ABC Money
Home


Intercontinental Mercantile Exchange (IMEX) Updates Revenue Outlook


Published :
Sat, 30 May 2009 12:54
By : 1888pressrelease.com
Print this Story


AddThis Social Bookmark Button

(1888PressRelease) May 30, 2009 - Based on preliminary information, revenue for the first quarter of fiscal 2009 exceeded the upper end of the previously stated guidance of $110 million for the first quarter of 2009, but represented a decline from revenue for the first quarter of 2008 of $125.6 million. The Company currently expects that it will report a net loss in the first quarter of 2009.



"We saw market softness across all of our segments driven by adverse macroeconomic conditions and the decline of the Euro," commented Bernard Smith, President and Chief Executive Officer of IMEX.



"We believe our products continue to perform well in relation to our respective markets but the increasingly competitive market is putting significant pressure on our product margins, especially in our optical components business. So far this year, we have implemented measures to reduce losses such as initiating selective layoffs, reducing compensation by 10 percent for directors and certain executives and employees, consolidating our operations, and negotiating cost savings with our suppliers."



IMEX currently estimates that revenue for the second quarter of 2009 will be in the range of $105 million to $125 million, compared to $147.6 million for the second quarter of 2008, and expects to report a net loss.



http://www.im-exchange.com

###








Share on



Comment on this Article
Comment:
Title:
Name:
Please Enter
 
Here
  

 Search News

 Look For
Business
Credit cards
Finance
Loans
Money
Mortgages

 
 Stock Quotes *
SYMBOL
LAST
CHANGE
DOW JONES
10340.69
-107.24 ( -1.03 %)
NASDAQ
2792.28
22.57 ( 0.81 %)
FTSE 100
5741.15
38.78 ( 0.68 %)

SYMBOL ( 2012-01-19 )
LAST
CHANGE
STANDARD CHARTERED ( 11:35am )
1559.00
70.00 ( 4.76 %)
WOLSELEY PLC ( 11:35am )
2250.00
70.00 ( 3.20 %)
CARNIVAL ( 11:35am )
2017.00
46.00 ( 2.42 %)
LAND SECURITIES GROUP ( 11:35am )
679.50
36.50 ( 5.63 %)
WHITBREAD ( 11:35am )
1662.99
33.99 ( 2.09 %)

SYMBOL ( 2012-01-19 )
LAST
CHANGE
3M COMPANY ( 12:34pm )
85.78
0.71 ( 0.83 %)
BOEING CO ( 12:34pm )
75.70
0.64 ( 0.85 %)
JP MORGAN CHASE CO ( 12:34pm )
37.03
0.49 ( 1.33 %)
IBM ( 12:34pm )
181.50
0.43 ( 0.24 %)
WAL MART STORES ( 12:34pm )
60.44
0.43 ( 0.72 %)

SYMBOL ( 2012-01-19 )
LAST
CHANGE
F5 NETWORKS INC ( 12:11pm )
122.38
13.92 ( 11.80 %)
ICO GLOBAL COMM CL A ( 8:01pm )
99999999.99
9.37 ( 366.02 %)
PRICELINECOM INC ( 12:23pm )
525.40
6.57 ( 1.26 %)
AMAZONCOM INC ( 12:04pm )
195.65
6.21 ( 3.25 %)
MILLICOM INTERNATIONAL CELLULAR SA ( 4:00pm )
110.18
4.82 ( 4.43 %)

Gainers & Losers
Dow Jones
Euro Stoxx 50
FTSE 100
FTSE 250
FTSE AIM
FTSE ALL
Nasdaq

 Portfolio Manager

You must log in to access this area of the site. If you are not a registered user click here to sign up for instant access!


 Finance Explained

Money making ideas

Save money

Money management
Savings accounts
Investing money
Share dealing
Stock broker
Forex currency trading
Pension plans
Functions of Money

(c) 2007 viploan.co.uk, All Rights Reserved
*viploan.co.uk does not guarantee the accuracy of any share prices or stock quotations displayed. These are not real time quotes; all are delayed by at least twenty minutes and are for information purposes only.