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By Michael Singer March 27, 2002 Internet-based human resource software maker Saba Software Wednesday said it has named Geno Tolari as its new CEO. Before coming to Saba, Tolari served as Sterling Software COO, which was acquired in March 2000 by Computer Associates. He replaces Bobby Yazdani, Saba's founder and CEO. Yazdani led the search process and is expected to become chairman of the company. "Since the company was founded five years ago, we've pioneered the next major category of enterprise software solutions," said Yazdani. "We needed to bring a CEO to the company who could capitalize on these accomplishments and help realize our vision for this market. We are confident that our customers, employees and investors will share our enthusiasm for Geno." Redwood Shores, Calif.-based Saba also said its fiscal third quarter net loss was less than before, coming in at $3.8 million, or 8 cents per share, as opposed to a net loss of $15.1 million, or 35 cents, for the same time last year. The company said it expects to break even on a per share basis for the fourth quarter if you don't include noncash stock compensation costs and "amortization of good will and purchased intangible assets." Saba said it expects fourth quarter revenues somewhere between $13.5 million and $14 million. |