07-24-2002, 11:52 PM
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Executive Editor
Join Date: Aug 2006
Posts: 29,160
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AvantGo narrows loss, to cut work force
http://msnbc-cnet.com.com/2100-1040-946152.html?type=pt&part=msnbc&tag=alert&form=feed&subj=cnetnews
Ouch - looks like AvantGo is having a tough time of things.
"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.
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
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07-25-2002, 12:19 AM
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Thinker
Join Date: Feb 2002
Posts: 355
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Re: AvantGo narrows loss, to cut work force
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
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07-25-2002, 12:40 AM
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Mystic
Join Date: Jul 2003
Posts: 1,768
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Mazingo
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.
__________________
Jonathan (JonnoB)
"All that is necessary for the triumph of evil is that good men do nothing." -Edmund Burke
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07-25-2002, 02:51 AM
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Magi
Join Date: Sep 2005
Posts: 2,341
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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
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07-25-2002, 04:10 AM
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Pontificator
Join Date: Jul 2003
Posts: 1,466
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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?!?!  ops: :lol:
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07-25-2002, 05:14 AM
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Pupil
Join Date: Feb 2002
Posts: 17
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Microsoft Avantgo anyone?
I hope microsoft coming to the rescue to take Avantgo before Palm take the first move (like the way Palm acquire Peanutpress).
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07-25-2002, 06:14 AM
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Sage
Join Date: Aug 2006
Posts: 761
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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?
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07-25-2002, 07:57 AM
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Intellectual
Join Date: Feb 2002
Posts: 168
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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.
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07-25-2002, 09:11 AM
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Intellectual
Join Date: Jul 2003
Posts: 248
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Quote:
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Originally Posted by Paragon
Yet it has 37.6 million in cash
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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.
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07-25-2002, 07:14 PM
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Pupil
Join Date: Mar 2002
Posts: 24
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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.
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