He believes that revenues will start to pick up soon, as the 86 new contracts signed in the first quarter start to bear fruit. But the stock market's skepticism is more deeply rooted than just one quarter's figures. This restatement had the effect of lowering the firm's reported losses in 1997 and 1998 and reducing profits for later years. But such restatements are not unusual among high-tech companies growing fast through acquisitions. Netscape and dozens of other companies restated 1998 earnings for the same reason.
Persistence is one reason.
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