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Technology / AI and automation

NOVADIGM SAYS ITS INTERNET PRODUCTS WON’T SHIP UNTIL Q3 1998

Mahwah, New Jersey company Novadigm Inc says its business plan calls for it to get back into profit by the end of its current fiscal year in March 1998. It’s been trailing red ink because of what it’s spent developing a new internet-based suite of software distribution applications which are expected to beta in a couple of weeks, alongside a new release of its Enterprise Desktop Manager client/server distribution software. Should be interesting to see if it can hit its target. Although Novadigm’s been talking about the new products since the beginning of the year and has most recently told us they’ll see the light of day this year, in its most recent 10K SEC filing it states the company has invested resources into the development of the next release of the Enterprise Desktop Manager(TM) and products for the internet, which are expected to be commercially available in the second and third quarters of fiscal 1998 respectively. That’s a year out by our reckoning. Novadigm says it could continue to function at the current loss rate for another 13 quarters if it had to given its cash and equivalents. It might just need a goodly portion of that if its delivery dates slip. The company last month reported a first-quarter net loss of $2.1m on revenue down 28% at $4.5m, up from a net loss of $1.3m a year ago (CI No 3,210). Research and development expenses were $1.66bn or 36.9% of total revenues for the quarter up from $1.34bn or 21.5% of total revenues for the same period last year. It claims 100 customers and says that Novadigm products and associated service and ISV products generated $47m revenue over the last 12 months compared with a push technology market worth $35m according to Forrester Research.

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CBR Staff Writer

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