DOCSLIB.ORG

In Re Portal Software, Inc. Securities Litigation 03-CV-5138

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
In Re Portal Software, Inc. Securities Litigation 03-CV-5138 EXHIBITS K-T C:\NrPortbl\PALIB1\TB5\2807781_1.DOC (11) Exhibit K J PRESS RELEASE P,..) RT/' L- 10200 k,tr, D Mrs avo C 4 v . CA SSW 4 wxw. ca :.LC.• ~• 'c k75 .= : : :!+! G Portal Software Lowers Third Quarter Revenue and Earnings Estimates CUPERTINO, Calif.. (November 13. 2003) - Portal Software. Inc. (Nasdaq: PRSF) today announced that revenue and earnings for its third quarter ended October 31 . 2003 are expected to be below the Company's prior guidance provided in its financial results press release on August 19, 2003. Revenue for the third quarter is now expected to be in the range of $25 million to $26 million. Both license and services revenue declined on a sequential basis. The Company expects to report a pro forma loss in the range of $0.27 to $0.31 per share for the quarter and a loss on a GAAP basis in the range of $0.36 to $0 .40 per share for the quarter. Pro forma amounts in the third quarter of fiscal year 2004 exclude amortization of acquisition-related costs of $0.7 million and a stock option compensation charge of $3 .0 minion. AS we continue our evolution from a product to a solutions company, we are working with larger companies on longer-term projects requiring more complex , end-to-end solutions and increasing demands on our solutions delive ry capabilities.' said John Little. Portal's founder and CEO. "As a result, two factors primarily contributed to revenues and earnings coming in below expectations: timing and services execution. The majority of our shortfall, is due to contract delays and revenue recognition deferrals, particularly with our existing Tier 1 customers. We also experienced some services execution issues that have resulted in a shortfall in services revenues and higher costs that, along with the higher m ix toward services is expected to reduce gross margins to around 50%. Nevertheless, we remain confident that we understand the steps needed to improve our execution , that our strategy is the right one, and that we are well-positioned for the futu re . ' Portal will conduct a conference call and an audio webcast today at 3 :00 p.m . PST/6:00 p .m. EST . The dial-in number is (800) 289-0496 . or (913 ) 981-5519 . passcode 613620 . A recording of this call will be available for replay for 12 months beginning at 6 :00 p.m . (PST)/9 :00 p .m. EST. The number for the re play is (888) 203 -1112, or (719) 457-0820, passcode 613620. The web cast can be accessed at For those unable to listen to the live web can. a replay will be available for 12 months. Portal Software will report final results for the quarter ended October 31 . 2003, on November 20 . 2003. Details about the call can be found on Portal's investor relations webslte, at www.portal.com. 0 About Portal Software, Inc. Portal Software provides flexible billing and subscriber management solutions to enable organizations to monetize their voice and digi tal transactions . Portal's convergent billing platform enables service providers to charge , bill, and manage a wide range of services via multiple networks, payment models . pricing plans . and value chains . Portal's flexible and scalable product- based solutions enable custome rs to introduce new value added services quickly. providing maximum business value and lower total cost of ownership. Portal's customers include thirty-five of the top fifty wireless carriers as well as organizations such as Vodafone . AOL Time Warner. Deutsche Telekom. TELUS, NIT, China Telecom . Reuters. Telstta, China Mobile . Telenor Mobil, and France Telecom. For more information, please visit www.portal.com.• Statements in this release concerning Portal Software . Inc.'s esti mated financial and operating results are forward looking statements for purposes of the Safe Harbor provisions under the Private Securities Litigation Reform Act of 1995 . which involve a number of uncertainties and risks. Factors that could cause actual results to differ materially in clude the completion of the company's regu lar quarterly accounting and financial reporting processes. including but not limited to, revenue recognition review of transactions and review of expense accruals. An statements made in this press release are made only as of the date set fo rth at the beginning of this release. Portal undertakes no obligati on to update the information in this release in the event facts or circumstances subsequently change after the date of thi s press release . CopyrightO 2003 Portal Software . Inc All rights revved. Intranet and the Portal logo are U .S . registered trademarks. and Portal is a trademark of Portal Software . Inc . An other trademarks are the property of their respective owners. All statements made in this press release are made only as of the date set fo rth at the beginning of this release . Portal undertakes no obligation to update the information in the event facts or circumstances subsequently change. 