Inktomi Corp. today announced a restructuring to 'better align its operating expenses with revenues'.
The move will see Inktomi eliminate approximately 85 positions, or about 20 percent of its staff, bringing the Inktomi workforce to approximately 300 employees.
The company also stated that it expects to report revenues of approximately $20 million and pro forma net loss in the range of $0.05-$0.07 per share for the quarter ended September 30, 2002.
"Current economic conditions in enterprise software mandate that Inktomi further adjust its cost structure to move towards cash flow breakeven performance," said David Peterschmidt, president and CEO of Inktomi. "Inktomi's focus remains steady on providing search solutions for the Web and enterprise markets as we continue to see long-term growth potential for our products."
Inktomi will hold a conference call and audio Webcast to report results for the quarter ended September 30, 2002 and fiscal year 2002 on Thursday, October 24, 2002 at 4:30 p.m. EDT, 1:30 p.m. PDT.
The Webcast can be accessed at http://www.inktomi.com / webcast.
