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MetaSolv Delays Q3 Numbers

Light Reading
News Analysis
Light Reading
10/27/2004

Does this sound familiar? A telecom vendor has delayed the presentation of its financial results because of "revenue recognition" issues.

No, we're not talking about Sonus Networks Inc. (Nasdaq: SONSE). The softswitch vendor resolved its protracted problems in August, and subsequently relisted on Nasdaq (see Sonus: Whew! and Sonus Soothes Numbers Nerves).

Now it's the turn of MetaSolv Software Inc. (Nasdaq: MSLV) to worry its investors. This morning, and less than 10 hours before it was due to host a conference call about its latest figures, the OSS vendor issued a statement saying it has rescheduled its third-quarter numbers release and conference call until next Wednesday, November 3. The reason? An "unanticipated delay in agreeing with its auditors on the timing of revenue recognition for two contracts executed and delivered in the third quarter." Its auditor is KPMG.

MetaSolv did note, however, that it expects those quarterly numbers to be within the guidance it gave in July, when it announced its second-quarter results (see MetaSolv Cuts Q2 Loss)...

Get the full story on Next Generation Services.

— Ray Le Maistre, International News Editor, Light Reading

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