wer kann etwas über Razorfish,Aktie sagen??
Seite 1 von 1 Neuester Beitrag: 09.02.01 11:51 | ||||
| Eröffnet am: | 06.02.01 17:30 | von: TRD869 | Anzahl Beiträge: | 9 |
| Neuester Beitrag: | 09.02.01 11:51 | von: Kicky | Leser gesamt: | 1.633 |
| Forum: | Börse | Leser heute: | 1 | |
| Bewertet mit: |  | |||
Razorfish to cut 400 jobs worldwide in restructuring
(UPDATE: Adds details, company and analyst comments, byline, previous NEW
YORK)
By Lisa Baertlein
PALO ALTO, Calif., Feb 5 (Reuters) - Razorfish Inc. (NasdaqNM:RAZF - news), which provides Internet Web design and
consulting services, said on Monday it was cutting more than 20 percent of its global work force as part of a cost-cutting plan
aimed at saving the company about $70 million in 2001.
New York-based Razorfish, which was founded in 1995, said it was eliminating 400 jobs from its total work force of about
1,900 in an effort to improve profitability and shareholder value.
The company also said it was restricting expense policies in certain areas, streamlining some regional departments and
expanding its use of partnerships and alliances as part of the restructuring program. Company officials declined comment
through a spokeswoman.
``We have initiated several important changes that will allow us to better serve our clients, increase our revenues and quickly
return us to the profitability that has defined our business for over five years,'' Jeff Dachis, Razorfish's chief executive, said in a
statement.
Razorfish shares, which a year ago was trading around its high of $56-15/16, fell to $1 in December. Shares lost 5/32, about 8
percent, to finish the session at $1-13/16 on Monday.
DOT-COM FAILURES IMPACT INDUSTRY
Net consulting companies -- including Razorfish, MarchFirst (NasdaqNM:MRCH - news), Scient Corp. (NasdaqNM:SCNT
- news), Sapient Corp. (NasdaqNM:SAPE - news) and Viant Corp. (NasdaqNM:VIAN - news) -- soared during the
dot-com craze and have issued profit warnings and trimmed jobs in the wake of the dot-com meltdown.
In December, Dachis warned that Razorfish would likely post a fourth-quarter loss of between 17 cents and 22 cents rather
than the 2 cent profit Wall Street had expected. He blamed a slowdown in corporate tech spending and said that sales cycles
were getting longer as Internet projects increased in size and and complexity.
Robertson Stephens Analyst Steven Birer welcomed the company's restructuring plan, which he had hoped to get when the
company issued its fourth-quarter warning.
``I think this is an admission that they have more then enough employees to get the work done,'' he said.
On a cautionary note, Birer said that the cost-saving measures announced Monday are based on the company's revised $50
million revenue target. If the company's sales fall below that, expenses will weigh heavily on results.
Many of the troubled Internet-focused consulting firms now are targeting large, established companies in an effort to boost
revenue.
That shift, however, is not without its challenges.
Established companies are not as loose with money as venture capital-funded start-ups had been and consultants must invest
more time and effort to woo them as customers.
On the competitive side, the troubled consulting firms are likely to bump into larger, more diversified shops such as Computer
Sciences Corp. (NYSE:CSC - news) and Electronic Data Systems (NYSE:EDS - news) as they seek new business in that
realm.
Gruß Dampf
Razorfish announced a series of cost-saving initiatives geared towards right-sizing the business with
the current demand environment,” said Birer. “All told, the company expects to achieve overall
savings of $70 million in CY01. To cut costs, the company announced the elimination of
approximately 400 jobs worldwide. While the company did not provide specifics, we believe that cost
savings will not all be derived from the headcount reduction. Assuming an average salary of $75,000
to $100,000, eliminating 400 jobs will save only $30-40 million. We assume the remainder of the
savings will come from the consolidation of HR functions and tighter restrictions on expenses, travel,
marketing and recruiting. Management plans to provide more color during the company’s earnings
call on Thursday. We will revisit our rating and estimates at that time. All told, we believe yesterday’s
announcement is positive. It has been our belief that these cuts are necessary and reflect the
realities of the current environment for iBuilders. We believe that the technology spending slowdown
will extend through the first of half of 2001, and that without these cuts the company would face
critical funding issues. In our view, yesterday’s announcement is therefore a welcome sign and an
indication that management has not only acknowledged the adverse effects of the industry-wide
slowdown on Razorfish, but also begun taking the necessary steps to allow the company to survive.
