Troubled NBI Inc. said it fired more than half its work force and is discontinuing its hardware business to focus on its software and service operations. The ailing company, which has reported net losses for 16 consecutive quarters, said it won't manufacture network computer systems any more and will greatly reduce its costly direct sales force. Altogether, NBI said it will eliminate 266 jobs at its Boulder headquarters, 176 field sales jobs and 50 jobs at its Canadian and United Kingdom headquarters. The company's work force will fall to about 400 people. Stephen G. Jerritts, president and chief executive officer, said customers weren't willing to commit to an expensive NBI hardware systems because of the company's financial troubles. Further, he said, the company doesn't have the capital needed to build the business over the next year or two. `` We flat ran out of financing resources, '' Mr. Jerritts said. `` We had to do something structurally and radically different. '' As a result, he said NBI will focus on servicing its installed base of systems, trying to provide maintenance for other manufacturers and expanding its software business, using some of the applications it developed for its hardware. The company currently offers a word-processing package for personal computers called Legend. The company, which recently said it lacked the profits and capital to pay dividends on its Series A convertible preferred stock, said it has hired an investment banker to help it raise additional cash. In New York Stock Exchange composite trading yesterday, NBI common closed at 93 cents a share, up 31 cents. TEXT Troubled NBI Inc. said it fired more than half its work force and is discontinuing its hardware business to focus on its software and service operations . The ailing company , which has reported net losses for 16 consecutive quarters , said it wo n't manufacture network computer systems any more and will greatly reduce its costly direct sales force . Altogether , NBI said it will eliminate 266 jobs at its Boulder headquarters , 176 field sales jobs and 50 jobs at its Canadian and United Kingdom headquarters . The company 's work force will fall to about 400 people . Stephen G. Jerritts , president and chief executive officer , said customers were n't willing to commit to an expensive NBI hardware systems because of the company 's financial troubles . Further , he said , the company does n't have the capital needed to build the business over the next year or two . `` We flat ran out of financing resources , '' Mr. Jerritts said . `` We had to do something structurally and radically different . '' As a result , he said NBI will focus on servicing its installed base of systems , trying to provide maintenance for other manufacturers and expanding its software business , using some of the applications it developed for its hardware . The company currently offers a word-processing package for personal computers called Legend . The company , which recently said it lacked the profits and capital to pay dividends on its Series A convertible preferred stock , said it has hired an investment banker to help it raise additional cash . In New York Stock Exchange composite trading yesterday , NBI common closed at 93 cents a share , up 31 cents . 2~4~6 10 14~16~18~20~22~24 20 32 32~34~36 44 44~46~48~50~52 57~59~61 71~73 77~79~81 87 95~97~99 113 113~115~117~119~121 130 134 140~142 146 146~148~150 154~156~158~160 164~166 170 170~172~174~176~178~180 172 176~178 185~187~189~191~193 187 201~203~205 210~212~214~216~218~220~222~224~226 232 246~248~250~252~254 250 260~262~264~266~268 262 277 283~285 293~295~297 303~305 309~311~313~315~317 324 334~336 342~344 353 361~363~365~367~369 378~380 384 388 398 398~400~402~404~406 416 420~422 428 428~430~432 438~440~442~444 446 452 452~454 459~461 467~469~471 475~477 481 486~488 498 502~504~506~508 504 508 514 518 518~520~522~524~526~528 534 540~542~544 550 554~556 563~565 563~565~567~569 563~565~567~569~571~573 