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Yes, this company looks to be in trouble. I am including the latest press announcement here:

Tuesday July 8 6:31 PM EDT

Wall Data Shares Plunge on Earnings Outlook

By Kourosh Karimkhany

PALO ALTO, Calif. (Reuter) - Wall Data Inc. stock fell 36 percent Tuesday after the software company said it expects to report second-quarter earnings just half of what Wall Street had expected.

Wall Data also said late on Monday that it will pay $11.3 million to settle a shareholder lawsuit, an amount that raised concerns among some investors about the company's integrity.

The Kirkland, Wash., company also unexpectedly announced that Chairman Jim Simpson, 58, will retire at month's end.

Wall Data stock tumbled $9.875 to $17.875 and was one of the most active and one of the biggest losers on Nasdaq. The stock touched a low of $17.25.

Wall Data specializes in software that connects networks of personal computers to mainframes, a niche that was growing explosively until a few years ago. But more and more companies are using cheap Internet browsers, supplied by Netscape Communications Corp., Microsoft Corp. and others, to tap information stored on mainframes.

"It's getting very easy to make that connection" between PCs and mainframes, undercutting the price of expensive networking products like Wall Data's Rumba, said Eric Brown, senior analyst at market researcher Forrester Research Inc.

"Welcome to the Internet," Brown said.

After the market closed Monday, Wall Data said it expected earnings before charges of 17 cents to 20 cents a share for the quarter ended June 30. Analysts expected Wall Data to earn 34 cents a share, according to Zacks Investment Research.

Second-quarter revenue will be about $35.5 million, compared with $34.8 million a year earlier, it said. Wall Data said it was taking longer to sell products because customers were evaluating how to deal with the Internet.

The company also said it will take a $10.7 million charge in the quarter, mainly to settle a shareholder lawsuit filed after it announced an earnings shortfall and suffered a stock drop more than two years ago. Wall Data will pay $11.3 million in the settlement, $3 million of that covered by insurance.

The size of the settlement raised concerns among some investors. "Normally these things get settled for a paltry amount," one investor said.

But company Chief Financial Officer Richard Van Hoesen said the settlement was not unusual. "We were spending $100,000 a month on this. It was a huge burden on management," he said, adding it was better to settle than to go on fighting.
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