Jul, 2001 : FutureLink Seeks Buyer For UK Operations
📅 - Application service provider FutureLink Corp. (futurelink.net) confirmed this week that it is actively investigating the sale of its U.K. operations.
FutureLink acquired the U.K. operations in November of 1999, when it bought the server-based computing and connectivity solutions distributor KNS Distribution Limited, and launched its ASP business as FutureLink Europe Ltd.
The company said in a statement released earlier this week that it has received non-binding indications of interest from potential buyers.
But FutureLink says that so far, it has no commitments or agreements with any of these potential purchasers.
The Lake Forest, California-based company employs more than 500 people, and operates offices in the U.S., Canada and the U.K.
In recent weeks, the company announced that it had successfully complied with the NASDAQ's standards for continued listing, when its stock, which has fallen from its 52-week high of $57.75, maintained a minimum bid price of $1.00 for ten consecutive trading days. FutureLink said its ticker symbol would return to FTRL from FTRLD as of July 10, 2001.
The company posted first-quarter revenues of $35.8 million, and a loss of $15.6 million. Shares in FutureLink closed at 95 cents on Tuesday, up 6 cents.
FutureLink acquired the U.K. operations in November of 1999, when it bought the server-based computing and connectivity solutions distributor KNS Distribution Limited, and launched its ASP business as FutureLink Europe Ltd.
The company said in a statement released earlier this week that it has received non-binding indications of interest from potential buyers.
But FutureLink says that so far, it has no commitments or agreements with any of these potential purchasers.
The Lake Forest, California-based company employs more than 500 people, and operates offices in the U.S., Canada and the U.K.
In recent weeks, the company announced that it had successfully complied with the NASDAQ's standards for continued listing, when its stock, which has fallen from its 52-week high of $57.75, maintained a minimum bid price of $1.00 for ten consecutive trading days. FutureLink said its ticker symbol would return to FTRL from FTRLD as of July 10, 2001.
The company posted first-quarter revenues of $35.8 million, and a loss of $15.6 million. Shares in FutureLink closed at 95 cents on Tuesday, up 6 cents.
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