Inprise Looks Set To Click Again

Inprise (INPR)--soon to be renamed Borland Software--was a stock that Kai Tao of Watson Asset Management loved to hate: The provider of Internet-access infrastructure and software application tools kept losing money. So when the board pushed out CEO Delbert Yocum and CFO Kathleen Fisher on Mar. 31, 1999, Tao applauded. Now he's impressed with the new team, led by CEO Dale Fuller, an ex-Steve Jobs aide at Apple Computer, who has turned Inprise around since taking over in April. He showed a profit in the first quarter of 2000 and is expected to earn 25 cents a share for all of 2000. Tao, who started buying shares in December, 1999, when the stock was at 4, sees the earnings growth continuing through 2001 and 2002. His firm has accumulated 500,000 shares of the stock, which hit 16 in January, 2000. It has since tumbled to 6 1/2 along with other tech stocks.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.