FRAMINGHAM (02/04/2000) - Baan Co. reported a $236.2 million loss for the fourth quarter of last year, as the Netherlands-based software vendor forewarned last month. It was the sixth straight quarterly loss for Baan, which has had four CEOs since mid-1998. Fourth-quarter revenue totaled $143.3 million, up 9 percent from $131.1 million in the last three months of 1998.
Pleasanton, Calif.-based PeopleSoft Inc., another business applications vendor that struggled last year, reported a $21 million operating profit for the fourth quarter last year. That number was down 87 percent from the year-earlier total of $164.1 million, and revenue dropped 9 percent to $372.3 million. Costs related to an acquisition left PeopleSoft with a $5.6 million net loss in the fourth quarter as expected.
Intel Corp. said it will buy Costa Mesa, Calif.-based Rockwell International Corp.'s wafer fabrication facility in Colorado Springs under undisclosed terms.
Intel said it would invest up to $1.5 billion at the vacant plant to boost the plant's chip-making capacity.
AT&T Corp. registered with the Securities and Exchange Commission its plan to make an initial public offering in April for stock in its AT&T Wireless Services Inc. group in Redmond, Wash.
Cisco Systems Inc. said James Richardson, head of the San Jose-based networking vendor's Europe, Middle East and Africa unit, will become senior vice president of the company's enterprise business June 1.
Rochester, New York-based Eastman Kodak Co. and Hewlett-Packard Co. formed a joint venture to develop a system that offers digital imaging capabilities for both traditional film and digital files,using high-resolution scanning and imaging technologies. The venture is expected to offer products next year and generate $500 million to $1 billion in revenue by 2005.
British Telecommunications PLC in London said it will lay off 3,000 managers after reporting a 24 percent dip in quarterly profits, to $1.05 billion.