579 579~581 587~589 593 599~601 NBI|1368,1369,1371,1372,1374,1376,1379,1381,1383,1384,1386,1390,1395,1400,1402,1404,1406,1408,1411,1415,1416,1420,1423,1424,1426,1430,1431,1436,1438,1440,1445 more than half its work force|1370 its hardware business|1373 its software and service operations|1375 net losses|1377 16 consecutive quarters|1378 network computer systems|1380 its costly direct sales force|1382 266 jobs|1385 its Boulder headquarters|1387 176 field sales jobs|1388 50 jobs|1389 its Canadian and United Kingdom headquarters|1391 Canada|1392 United Kingdom|1393 The company's work force|1394 about 400 people|1396 Stephen G. Jerritts|1397,1403,1410,1414 customers|1398 an expensive NBI hardware systems|1399 the company's financial troubles|1401 the capital needed|1405 the next year or two|1407 financing resources|1409 something structurally and radically different|1412 a result|1413 its installed base of systems|1417 maintenance|1418 other manufacturers|1419 its software business|1421 some of the applications|1422 its hardware|1425 a word-processing package|1427,1429 personal computers|1428 the profits and capital|1432 the profits|1433 capital|1434 dividends|1435 its Series A convertible preferred stock|1437 an investment banker|1439 additional cash|1441 New York|1442 New York Stock Exchange|1443 New York Stock Exchange composite trading|1444 NBI common|1446 93 cents|1447 share|1448 31 cents|1449 1368|MOD:DESC:2|NUC:DIST:4~6 1369|NUC:DIST:10 1370|MOD:DIST:14~16~18|MOD:DIST:20|MOD:DIST:22|NUC:DIST:24 1371|NUC:DIST:20 1372|NUC:DIST:32 1373|MOD:DIST:32|MOD:DIST:34|NUC:DIST:36 1374|NUC:DIST:44 1375|MOD:DIST:44|MOD:DIST:46~48~50|NUC:DIST:52 1376|MOD:DIST:57|MOD:DESC:59|NUC:DIST:61 1377|MOD:DESC:71|NUC:DIST:73 1378|MOD:DIST:77|MOD:DESC:79|NUC:DIST:81 1379|NUC:DIST:87 1380|MOD:DIST:95~97|NUC:DIST:99 1381|NUC:DIST:113 1382|MOD:DIST:113|MOD:DESC:115|MOD:DIST:117~119|NUC:DIST:121 1383|NUC:DIST:130 1384|NUC:DIST:134 1385|MOD:DIST:140|NUC:DIST:142 1386|NUC:DIST:146 1387|MOD:DIST:146|MOD:DIST:148|NUC:DIST:150 1388|MOD:DIST:154|MOD:DIST:156|MOD:DIST:158|NUC:DIST:160 1389|MOD:DIST:164|NUC:DIST:166 1390|NUC:DIST:170 1391|MOD:DIST:170|MOD:DIST:172~174~176~178|NUC:DIST:180 1392|NUC:DIST:172 1393|NUC:DIST:176~178 1394|MOD:DIST:185|MOD:DIST:187~189|MOD:DIST:191|NUC:DIST:193 1395|NUC:DESC:187 1396|MOD:DIST:201~203|NUC:DIST:205 1397|NUC:DIST:210~212~214|MOD:DESC:218~220~222~224~226 1398|NUC:DIST:232 1399|MOD:DIST:246|MOD:DESC:248|MOD:DIST:250|MOD:DESC:252|NUC:DIST:254 1400|NUC:DIST:250 1401|MOD:DIST:260|MOD:DESC:262~264|MOD:DESC:266|NUC:DIST:268 1402|NUC:DIST:262 1403|NUC:DIST:277 1404|MOD:DIST:283|NUC:DIST:285 1405|MOD:DIST:293|NUC:DIST:295|MOD:DESC:297 1406|MOD:DIST:303|NUC:DIST:305 1407|MOD:DIST:309|MOD:DIST:311|NUC:DIST:313~315~317 1408|NUC:DIST:324 1409|MOD:DESC:334|NUC:DIST:336 1410|MOD:DIST:342|NUC:DIST:344 1411|NUC:DIST:353 1412|NUC:DIST:361|MOD:DESC:363~365~367~369 1413|MOD:DIST:378|NUC:DIST:380 1414|NUC:DIST:384 1415|NUC:DIST:388 1416|NUC:DIST:398 1417|MOD:DIST:398|MOD:DESC:400|NUC:DIST:402|MOD:DIST:404~406 1418|NUC:DIST:416 1419|MOD:DIST:420|NUC:DIST:422 1420|NUC:DIST:428 1421|MOD:DIST:428|MOD:DIST:430|NUC:DIST:432 1422|MOD:DIST:438~440|MOD:DIST:442|NUC:DIST:444 1423|NUC:DIST:446 1424|NUC:DIST:452 1425|MOD:DIST:452|NUC:DIST:454 1426|MOD:DIST:459|NUC:DIST:461 1427|MOD:DIST:467|MOD:DIST:469|NUC:DIST:471 1428|MOD:DESC:475|NUC:DIST:477 1429|NUC:DESC:481 1430|MOD:DIST:486|NUC:DIST:488 1431|NUC:DIST:498 1432|MOD:DIST:502|NUC:DIST:504~506~508 1433|NUC:DIST:504 1434|NUC:DIST:508 1435|NUC:DIST:514 1436|NUC:DIST:518 1437|MOD:DIST:518|MOD:DESC:520~522|MOD:DESC:524|MOD:DESC:526|NUC:DIST:528 1438|NUC:DIST:534 1439|MOD:DIST:540|MOD:DESC:542|NUC:DIST:544 1440|NUC:DIST:550 1441|MOD:DESC:554|NUC:DIST:556 1442|NUC:DIST:563~565 1443|NUC:DIST:563~565~567~569 1444|MOD:DESC:563~565~567~569|MOD:DESC:571|NUC:DIST:573 1445|NUC:DIST:579 1446|NUC:DIST:579|MOD:DESC:581 1447|MOD:DIST:587|NUC:DIST:589 1448|NUC:DIST:593 1449|MOD:DIST:599|NUC:DIST:601