1994-07-20, English, Article, Other article edition: Lotus's profit on operations fell in quarter; second-period sales slid 5% as software maker lost share to Microsoft. Wilke, John R.

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Physical Description
  • Newspaper article
Published
  • Dow Jones &​ Company, Inc., 1994 July 20
Language
  • English

Edition details

Title
  • Lotus's profit on operations fell in quarter; second-period sales slid 5% as software maker lost share to Microsoft.
Appears In
  • The Wall Street Journal Western Edition, 1994 July 20, pA3(W) pA3(E) (ISSN: 0193-2241)
Author
  • Wilke, John R.
Published
  • Dow Jones &​ Company, Inc., 1994 July 20
Physical Description
  • Newspaper article
Subjects
Target Audience
  • General
  • Trade
Summary
  • Lotus reports a gain in net income for its 2nd qtr compared to the same period in 1993, but operating profit was down and sales dropped 5%. The company earned $9.7 million in net income for its 2nd qtr, compared to a $4.6 million loss in the same period a year earlier. Lotus also posted an operating profit of $9.7 million for the latest quarter, which was down 36% from the $15.2 million recorded a year earlier. Sales were also off, dropping to $224 million from $235.8 million. Many analysts attribute the poor sales to Microsoft's growing dominance of the software industry. Lotus introduced the first desktop application with its Lotus 1-2-3 spreadsheet software, but the company is facing increased competition from market leader Microsoft. News of the 2nd qtr results caused Lotus' stock to drop 15%, or $5.625 per share, to close at $33.125 a share in Nasdaq trading.
Language
  • English
Database
  • Gale General OneFile
Identifier
  • 15584891

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