Informix Corp. (Nasdaq: IFMX) confirmed Thursday that its outlook for the fourth quarter ending Dec. 31, remains consistent with previous guidance. It's also biding time until it can repurchase "undervalued" stock.
Shares in the e-business software maker closed down 0.34 to 2.72 Wednesday.
Informix management also announced Wednesday that they believe the company's stock is currently undervalued, and continue to consider an additional repurchase of shares. However, the company is currently prevented from doing so by its policy not to repurchase stock during the period beginning with the last month of the quarter and ending forty-eight hours after its public announcement of financial results.
Exectations are the same as those announced in the company's third quarter earnings press release; sequential revenue growth from the third quarter 2000 level is seen at $211.1 million.
First Call is expecting earnings of a penny a share for the quarter. The company also said it sees a return to profitability, before previously announced charges. It expects sequential revenue and profitability growth to continue throughout 2001.