Further update on SSA Restructuring

[Dennis Munro <DMunro@xxxxxxxxxxxxxxxxxxxx>]

The following is from Midrange Computing "Monday Morning AS/400 Update"
newsletter dated 7/12/99 written by Timothy Prickett Morgan, Editor:

SSA Outlines Restructuring Plans
======================================


System Software Associates (SSA) has provided details of the restructuring
that it announced it would be undertaking a few weeks ago. SSA says that it
will take a $22.8 million restructuring charge in its third quarter ended
July 31.  About $7.5 million of that will cover the costs of reducing its
current workforce by 320 people, about 16 percent of the current head count.
The remaining $15.3 million will also cover the costs of writing off other
assets, closing office space, and other goodwill currently on its books.
The company also announced that after a review of its tax assets, it would
be writing down an additional $34 million in tax assets. The latter
writeoffs, says SSA, will not have an impact on current cash and will not
affect the company's ability to use these assets in the future.  William
Steuk, chairman and CEO of SSA since last year, says that these actions are
aimed at returning his company to profitability by its next fiscal year,
which starts in November. If SSA and Hewlett-Packard, its partner on UNIX
and Windows NT servers, can get the NT version of its eBPCS enterprise
resource planning software out the door by that time, the company may be on
track to profitability and growth in early 2000.

Dilbert's Words Of Wisdom:
"I love deadlines.  I especially like the whooshing sound they make as they
go flying by."

Dennis Munro    
Badger Mining Corporation
dmunro@badgerminingcorp.com <mailto:dmunro@badgerminingcorp.com> 

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