FYI:
PC Docs results improving
By AMANDA LANG
Technology Reporter The Financial Post
Toronto-based PC Docs Group International Inc. yesterday reported fiscal fourth-quarter results
that offered some evidence the company's fortunes are improving.
In the quarter ended June 30, the document management software company said net income was
$1.2 million (6› a share) on revenue of $27.1 million.
That is down from fourth-quarter 1996, when it earned $4.4 million (22›) before a charge related
to an acquisition. Revenue rose 7% from last year's $25.4 million.
However, analysts were expecting the company to earn 4› a share, based on a consensus of
estimates at First Call.
And the results are a marked improvement from the third quarter, when the company reported net
income of $380,000 (2›) on revenue of $24 million.
Net income for the fiscal year was $3.9 million (18›) on revenue of $96.2 million, compared with
net income last year of $12.7 million (70›) before the acquisition charge, on revenue of $81.2
million.
Several weeks ago PC Docs said its chief executive, Larry Bohn, was leaving the company after
three years, a move perceived by some as indicating that the quarter would be worse than
expected.
Chairman Rubin Osten said the company is still working to improve its results, and that many of
the pieces for that improvement are in place, including an investment in the company's European
operations and a redirected sales force.
Osten also said new products would begin to ship this quarter.
PC Docs has about $90 million in cash, or about $4.50 a share. The stock (dxx/tse) closed at
$8.55 yesterday, up 15›.
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