Key Developments For ModusLink Global Solutions, Inc.
ModusLink Global Solutions, Inc. (MLNK.O) (Nasdaq)
ModusLink Global Solutions, Inc. Comments On Q1 2010 Revenue Outlook
ModusLink Global Solutions, Inc. announced that for the first quarter of 2010, it expects revenues to be higher than the fourth quarter of 2009, although lower than the comparable year ago period. The Company reported revenue of $225 million in the fourth quarter of 2009.
ModusLink Global Solutions, Inc. Announces Share Repurchase
ModusLink Global Solutions, Inc. announced that its Board of Directors has authorized the repurchase of up to $15 million of the Company's common stock from time to time over the next 12 months.
ModusLink Global Solutions, Inc. Comments On Q4 2009 Revenue Outlook-Conference Call
ModusLink Global Solutions, Inc. announced that for the fourth quarter of 2009, it expects revenues to be down from the fourth quarter of 2008 but similar to revenues reported in the third quarter of 2009. The Company reported revenue of $231.5 million in the third quarter of 2009 and $276.3 million in the fourth quarter of 2008.
CMGI, Inc. Discontinues Stock Repurchase Program; Removes FY 2009 Guidance
CMGI, Inc. announced that it has it has discontinued its stock repurchase program. Under the program, initially announced on September 25, 2007, the Company was authorized to repurchase up to $50 million of the Company's common stock over an 18 month period ending in April 2009. The Company repurchased approximately 3.5 million shares for $38 million while the program was in effect. The Company also announced that due to degree of uncertainty in the marketplace, the Company has removed its revenue and operating income guidance for fiscal 2009.
CMGI, Inc. Revises FY 2009 Guidance; Anticipates Approximately 20% Job Cuts In Americas And Europe
CMGI, Inc. announced that it has revised its previously issued guidance for fiscal 2009 and now expects revenue in the range of $1.0 billion to $1.1 billion. The Company also expects operating income (loss) in fiscal 2009 to be in the range of breakeven to a loss of $20 million, assuming restructuring charges for the full fiscal year of $12 million to $17 million related to actions it is taking to reduce costs. The Company also anticipates that approximately 20% of its employee positions in the Americas and Europe will be eliminated by its restructuring actions in fiscal 2009.
