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February 2, 1999


By CBR Staff Writer

Baan NV, which last month said its fourth quarter losses would be higher than expected on revenues down 35% (CI No 3,580), was originally expected to have reported today, but has delayed its reporting date. It said at the time the delay was due to the complexity of the restructuring, the purchase of Baan Mid-market Solutions, and the accounting for the Caps Logistics Inc transaction. It expects to report a net loss of $250m for the fourth quarter, mainly due to a $160m restructuring charge, revised upwards from $110m, on revenues for the quarter of $142m. A new date has yet to be announced the company said yesterday.

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