Micrologix makes bid for survival

Microsoft`s discussions with Sky Global Networks re a possible $1 billion investment in that company and another glut of quarterly results dominated the international world of IT and telecommunications last week.

Information Week`s Annual 500 listing, which rates the most innovative users of IT, has 3Com in the overall number one slot.

Paul Booth, MD, Global Research Partners

At home, the change of control and rescue operation at Micrologix and the continued troubles at Accord Technologies stole much of the local headline space.

• excellent year-end numbers from ERP.com (maiden results and better than pre-listing forecast) and unlisted IQ Business Group;
• satisfactory year-end numbers from Stella Vista (below expectations and second half of the year incurred a loss);
• disappointing full-year numbers from Setpoint Technology (revenue marginally up but earnings well down);
• a full-year loss from Oxbridge (increased loss over last year);
• re-stated full-year figures from Accord Technologies (earnings adjusted downwards following the VAT scenario);
• satisfactory interims from Intervid (well up on equivalent period last year, but disappointing when compared to last full year`s numbers); and
• an interim loss from Jasco Electronics (revenue up slightly).

[Local]

Other local news included:

• the resignation of several directors from Accord Technologies and Metropolis Transactive;
• the change of directors, change of control and rescue operation announced by Micrologix (the company has basically been sold for R839);
• the announcement that Mark Shuttleworth has won the CSSA/ITWeb Personality of the Year award; and that Vic Lumby of Old Mutual has been named as CIO of the Year;
• the news that ICASA had refused, at the present time, to allow MTN and Vodacom access to the GSM 1800Hz spectrum; and
• Lawson Software has closed its African operations and will use Solit SA for all distribution and support of its products.

• the name changes of Accent Semiconductor Technologies to Accent Optical Technologies, BuyNow to Aqueduct, Cambridge Interactive to PowerSteering Software, Computron Software to AXS-One and S3 to SONICblue;
• the announcement by Andersen Consulting that its new name, as from 1 January 2001, will be Accenture;
• an indication that the break-up plans of British Telecom would be known in about two weeks; and
• Mitel intends to split into two companies, separating its semiconductor business from its communications systems business.

[International]

Other international news included:

• the appointments of John Caldwell as interim president and CEO of Geac Computer, Bruce Coleman as interim CEO of Stamps.com, William deKay as CEO of ZipLink, James Gionfriddo as CEO of iXL and Jack Kay as CEO of Hotline Comms;
• the resignations of Steven Francesco, CEO of Nx Networks, Robert Knowling, chairman and CEO of Covad Comms, and Hans Snook, the CEO of Orange; and
• job loss announcements from Comdial and Quois.

We saw excellent figures from Accord Networks, Actrade Financial Technologies, Alcatel, Legend Holdings, Metro One Telecomms, O2Micro, Radware (back in the black), Trikon Technologies and Wipro.

Losses came from Accelr8, Accom, ACI Telecentrics, Adcore AB, Alaska Comms, Allin, ALPNET, AT&T Canada, AT&T Latin America, Attunity, AvantGo, Brokat AG, Caliper Technologies, Caminus, CapRock Comms, Cedara Software, Charter Comms, Choice One Comms, CMSI, Comdial, Condor Technology Solutions, Convergent Comms, Cray, CyberCash, Cypress Comms, Data Return, E-Sync Networks, EarthLink, Elastic Networks, enherent, Enlighten Software, Epicor, eSoft, Framfab AB, Fastnet, Focal Comms, General Magic, Gentia Software, Genuity, Globalstar, ImageMax, Imaging Technologies, ImageX.com, Indigo NV, Intellicorp, Interactive, Intergraph, Interland, Interliant, internet.com, Intershop Comms, j2 Global Comms, iXL, JVC, LanOptics, Lantronix, Lionbridge, Logix Comms Enterprises, Mainspring, Mapics, Maxwell Technologies, Meta4 NV, Metrocall, Micro Linear, Microvision, Mpower Comms, Nashua, Net2000, NetEase.com, Netergy Networks, netGuru, Notify Technology, ONI Systems, Optelecom, PDSI, Pegasus Solutions, Pilot Network Services, Primus Telecomms, PSINet, Previo QRS, Ramtron International, RCM Technologies, RCN, Read-Rite, Sapiens, SAP Systems Integration, SciQuest, Sequoia Software, SOHU.com, Sonic Solutions, Stamps.com, Starbase, Superior Telecom, Sykes Enterprises, SynQuest, Tangram Enterprise Solutions, TeleComputing, TeleCorp PCS, Telesis, Telxon, Tioga Technologies, US LEC, V3 Semiconductor, VIA NET.WORKS, Viasource Comms, Virage Logic, World Online, WorldGate Comms, XO Comms and Z-Tel Technologies.

