AvantGo narrows loss, to cut work force

[Jason Dunn]

<a href="http://msnbc-cnet.com.com/2100-1040-946152.html?type=pt&part=msnbc&tag=alert&form=feed&subj=cnetnews">http://msnbc-cnet.com.com/2100-1040-946152.html?type=pt&part=msnbc&tag=alert&form=feed&subj=cnetnews</a><br /><br />Ouch - looks like AvantGo is having a tough time of things.<br /><br />"Software maker AvantGo reported a narrower-than-expected second-quarter loss and announced that it will lay off about 40 percent of its work force. The Hayward, Calif.-based company on Wednesday reported a net loss of $4.3 million, or 12 cents a share, on revenue of $5.3 million. In the same period a year ago, AvantGo had a net loss of $13.9 million, or 43 cents a share, on revenue of $6.5 million. <br /><br />Analysts were expecting a loss of 14 cents a share, according to a survey by First Call. The company, which makes software for mobile devices, had $37.6 million in cash and cash equivalents for the quarter ending June 30." Source: Randy

[pt]

from where i sit as someone who needs and wants to provide rich content to pda users, both through the cradle and over the air, avantgo hasn't been a player in my mind, supporting new formats like audio, video, and more would have let me to use them for a large number of real paying projects. instead we've moved to other solutions. i've pinged them many times, but it seems that's not nor will it ever be the focus. maybe my needs aren't on the radar, and that's fine, it might be too small to go after.

what do ya'll think? should they comsider supporting more, after all it's all built into our devices. moving content from the web to the device is the last mile that's still not there. mycasio and mazingo are getting close, but it would be great to see avantgo lead the charge too.

cheers,
pt

[JonnoB]

I am with you pt... Our PPCs are capable of such rich content as you have done a good job of making happen. It is shortsighted of AvantGo not to extend on this front and extend with rich web media content.

If Mazingo could improve the speed of content delivery to something near what Avantgo has, it would be the final nail in Avantgo consumer content on PDAs.

[Paragon]

Why is it I can't get a bank manager like some of these 'can't make a dime' companys. Avantgo has lost millions. In fact it seems to be loosing $2.00 for every $1.00 it makes. Yet it has 37.6 million in cash....who's the idiot giving this company money. Geez, give me a fraction of that and I will see that you at least get a return on your money. :roll:

Dave

[Foo Fighter]

Poor AvantGo. And I mean that literally. :?

This was by far the biggest..best killer app on the Palm and Palm-size PC platforms. Certainly the most addictive. I think this company's days are numbered. Hopefully a large media company like AOL-Time Warner will gobble them up. Wait! What the hell am I saying?!?! :oops: :lol:

[jsjxyz]

I hope microsoft coming to the rescue to take Avantgo before Palm take the first move (like the way Palm acquire Peanutpress).

[juni]

I was an avid Avantgo user when I got my first Palm and then continued when I got my first Ipaq - but then, after several problems with slow content downloading etc. - I just don't use it anymore.

I much prefer to read magazines and ebooks through Microsoft Reader, which is a million times more pleasurable than using Pocket IE.

I would like to see some application grab webpages and convert them into .lit books. Perhaps like the Palm's Isilo?

[Take1]

Mazingo's great for the PPC and it's simply sucks on the Palm -- if AvantGo dissapears, then Palmites will not have a great time of it. I really dont' like the convert web page to document type stuff as it's time consuming - that's why AvantGo and Mazingo are great.

[Marc Zimmermann]

Yet it has 37.6 million in cash

Cash and cash equivalents. That includes patents and what they're considered to be worth. I don't think that AvantGo has that much of real money.

[wm5051]

These discussion boards continually surprise me. The company reported that they had a 'narrower-than-expected second-quarter loss.' This is good news for AvantGo. They performed better than the street expected.

Granted a 40% reduction in staff is not what anyone would consider a 'good sign,' but how many companies have not cut staff in the past year? AvantGo is still here and forecasting that they may hit break-even (profitability) by the fourth quarter this year and that is something not many start-ups have done in the past two years.

These guys are an enterprise focused organization. I have no problem with criticisms of their products, but look at the overall financial picture before counting these guys out.

[Paragon]

Yet it has 37.6 million in cash

Cash and cash equivalents. That includes patents and what they're considered to be worth. I don't think that AvantGo has that much of real money.

I don't know Mark, are you sure? I would call patents 'assets' and 'cash equivelants' cash, bonds, etc. Thinks that have a cash value, and can be 'cashed' in easily.

Dave

[cwharper]

AvantGo works well for what I use it for. I get USA Today clips and stock updates that I can skim when I'm standing in line or waiting for a meeting to start. If you keep the content reasonable you get pretty quick download performance...