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August 3, 1987

INTELLICORP SEES BIG LOSS, CUTS WORKFORCE BY 10%

By CBR Staff Writer

Artificial intelligence software developer IntelliCorp, best known for its KEE Knowledge Engineering Environment, has warned that it expects to report a substantial loss for its fiscal fourth quarter to June 30, in part as a result of a planned corporate realignment to expand its market base and reduce costs, which will involve cutting its 230-strong workforce by 10%. A year ago the company reported net profit of $3.6m after a $1.1m tax credit. In the first nine months of the current year, it reported a $1.3m loss on turnover of $14.6m.

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