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September 23, 1998

PERITUS CONTINUES LOSING WAYS; MORE JOB CUTS

By CBR Staff Writer

Software maintenance and year 2000 outfit Peritus Software Services Corp pre-announced more disappointing results, this time for its third quarter, ending September 30. The Billerica, Massachusetts-based company said its total revenue in the quarter is currently expected to be between $4.2m and $7.7m, and that it expects to report a net loss for the quarter, before any charges, of between $8.2m and $4.7m. Later this month, Peritus will announce details of a new round of restructuring activities and the size of a resulting charge to be taken during the quarter. The company refused to comment on the restructuring, the number of jobs that will be lost, or on any specific problems during the quarter. In March, the company announced it was cutting its staff by 35 people, an action that led to a second-quarter restructuring charge of $1.4m. The upcoming poor results follow a loss of $980,000 in the second quarter and a first-quarter loss of $2.6m. By contrast, for the first six months of 1997, net income was $844,000 or $0.01 per share. The company will announce its final third quarter results in late October.

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