Convex Computer Corp, Richardson, Texas, warns that financial results for the quarter to December 31 will fall below the current estimates of investment analysts. Sales for the quarter is expected to be about $46m, and the company expects to report a loss of about $13m or $.50 per share early next month. As previously indicated, current financial results are below acceptable levels, said Robert Paluck, Convex chairman and chief executive. Revenues were up from the third quarter on the strength of the data management business contribution. However, we anticipate reporting a larger loss than the prior quarter due to the impact of currency translations, an increase to the restructuring charge, and additional charges related to the bankruptcy of an international leasing company and the financial difficulties of another customer. Without these items, operating results would have been more in line with expectations. On the upside, it says it is making solid progress on the new Exemplar scalable parallel processing system.
