View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
May 30, 1997updated 05 Sep 2016 12:42pm

LEARMONTH & BURCHETT POSTS HEAVY LOSSES

By CBR Staff Writer

Learmonth & Burchett Management Systems Plc is concentrating very hard on its quarter on quarter growth for the fiscal year ended April 30th because the year on year comparatives make such unpleasant reading. Based in Houston, Texas after clearing out of the UK last year, LBMS provides Process Management products to companies like Texaco Group and Northwest Airlines. Its leading product is Process Engineer now in vs. 7.0. Net losses for the year were $16.3m up from losses last time of $0.8m on revenues that fell a massive 46.9% to $21.9m. Product license and service revenues took an enormous dive in the early part of the year, but since then the company has had a board reshuffle and a very expensive company wide reorganization. Mike Bennett was installed as President and CEO in the second quarter and the company went on to expense an $18m restructuring charge in the same period. With all that behind it, the company went on to post third quarter profits in February, which it has gradually improved upon in quarter four. Revenues are still a long way off the year ago figures but an air of confidence has returned to LBMS and the share price is trickling back up.

Content from our partners
How businesses can safeguard themselves on the cyber frontline
How hackers’ tactics are evolving in an increasingly complex landscape
Green for go: Transforming trade in the UK

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU