We delivered another record quarter, reflecting strong double-digit earnings growth consistent with our objectives, even though pre-currency revenue growth - at 7 percent - was clearly affected by some weaker economies,
More Quotes from Paul Allaire:
The disruptions in customer relationships caused by our sales force realignment, at a time when competitors have strengthened their product capabilities, is producing a drag on the second-quarter sales of our most profitable products.Paul Allaire
Clearly, the fact that our current expectation on the second quarter is less than we anticipated ... our recovery is pushed back in time. We do expect the turnaround to be there and be significant and therefore have an improvement in the second half and have good momentum going into 2001.
Paul Allaire
These results are obviously disappointing and completely unacceptable. Clearly, actions beyond resolving our operational issues are required, including major cost reductions, asset dispositions and a review of the dividend level. Aggressive actions to improve profitability in 2001 are being pursued.
Paul Allaire
We expect an earnings recovery in 2001 ... by strengthening our operations, improving our strong product offering and through significant cost reductions. We expect to achieve this, even if the economy and competing environment preclude any revenue growth in the year.
Paul Allaire
We were aware that we really had to change the cost structure of the company and change the investment profile and the focus to some degree and shed some assets in order to remain competitive, ... It is clear that just fixing our operational issues, although critical, is not sufficient.
Paul Allaire
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