraining.com, Rohn, Telefonica SA, Telekom Malaysia and Wind River Systems.

Satisfactory results were posted by Alliance Atlantis Comms, ASAT Holdings, Cable Design Technologies, Cesky Telecom AS, Core (back in the black), EPIQ Systems, GSI Lumonics, MSX International, New Horizons Worldwide, Olicom (back in the black), Proginet (back in the black), Take-Two Interactive Software, Royalblue and Spirant.

Mediocre returns came from Applied Graphics Technologies (but back in the black), Comms Systems, Dycom, Getronics, Horizon Technology Group, Information Holdings, Ingram Micro, Iron Mountain (back in the black), MSC.Software, NavisionDamgaard, nCipher (but back in the black), Peritus Software Services (but back in the black), PLDT, Rainbow Technologies, RCM Technologies, Rockford, TDS AG and Traffix.

Very poor results came from Arguss Comms, Biper SA de CV (but back in the black), International FiberCom, inTEST, Manchester Equipment, Medialink, Navigant Consulting (but back in the black), SCB Computer Technology, Technisource and TechTeam.

Losses were posted by 360networks, Allin, Allscripts, Andrea Electronics, Aptimus, Arc International, Atlantic Telecom, Bluefly.com, Breakaway Solutions, Bull, BVR Technologies, Caldera Systems, Certicom, Cognigen Networks, COM DEV, CompleTel Europe, Computone, Convergent Comms, DA Consulting Group, Datalex, DSL.net, eLEC Comms, eMagin, eOn Comms, Fastnet, FieldWorks, Formula Systems, Gilat Comms, Global Data, Greystone Digital Technology, Hutchison Technology (Australia), Ingenuus, IVI Checkmate, Jazztel, JetForm, Keycorp, Keyware NV, Leitch Technology, Lobster Network Storage AG, Logisoft, Marex, Maxcom Telecomms, Nashua, Netia Holdings, Nexus Telocation Systems, NICE Systems, Niku, NTELOS, On Command, OneClickHR, Orchestream, Pacific Internet, Paxson Comms, Pegasystems, PMR, Primix, Procom Technology, Prodigy Comms, Ptek Holdings, Radio Unica Comms, Ravisent, Scitex, SCM Microsystems, Sideware, SpectraSite, Speedcom Wireless, StatPro Group, Symbol Technologies, Syscan, TACT, Tekgraf, Telescan, Teligent, theglobe.com, TigrSoft, Trintech Group, V-One, Verado Holdings, VIA NET.WORKS, ViewCast, Vodavi, Webb Interactive Services, Winstar Comms, Z-Tel and Zixit.

Other financial news included profit warnings from Adaptec, Altera, Amphenol, ATI Technologies, Avanex, CDT, Chartered Semiconductor, Elantec Semiconductor, Fujitsu, Gateway, Harris, iGo, Inet Technologies, Integrated Telecom Express, Lam Research, Lattice Semiconductor, Oak Technology, Oracle, Rolfe & Nolan, Sanmina, Sapient, Sawtek, SBC Comms, SBS Technologies, SCI Systems, SPSS and Texas Instruments.

There was also a share split announcement from Symbol Technologies, and a withdrawn IPO from International Micro Circuits (ICs). Additionally, Gateway published a revised set of results for 2000, showing reduced income, and CyberCash filed for Chapter 11 bankruptcy protection.

Locally

Accord Technologies (-27.3%)
CompuClearing (+30%)
Contlan (+100%)
Core (+33.3%)
Explorer (+25%)
Fintech (-67.6%)
I-Tech (+33.3%)
Labat Africa (+33.3%)
PTH (-25%)
Sethold (-33.3%)
Synergy (-66.7%)

Internationally

Broadcom (-33.3%)
Convergent Comms (-70.8%)
Elantec Semiconductor (-44.7%)
European Telecom (-30.3%)
Inet Technologies (63.9%)
Level 8 Systems (+30.6%)
Proxicom (-30%)
Rolfe & Nolan (-38.2%)
Tibco (-43.7%)

Fortune Magazine`s latest issue contains this year`s "Most Admired" ratings. In the computers/office equipment category Gateway has moved to the top spot with last year`s number one, Dell, dropping to number five. Texas Instruments has taken over the top spot from Intel in the semiconductors category, whereas in all the other IT/telecoms categories there have been no significant changes in the top positions.

However, new entrants did include Maxtor (number five) to the peripherals category and Nortel Networks (number two) in the network comms category.