Convera and Vyou Announce Layoffs

Convera Corporation (www.convera.com), the company formed when Excalibur Technologies combined with Intel's Interactive Media Services division, revised its quarterly earnings downward on Friday. Convera now expects total revenues for the first quarter ended April 30, 2001 to range from $5 million to $6 million and an EBITDA loss per share in the range of $0.36 to $0.40.

Convera also announced that in light of the economic downturn, it would be reducing its staff by 15 percent.

"The downturn in the economy has caused some prospective customers to re-evaluate and defer their content management initiatives," said Patrick C. Condo, president and CEO of Convera Corporation.

Another company singing the same blues tune is Vyou Inc.(www.vyou.com), which announced on Friday that it will be laying off its entire staff with the exception of four workers while the company seeks to conserve cash and "maximize the value of its intellectual property."

Vyou states that it has been pursuing funding options for the past six months to no avail, and is currently looking for a buyer of its intellectual property, operating software and other assets.

Vyou states that its Vyoufirst software allows the highest quality text, images, HTML, and streaming content to be published on the Web without fear of potential redistribution or misuse.