Spotlight: Informix Restates 1st-Quarter Results

Informix Corp. restated its first-quarter results to a net loss of $400,000 and cut revenue by $6.2 million to $161 million after its independent auditor, Ernst & Young, discovered the database software maker incorrectly recognized revenue from distributors. The Menlo Park company also hired KPMG Peat Marwick as its new auditor. Informix lost $144.2 million and had revenue of $149.2 million a year ago. On a per-share basis, the restated results were break-even at 95 cents.