7 Exhibit L Portal: Sprint Canada Implements Converged Wireline and Wireless Service Using Portal Software Page 1 of 2 1 Ril ' S RELEASE S ARC€_S 'y `( H S MM'NAR Sprint Canada Implements Converged Wireline and Wireless Service Using Porta l Software ' .E::`YT .rMONI.A° CUPERTINO, CA (December 2, 2003)-Portal Software, Inc. (Nasdaq : PRSF) today announce d A'_30 .? 1 "<;)R r `~i- that Sprint Canada has implemented Portal's billing platform for its new home phone and Fido ® wireless service bundle . Sprint Canada is a leading Canadian provider of integrated voice an d a data communications solutions to consumers and businesses . Faic 'Sheet Sprint Canada selected Po rt al 's software to seamlessly integrate the billing platform for the hom e phone, wireless bundle with the Company's existing billing system . Portal previously worked with ' R CON TAB- ! Sprint Canada to provide the integrated billing platform for its residential Internet access service . "We were seeking a high quality cost-effective solution, and Portal offered us the best overall value based on our service needs," said Ian Pattinson, vice president, Change Integration, Core & Emerging, Consumer Services Group, Sprint Canada . "Portal's convergent billing platform allowed us to complete the complex implementation while ensuring our aggressive launch deadlines were met. " Sprint Canada uses the Portal platform to process all charges associated with GSM wireless voice including home and roaming usage, SMS text messaging, GPRS data services, as well as recurring and non-recurring fees such as free minutes, and discounting. In addition, Sprint Canada customer service representatives use Portal's intuitive graphical Customer Center to assign phone numbers and GSM SIM cards, manage rate plans, and efficiently support customers. "Providers use our software to streamline the process of delivering new services to help retain existing customers while attracting new ones," said Kris Nagel, vice president and general manager, Americas, Portal Software, Inc . "Portal's solution offers providers the flexibility to rapidly launch new converged services, while reducing their ongoing total cost of operations . " About Portal Software, Inc. Portal Software provides flexible billing and subscriber management solutions to enable organizations to monetize their voice and digital transactions. Portal's convergent billing platform enables service providers to charge, bill, and manage a wide range of services via multiple networks, payment models, pricing plans, and value chains . Portal's flexible and scalable product-based solutions enable customers to introduce new value added services quickly, providing maximum business value and lower total cost of ownership . Portal's customers include thirty-five of the top fifty wireless carriers as well as organizations such as Vodafone, AOL Time Warner, Deutsche Telekom, TELUS, NTT, China Telecom, Reuters, Telstra, China Mobile, Telenor Mobil, and France Telecom . ## # http://www .portal .com/news-events/press-releases/release_2003/sprint_canada .htm 12/6/2005 Portal: Sprint Canada Implements Converged Wireline and Wireless Service Using Portal Software Page 2 of 2 Media Contac t Kevin Payne , kpayne©alr ortal .com, 408-572-3614 Forward Looking Statemen t Statements in this release contain forward looking statements that involve uncertainties and risks . These and other factors are described in detail in our Annual Report on Form 10-K for the fiscal year ended January 31 , 2004 and our quarterly reports on Form 10-Q. All statements made in this press release are made only as of the date set forth at the beginning of this release . Portal undertakes no obligation to update the information in this release in the event facts or circumstances subsequently change . Portal has inserted into several releases links to other parts of the Portal Web site containing related topics . Portal press releases speak only as of the date of their release, and Portal makes no effort to update the content subsequently . No inference should be drawn that the continuing presence of a release in this historical archive means that the information contained in it continues to be accurate or complete . HOME ; PORTAL 7 i MARKS-S ! NEWS I ALLIANCES I SERVICES I COMPANY I CUSTOMERS I CONTACT ' SITEMAP I SEARC H Chma 7epa n i'ort ., . : oftwe c, .-. rxi ilres€,t:: ese€v 3~ane n: rk Inior ration en Povacy €~clic y .. rf r p.E t, _ ~'; ,7,, u ... 'Cupertino,E rt_~ s. il=~ • ; ~. ci CA f~<3i Jt.~ 4 c 572j G~~•~ 1 http :/iwww.portal.com/news-events/press-releases/release_2003/sprint_Canada .htm 12/6/2005 Exhibit M Portal Software, Inc . Page 1 of 6 Portal Reports Fourth Quarter Results and Results for Fiscal Year 200 4 CUPERTINO, Calif .--(BUSINESS WIRE)--Feb . 24, 2004-- Portal Software, Inc . (Nasdaq :PRSF), a leading provider of billing and customer management software, today reported financial results for the fourth quarter and fiscal year ended January 30, 2004.
