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"In this very weak revenue environment, it's hard to tell how this business plan is going to work longer term".
The memo also cited weak revenue after the Sept. 11 attacks and low demand for air travel.
Stocks sagged yesterday, eroding two sessions of strong gains, after Nortel Networks warned of weak revenue growth.
However, Autonomy had long been the target of hedge funds who argued that the company had papered over weak revenue with aggressive accounting and a series of takeovers.
Intel, the world's largest chip maker, lost 2.51 percent to end at $21.79 a day after giving a weak revenue outlook.
Pfizer, the pharmaceutical company, reported disappointing sales on Tuesday, hurt by generic competition for its Lipitor cholesterol fighter and Effexor XR depression drug as well as weak revenue in emerging markets.
Similar(30)
But the banks' weak revenues suggest such an outcome is still a long way off.
Weak revenues in the UK were partly offset by growth in the US and Australia.
The surge in spending was also ill-timed since it coincided with a stretch of weak revenues.
The weak revenues make it harder for Mr. Pataki to keep his pledge to avoid layoffs as well, unless more state workers take early retirement, the official said.
Weak revenues have paralyzed the government's ability to pay for problems ranging from insolvent banks to armed insurgencies to a poorly trained and equipped military.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com