Spotlight: Informix Reports Loss, Will Restate ’96 Results

Menlo Park-based Informix Corp. reported a substantial second-quarter loss and said it plans to restate 1996 results to reflect errors in the way it recorded revenue. The maker of software for database management reported a loss of $120.5 million, or 79 cents a share, for the period, which included a restructuring charge of $62.1 million related to job cuts and asset write-downs. In the second quarter of 1996, it earned $21.6 million, or 14 cents a share. Informix estimated that $70 million to $100 million in revenue will be adjusted.