Load more

Recommended publications
  • In Re Portal Software, Inc. Securities Litigation 03-CV-5138
    Case 3:03-cv-05138-VRW Document 148 Filed 03/08/2006 Page 1 of 3 1 BORIS FELDMAN, State Bar No. 128838 NINA F. LOCKER, State Bar No. 123838 2 PERI NIELSEN, State Bar No. 196781 RANDOLPH GAW, State Bar No. 223718 3 WILSON SONSINI GOODRICH & ROSATI Professional Corporation 4 650 Page Mill Road Palo Alto, CA 94304-1050 5 Telephone: (650) 493-9300 Facsimile: (650) 565-5100 6 Email: [email protected]; [email protected]; [email protected]; [email protected]; 7 [email protected] 8 Attorneys for Defendants PORTAL SOFTWARE, INC., JOHN E. LITTLE, HOWARD A. BAIN, III 9 and ARTHUR C. PATTERSON 10 11 UNITED STATES DISTRICT COURT 12 NORTHERN DISTRICT OF CALIFORNIA 13 14 In re PORTAL SOFTWARE, INC. ) CASE NO.: C-03-5138 VRW SECURITIES LITIGATION ) 15 _______________________________________ ) SUPPLEMENTAL DECLARATION ) OF RANDLOPH GAW IN SUPPORT 16 This Document Relates To: ) OF DEFENDANTS’ MOTION TO ) DISMISS PLAINTIFFS’ FOURTH 17 ALL ACTIONS. ) CONSOLIDATED AMENDED ) COMPLAINT 18 ) ) Date: March 23, 2006 19 ) Time: 2:00 p.m. ) Dept: Courtroom 6 20 ) ) Before: Hon. Vaughn R. Walker 21 ) ) 22 ) ) 23 24 25 26 27 28 SUPP. DECL OF GAW ISO C:\NrPortbl\PALIB1\TB5\2831069_1.DOC DEFS. MTN TO DISMISS FCAC C-03-5138 VRW Case 3:03-cv-05138-VRW Document 148 Filed 03/08/2006 Page 2 of 3 1 I, Randolph Gaw, declare as follows: 2 1. I am an attorney duly licensed to practice law before this Court, and am associated 3 with the law firm of Wilson Sonsini Goodrich & Rosati, Professional Corporation, counsel of 4 record for Defendants Portal Software, Inc.
    [Show full text]
  • 3GPP/OP#9 Meeting Ottawa, Canada 2 May 2003 3GPP/OP#9(03)
    3GPP/OP#9 Meeting 3GPP/OP#9(03)08 Ottawa, Canada 4 April 2003 page 1 of 13 2 May 2003 Source: FFG Chairman Title: Year 2003 Budget and Partner Contributions Agenda item: 6.3 Document for: Decision X Discussion Information 1 Year 2003 Budget 1.1 Support Budget The 2003 MCC support budget was discussed and agreed in principle during OP#8 in St Paul de Vence (see report of OP#8 given in OP#8(02)09). The basis for the 2003 was recorded as below: Budget Line 2003 proposed allocation at OP#8 (kEUR) MCC Staff 1000 Additional support staff 150 MCC Contractors 1963 Travel and subsistence 700 Overheads 1784 Contingency 200 Sub Total 5 797 However, it was agreed to reduce the budget given above by a further 250 kEUR. The precise budget lines where further reductions should be made was left for the discretion of the MCC in consultation with FFG, but the aim was to retain the same service level within 3GPP wherever possible. The precise budget line allocations were derived as given in the following tables by FFG and should now be approved by this OP meeting. page 2 of 13 Budget Line 2003 proposed allocation at FFG#10(kEUR) MCC Staff 970 Additional support staff 150 MCC Contractors 1832 Travel and subsistence 680 Overheads 1706 Contingency 200 Sub Total 5 538 The revised support budget proposal given above is derived at Annex A: 1.2 Specific tasks budget The Partners agreed to the following allocation for the continuation of Task 160 (TTCN).
