Borland has released its financial data for the last quarter and the entire 2007. Borland ALM revenues are declining, while CodeGear revenues are improving (still blaming CodeGear?) At 17 million dollar revenues, the 4th quarter has been the best for CodeGear (1st q was 14.1, 2nd was 13.6, 3rd was 12.5). However for the first time since Borland started to give detailed financial data for the CodeGear division, the failed to give the most important number, the CodeGear earnings. (If someone has the number ... I'm here).
Looking at previous quarters costs (averaging 12 millions) one might think CodeGear earnings could have been around 4 or 5 millions, but this is only a wild estimate. I wonder if they decided to withheld this information because they didn't want the ALM side of the company to look too bad. If overall Borland lost almost 3 millions in the quarter, this could mean a 7 or 8 million loss on the ALM plus services segments.
Borland also announced that it is reducing the valuation of its CodeGear asset by about 25 million dollars, as they probably think they will "divest" the division for a lower value than originally expected and written in their financial numbers. (Might that mean that the deal is getting closer?). Considering this and other factors, the BORL stock yesterday fell almost 25%, at a new low value below 2 dollars (today it is gaining quite a bit, 7% as I'm writing). The overall market capitalization of the company is at about 150 million, so one could buy the entire Borland for the amount CodeGear was said to be valued a couple of years ago. Quite astonishing, I have to say...