6% increase revenue and 35%increase net income; $0.14 EPS
CAMBRIDGE, Mass., Jan. 29 /PRNewswire/ -- ON Technology Corp today
announced increased revenues and earnings for its fourth quarter ended Dec. 31,
1996. Revenues for the fourth quarter were $14,020,000, an increase of 6% over
revenues of $13,286,000 reported for the quarter ended Dec. 31, 1995. Net
income for the fourth quarter of 1996 was $2,040,000 or $.19 per share, which
represented an increase of 35% over net income of $1,516,000 or $.14 per share
for the fourth quarter of 1995.
Revenues for the year ended Dec. 31, 1996 were $51,792,000, an increase of
17% over revenues of $44,121,000 realized for the prior year. Excluding tax
adjusted acquisition, restructuring and inventory related charges of $20,747,000
or $1.91 per share, the company recorded net income for 1996 of $4,886,000 or
$.45 per share, up 33% over net income of $3,672,000 or $.40 per share for
1995.
"The revenues were driven by the combination of seasonal buying patterns and
excellent growth in our ON Guard firewall business while the earnings reflect
lower operating costs for the business after we completed our restructuring last
quarter," said Christopher Risley, Chief Executive Officer.
"During the quarter, we introduced Windows NT Server versions of our
SofTrack metering product and our Meeting Maker scheduling product. While
these products haven't yet made a major revenue contribution we expect that
they will as NT Server gradually gains share in the installed base," said Risley. |