    [Show full text]
  • In Re Portal Software, Inc. Securities Litigation 03-CV-5138
    Case 3:03-cv-05138-VRW Document 145 Filed 02/08/2006 Page 1 of 5 1 LERACH COUGHLIN STOIA GELLER RUDMAN & ROBBINS LLP 2 SANFORD SVETCOV (36561) 100 Pine Street, Suite 2600 3 San Francisco, CA 94111 Telephone: 415/288-4545 4 415/288-4534 (fax) [email protected] 5 – and – SAMUEL H. RUDMAN 6 ROBERT M. ROTHMAN (Pro Hac Vice) RUSSELL J. GUNYAN 7 58 South Service Road, Suite 200 Melville, NY 11747 8 Telephone: 631/367-7100 631/367-1173 (fax) 9 [email protected] [email protected] 10 [email protected] 11 Lead Counsel for Plaintiff and the Class 12 GREEN WELLING LLP ROBERT S. GREEN (136183) 13 235 Pine Street, 15th Floor San Francisco, CA 94104 14 Telephone: 415/477-6700 415/477-6710 (fax) 15 Liaison Counsel for Plaintiff and the Class 16 UNITED STATES DISTRICT COURT 17 NORTHERN DISTRICT OF CALIFORNIA 18 In re PORTAL SOFTWARE, INC. ) Master File No. C-03-5138-VRW 19 SECURITIES LITIGATION ) ) CLASS ACTION 20 ) This Document Relates To: ) DECLARATION OF SANFORD SVETCOV 21 ) IN SUPPORT OF PLAINTIFFS’ ALL ACTIONS. ) OPPOSITION TO DEFENDANTS’ MOTION 22 ) TO DISMISS FOURTH CONSOLIDATED ) AMENDED COMPLAINT 23 DATE: March 23, 2006 24 TIME: 2:00 p.m. COURTROOM: 6, Hon. Vaughn R. Walker 25 26 27 28 Case 3:03-cv-05138-VRW Document 145 Filed 02/08/2006 Page 2 of 5 1 I, Sanford Svetcov, declare as follows: 2 I am a partner in the Lerach Coughlin Stoia Geller Rudman & Robbins LLP law firm, lead 3 counsel for plaintiffs and the class in this action.
    [Show full text]
  • Communications Market Report 2009-2014
    APPS RUN THE WORLD Communications Vertical Applications Market Report 2009-2014, Profiles Of Top 10 Vendors 7/30/2010 Copyright © 2010, APPS RUN THE WORLD Table of Contents Summary ..................................................................................................................................... 4 Top Line and Bottom Line ..................................................................................................... 4 Market Overview ...................................................................................................................... 4 Implications Of The Great Recession of 2008-2009..................................................... 5 Customers ................................................................................................................................... 5 Top 10 Apps Vendors In Vertical ........................................................................................ 6 Vendors To Watch .................................................................................................................... 6 Outlook......................................................................................................................................... 6 SCORES Box Illustration......................................................................................................... 7 2 Profiles of Top 10 Apps Vendors ............................................................................................................................ 8 Amdocs .......................................................................................................................................................................................
    [Show full text]
  • Portal to Deliver Next-Generation Billing Solutions to Vodafone
    Portal to Deliver Next-Generation Billing Solutions to Vodafone Operating Companies Worldwide Submitted by: Portal Software DEAD (bought by Oracle) Thursday, 2 September 2004 Portal to Deliver Next-Generation Billing Solutions to Vodafone Operating Companies Worldwide New Global Framework Agreement establishes Portal as a preferred strategic billing solutions provider to Vodafone NEWBURY, UK and CUPERTINO, CA (September 2, 2004) – Portal Software Inc. (Nasdaq: PRSF), the leading worldwide provider of billing solutions for the global communications and media markets, and Vodafone Group Plc, the world’s largest mobile telecommunications company, today announced two developments that expand Portal’s existing strategic relationship with Vodafone Group. Building on their long-term worldwide relationship, Vodafone Group and Portal have agreed on a global billing development program to standardize the creation and implementation of billing solutions for Vodafone Group Companies. Further recognizing Portal’s role as a preferred Vodafone solutions provider, Portal also announced today that it has signed a strategic Global Framework Agreement with Vodafone Group. The agreement establishes a comprehensive pricing and services framework for the deployment of Portal’s solutions by any of Vodafone’s operating companies worldwide, accelerating the speed and ease of implementation of Portal’s next-generation billing solutions. “Vodafone’s vision is to build one global brand and customer experience, and we look forward to growing our successful partnership to help them achieve this goal,” said John Little, founder and CEO of Portal Software Inc. “Our tight co-operation with Vodafone positions us to define billing strategies that will strengthen Vodafone’s competitive position and differentiate the Vodafone brand worldwide.” Portal’s revenue management platform currently powers Vodafone’s highly successful Vodafone live!™ offering, and is one of the preferred billing solutions for Vodafone operating companies worldwide.
