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Technology / AI and automation

TRITEAL FOUNDERS & EXECUTIVES GO BEFORE ANTICIPATED Q3 LOSS

Shares plunged at Carlsbad, California-based TriTeal Corp at the end of last week on news that chief financial officer Art Budman, president and chief operating officer David Chen, and two of the company’s founders, Oran Thomas and Greg White, are all resigning. Chen is apparently going to continue to work for the company on marketing and product planning issues. Triteal, which is expected to report a loss of 28 cents a share in its third quarter ending this month, according to First Call estimates, is putting a cost-cutting measure into place. These include a change to indirect distribution for international and government sales, and some consolidation of facilities, according to a Dow Jones report. Triteal has been shifting from a shrinking market – Unix graphical desktop software – over to an immature one – graphical and Java-based environments and internet agent, or push technology for Network Computers and thin clients (CI No 3,154). It has relied on a high proportion of government business and has a small customer base.

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CBR Staff Writer

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