Good numbers were recorded by Accord Networks, Advanced Semiconductor Engineering, Amkor Technology, APAC Customer Services, BE Semiconductor Industries, Computron (back in the black and licence revenues tripled), Cox Comms, Deutsche Telekom, Extreme Logic, GartnerGroup, Group 1 Software, i-data international a-s, IDT, IMRglobal, MapInfo, MSC Software, NDS Group, Nice Systems, OPNET, Orbotech, PCD, Silicon Valley Technologies, Silverline Technologies and TTM Technologies.

Satisfactory results were posted by Cadmus Comms (back in the black), CSC, Hitachi, Macrovision, Matsushita Electric Industrial, Opnet Technologies, Qualcomm, Sharp, SmartServ Online (back in the black), SPSS, Verizon and Vitech America.

Mediocre returns came from Cognitronics, Hector Comms, Hutchinson Technology (but back in the black), Interlogix, John H Harland, Magnetek, MDSI Mobile Data Solutions, Mitel, OPTi (but back in the black), Perot Systems, Qualstar, RiT Technologies (back in the black), Titan, Western Wireless and XeTel.

Very poor results came from Asyst Technologies, Communication Intelligence, Infinium (but back in the black), Internet Cable (back in the black - just), LaBarge (but back in the black), OAO Technology Solutions, Pac-West Telecomm, Paragon Technologies, Peritus Software, RiT Technologies, SEMX, Technisource, TransNet and UBICS.

Other financial news included profit warnings from Altera, CSC, Easyscreen, Framfab AB, Lynx Group, Mitel, Muse Technologies, NetSilicon, Sprint and WorldCom.

There were share split announcements from Alliant Techsystems, Anaren, Cree, e.Globe (reverse) and e.piphany; an excellent IPO from Optical Comm (fibre optics); and the postponement by Qualcomm of its IPO.

Additionally, Terra Lycos, formed by the merger of the US and Spanish Internet companies, had a good debut in Madrid; Germany`s software group, Teamwork, filed for insolvency; and UBNetworks filed for Chapter 11 protection.

Locally

C-Tech (+78.9%)
Contlan (-20%)
Cyberhost (+33.3%)
EC-Hold (+27.6%)
MGX (-25.8%)
Micrologix (-60%)
MMW (+25%)
Sethold (-20%)
Y2KTec (-25%)

Internationally

AXS-One (+40%)
BackWeb (+56.23)
Broadbase Software (+47%)
EarthWeb (+47.7%)
Focal Comms (+60.1%)
GTS (+100.2%)
Integrated Device (-42.8%)
Magic Software (+47%)
PSINet (-62.2%)
RF Micro Devices (+47.3%)
Software AG (+120.1%)
Ultimate Software (+97.5%)

Information Week`s Annual 500 listing, which rates the most innovative users of IT, has 3Com in the overall number one slot. Other key IT/telecommunications ratings include Compaq at number three, Cisco at five, Sprint at seven, and Arrow Electronics at 10.

Additionally, this week (Thursday) sees Dimension Data report its maiden results since listing on the LSE, and Datatec announcing its interims on Tuesday.