    [Show full text]
  • Operating Instructions Fieldgate FXA520 Gateways/Interfaces
    Operating Instructions Fieldgate FXA520 Gateways/Interfaces BA258F/00/en/08.05 Valid as of software version V 01.02.03 Brief operating instructions Fieldgate FXA 520 Brief operating instructions Installation and mounting see KA 193F/00/a6 Commissioning Establishing Establishing Establishing Establishing a connection with an Ethernet an analogue modem a GSM modem the PC cable connection connection connection see chapter 2.3 see chapter 2.4 see chapter 2.5 see chapter 2.6 Configuration see chapter 4...9 L00-FXA520xx-05-00-00-en-002 2 Endress+Hauser Fieldgate FXA 520 Table of contents Table of contents 1 Introduction . 5 11 Hardware locking . 126 1.1 Licensing agreement . 5 1.2 Registered trademarks . 5 12 WAP function . 128 1.3 Conventions used in the manual . 5 1.4 System requirements . 6 13 Data Logging . 130 1.5 Scope of delivery . 7 13.1 Structure and contents of the recorded data 2 Commissioning . 8 in the "history.xml" document . 130 13.2 History interrogation with user ID . 132 2.1 Installation and mounting . 8 13.3 Time stamp with manual time entry . 133 2.2 Display and operating elements . 16 13.4 Maximum number of data records that can 2.3 Establishing a connection with PC cable . 18 be saved . 134 2.4 Establishing an Ethernet connection . 34 13.5 Functions in the "Scan Control" menu . 135 2.5 Establishing an analogue modem connection . 38 13.6 Functions in the "Network Setup" menu . 136 2.6 Establishing an GSM modem connection . 47 14 Structure of the XML data . 137 3 Configuration .
    [Show full text]
  • List of Section 13F Securities, Fourth Quarter 2003
    OFFICIAL LIST OF SECTION 13(f) SECURITIES USER INFORMATION SHEET General This list of "Section 13(f) securitiesnas defined by Rule 13f-1(c) [I7 CFR 240.13f-1(c)] is made available to the public pursuant to Section13 (f) (3) of the Securities Exchange Act of 1934 I1 5 USC 78m(f) (3)]. It is made available for use in the preparation of reports filed with the Securities and Exhange Commission pursuant to Rule 13f-1 [17 CFR 240.13f-I] under Section 13(f) of the Securities Exchange Act of 1934. An updated list is published on a quarterly basis. This list is current as of December 15, 2003, and may be relied on by institutional investment managers filing Form 13F reports for the calendar quarter ending December 31, 2003. Institutional investment managers should report holdings-number of shares and fair market value-as of the last day of the calendar quarter as required by [ Section 13(f)(l) and Rule 13f-?] thereunder. Features (1) Additions and Deletions: Revisions made to the list of Section 13(f) securities are indicated in a column titled "STATUS." The word "ADDED" in the status column opposite the name of a security indicates that the security has become a Section 13(f) security. The word "DELETED" in the status column opposite the name of a security indicates that the security ceases to be a 13(9 security since the date of the last list. (2) List of options: An asterisk is placed next to the name of any security having a listed option and each option is individually listed with its own CUSlP number immediately below the name of the security having the option.
    [Show full text]
  • In Re Portal Software, Inc. Securities Litigation 03-CV-5138
    IN THE UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF CALIFORNIA IN RE PORTAL SOFTWARE, INC ) NO . C-03-5138 VRW SECURITIES LITIGATION ) DECLARATION OF DAVID J. ROSS 1. QUALIFICATIONS 1 . I, David J . Ross, am Senior Vice President of Lexecon, a consulting firm that specializes in the application of economics to a variety of legal and regulatory issues . Among the staff and professional affiliates of Lexecon are several prominent academics and a group of full time economists, accountants, computer programmers, and research assistants . At Lexecon, I have specialized in the areas of financial economics and the economics of corporate law. I have worked on hundreds of matters involving a wide variety of financial issues . 2 . I have published a number of articles including articles which , among other things, discuss the economic analysis of securities fraud claims . My curriculum vitae, which contains a list of my publications and other professional activities, is attached as Exhibit A. 3 . I received a B .A. in economics from the University of Chicago in 1983 . In 1985, I received an M.B.A. from the Graduate School of Business at the University of Chicago, having completed the specialization requirements in economics , finance and industrial relations. 4 . I have testified as an expert witness regarding a wide variety o f financial issues in proceedings throughout the United States, including testimony as a n expert witness in cases involving claims of securities fraud . The cases in which I hav e previously testified as an expert are listed on Exhibit A . 1. INTRODUCTION AND SUMMARY OF CONCLUSION S 5 .
    [Show full text]