Blue Coat (BCSI) Announces Revenue Increasing Strategic Plan; Confirms Revs
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Blue Coat Systems, Inc. (NASDAQ: BCSI) today announced that it is implementing a strategic plan to drive future revenue growth and increase its non-GAAP operating profitability.
This plan includes:
- Entry into an agreement to acquire S7 Software Solutions Pvt. Ltd., an IT research and development firm based in Bangalore, India.
- Blue Coat also announced a corporate-wide restructuring program that includes a net reduction in headcount of approximately 10 percent.
The combination of the S7 Software acquisition and restructuring program is intended to enable the Company to more cost effectively develop new products and pursue new routes to market.
Blue Coat also announced preliminary, unaudited net revenue results for its second quarter of fiscal 2010, ended October 31, 2009, and confirmed that net revenue for its second fiscal quarter was toward the top end of its previous guidance of net revenue in the range of $116 to $121 million.
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"Restructuring"
FormerBC on Nov 5, 2009 10:25 AMI find it interesting that not only can Blue Coat coach the act of slashing their workforce as a "restructuring" instead of what it is - layoffs - but also that the stock bounds up a significant amount on that news. This action further reinforces the notion that the so-called 'analysts' really do not have a clue as to what reality it. By RIF'ing a substantial number of field sales people (of whom I was one on the technical side), they are severely limiting their ability to continue the growth needed to sustain the stock value. I was personally involved in closing substantial deals toward the end of the past quarter and had several others waiting in the wings for the next. Whom do they think will cover these now - someone the fly in from another city or state? Local customers want local presence and that is gone now. This will impact Blue Coat's ability to sell going forward, whether they admit or not.