Gruß Dampf
On Monday, the New York-based "global digital solutions provider" announced that it would restructure its business, trimming expenses and gutting its employee roster by about 400.Some details of the company's "cost-reduction activities," which are expected to save $70 million this year, were outlined in a press release issued just after the bell on Monday in which Razorfish (RAZF: news, msgs) also said it was "implementing several key changes to its service offering, global infrastructure and employee networks, all of which are designed to improve customer satisfaction, employee satisfaction, profitability and shareholder value."
The company also said it would reduce travel, marketing and recruiting expenses, along with a revamp of its compensation and incentive plans.
Before the cuts, Razorfish had approximately 1,800 employees in 15 offices in North America, Europe and Japan. There was no word on office closures, although the company said there would be "consolidation and streamlining of shared resources ... at a regional level."
Adding to the bad news, the company has been hit with a full creel of shareholder class-action lawsuits over the last month or so. The multiple filings charge Razorfish with violations of securities laws and with making false and misleading statements about the company's performance.
Two weeks ago, it announced a stock buyback plan that could result in bringing as many as 5 million of its 98 million outstanding shares back into the fold.
Shares in Razorfish were up 19 cents, or 10.3 percent, to $2 on Tuesday. Its 52-week high of $56.94 was set back on Valentine's Day 2000; its low of $1 arrived just in time for Christmas.
Ich fürchte auch,die Freude hält nicht lange an.Solche Massnahmen werden wohl auch im Hinblick auf den Quartalsbericht am Donnerstag getroffen,und der ist wohl doch nicht so gut wie erwartet.Sie haben zwar etliche wichtige Aufträge in letzter Zeit bekommen von Ford und Coca Cola,haben die Seite von ARTE in Strassburg zu gestalten und die der Deutschen Bank.Natürlich sind sie heute 10% hoch gegangen,aber ????
Die Kürzungen sind bereits die zweiten innerhalb von nur vier Monaten. Bereits im Oktober wurden 200 Arbeitsplätze innerhalb einer innerbetrieblichen Umstrukturierung gestrichen. Jessica Nitschke, Sprecherin für Razorfish Deutschland, äußerte gegenüber INTERNET WORLD, daß derzeit noch nicht absehbar sei, wie sich der Abbau auf die drei Niederlassungen in Hamburg, München und Frankfurt auswirke. Zu erwarten sei eine Kürzung in Abhängigkeit von der Umsatzstärke und dem aktuellen Bedarf.
Bereits am 12. Dezember hatte das börsennotierte Unternehmen eine Gewinnwarnung für das vierte Quartal mit einem Verlust in Höhe von 0,17 bis 0,22 US-Dollar pro Aktien veröffentlicht. Präzise Zahlen werden für kommenden Donnerstag erwartet, wenn Razorfish (USA) die Ergebnisse für das vierte Quartal 2000 bekanntgeben wird. Zum Zeitpunkt der Bekanntgabe sank die Aktie an der Technologiebörse Nasdaq um fast acht Prozent auf 1,81 US-Dollar. Der absolute Jahres-Höchststand der Aktie betrug 56 US-Dollar. (sk)
Die Webagentur Razorfish hat gestern nach Börsenschluß zum ersten mal einen Verlust bekannt geben müssen. Demnach wurde ein Minus von 19,8 Mio. Dollar oder -20 Cents je Aktie ausgewiesen. Die Umsätze gingen auf 50 Mio. Dollar zurück.
Die gesenkten Erwartungen der Wallstreet wurden damit zwar erreicht, dennoch liegen diese Zahlen deutlich unter denen des Vorjahres. Damals wurde bei einem Umsatz von 52 Mio. Dollar ein Gewinn von 6 Cents je Aktie erzielt.
Erst vor wenigen Tagen gab das Unternehmen bekannt, 400 Arbeitsplätze zu streichen.
Die Aktie büßte im nachbörslichen Handel die Gewinne des regulären Handelstages wieder ein und schloss bei 1,7 Dollar.
09.02.01 07:58
MfG
coppara
For the fourth quarter ended Dec. 31, the digital design and consulting company reported a loss, before the amortization of intangibles and nonrecurring expenses, of $19.8 million, or 20 cents a share, matching Wall Street's lowered estimates. The company earned $5.8 million, or 6 cents a share, in the year-ago period.
Revenue fell to $50.1 million from $52.7 million in the same period last year.
Earlier this week, Razorfish axed 400 jobs around the world as part of an attempt to save about $70 million in 2001.
The New York-based company guided down in December, saying it expected to post a fourth-quarter loss of 17 cents to 22 cents a share, while analysts were looking for a profit of 2 cents.