System Software Associates Announces Fiscal Fourth Quarter Results - The Agony Continues
P.J. Jakovljevic - December 15, 1999

Event Summary

On December 1, System Software Associates, Inc., a global provider of enterprise resource planning (ERP) software and services, announced financial results for its fourth fiscal quarter ended October 31, 1999. Revenue for the fourth quarter was $66.2 million, down 41 percent from a year ago. Software license fee revenue was $23.4 million, while client services revenue totaled $42.8 million in the current quarter. SSA reported a fourth quarter 1999 operating loss of $5.5 million, which included the reversal of $2.3 million of restructuring charges stemming from 1998 restructuring activities. SSA reported a net loss of $9.8 million after preferred dividends, or a $.82 per share loss in the fourth quarter, compared with a net loss per share after preferred dividends of $.29 in the fourth quarter of 1998...