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Sysdeco loses $2 million in quarter; CEO resigns. (Johs. Jamne) (Company Financial Information)(Brief Article)
The Sysdeco Group reported a net loss of 13.8 million Norwegian kroner ($2.1 million) for its first quarter, sparking the resignation of its CEO, Johs. Jamne. The company said that it was satisfied with its revenues, which were 155.3 million kroner (up from 75.7 million for the same quarter a year ago), but that its costs were too high. Jamne, who took full responsibility for the negative result in offering his resignation, said the target is to get back in the black "within 1996 or 1997." The loss wasn't a surprise. Sysdeco had earlier warned of a continuing downturn, attributing the problems to unexpected delays associated with integrating its acquisitions of 1995. …
