Versant - Back to Profit

Fremont, California, June 14, 2004 - Versant Corporation (NASDAQ: VSNT), announced today a multi-element restructuring plan designed to refocus the company on its core object database business, yield substantial cost savings and return the company to profitability. The key elements of the plan include short-term consolidations at both the executive and operational level that are planned to deliver significant quarterly cost savings to the company.

As a result of these changes, Nick Ordon, Chairman, President and Chief Executive Officer, and Lee McGrath, Chief Financial Officer, are leaving the company and Mr. Ordon is resigning from Versant’s Board of Directors. Jochen Witte, Versant’s President of European Operations, will assume the roles of Chief Executive Officer and Chief Financial Officer. Immediately prior to joining Versant Mr. Witte was the President and Chief Executive Officer of Poet Holdings, Inc., a company he co-founded and merged with Versant in March 2004. These executive changes are effective June 15, 2005, though Mr. Ordon and Mr. McGrath will be available to the company in a transitional capacity for a limited additional time.
“The first and foremost goal of this company is running a consistently profitable operation. The moves we are taking are expected to dramatically streamline and simplify our operations, while maintaining the necessary expertise and functional capability to address the requirements of our current and future customer set,” said Nick Ordon.

“Versant has a blue-chip customer base that is building some of the most demanding applications imaginable based on our object database technology”, commented Jochen Witte. “I am a strong believer in this technology, and in the market place we serve. I am also a strong believer in focus. And the focus of Versant going forward will be its core database business.”

Hank Delevati, Versant Director and Chair of Versant’s Nominating Committee added, “Nick and Lee’s proposal of this restructuring plan, which after consideration, the Board has approved, is consistent with the solid leadership they have provided in guiding Versant for several years. The Board has high confidence that Jochen Witte is the right person to provide the necessary leadership as Versant moves forward. He has been in this market for over 15 years and he led a similar restructuring of Poet Holdings, Inc. three years ago.”

Finally, in response to NASDAQ’s deadline for Versant to regain compliance with NASDAQ’s minimum bid price listing requirement, the company plans to seek shareholder approval to implement a reverse split of the company’s common stock, to address this deficiency.

Ja, die wird leider schon wieder als "Pennystockrakete"
verkannt.

Hier sind ein paar Links mit Infos dazu:

http://www.ariva.de/board/225949#jump2025377

Ich würde allerdings empfehlen sich die Finandaten auf yahoo dazu genau anzuschauen. Eine riskante Turn around-Spekulation in meinen Augen.

Welche Turnaroundstory ist nicht risikoreich ? Dessen muß man sich immer bewußt sein.

Es geht los
Whyso

Mal sehen ob es auch dem Kurs in Frankfurt auf die Beine hilft.

Gute Nacht
Claudia

Amerika zeigte erhöhte Handelsbedarf auf letzte Woche, Deutschland schläft noch....
Watch VSNT!
Whyso

Zahlen am 8. Dezember angekündigt. Mal schauen inwiefern eine Restrukturierung erkennbar wird.