thought this might interest the those who may be looking at potential dilution/accretion -- fulltime's latest earnings release. from my previous post, "The transaction, to be accounted for as a pooling of interests and a tax-free reorganization, is expected to add to Legato's earnings in 1999."
FullTime Reports Revenue of $7.0 Million In September 1998 Quarter; Revenue Increases 7.3% Over Prior Quarter
SAN MATEO, Calif.--(BUSINESS WIRE)--Oct. 22, 1998--FullTime Software, Inc. (Nasdaq:FTSW), formerly known as Qualix Group, Inc., today reported total revenue for the quarter ended September 30, 1998 of $7.0 million.
This represents an increase of 7.3% compared to June 30, 1998 results and a 15% decline from $8.2 million for the same quarter last year. Net loss for the quarter ended September 30, 1998 was $2.1 million or $(0.20) on average weighted shares outstanding of 10.6 million. Net loss improved 22% from $2.7 million in the fourth quarter of fiscal 1998. In the prior year, net income in the first fiscal quarter was $37 thousand.
"We are pleased with our revenue performance in the September quarter," stated Rick Thau, President and CEO of FullTime Software, Inc. "This is the second consecutive quarter of sequential revenue growth. Reliability software revenue grew 24% sequentially. We are also pleased to have our first FullTime revenues included in the September quarter results. We announced the FullTime solutions on July 7, 1998 and released the NT version in late July and the Solaris version in late September, all on schedule."
"We successfully completed our FullTime beta program during the quarter and the experiences of our beta customers have validated our design goals for the FullTime solution," continued Thau. "FullTime is the first and only solution in the marketplace to address the planned downtime challenge, enabling proactive, not reactive, Service Level Availability management across an enterprise. No other vendor has this capability. Planned downtime consumes more customer time, effort and expense than unplanned downtime and the FullTime solution enhances our strategic importance to Fortune 2000-class companies."
Strength in product revenue in the first quarter of fiscal year 1999 was due to sales of the company's industry leading products for high availability, HA+ and Octopus, and initial sales of the company's FullTime solutions. The high availability products protect applications and data from downtime caused by unplanned computer events such as system, network or application failures. They are the leading products in NT and UNIX environments.
The FullTime solution expands on the capabilities of the company's high availability solutions by addressing the enterprise-wide challenges of planned downtime. Examples of planned downtime include systems maintenance; hardware and software upgrades; changes to network or server configurations; performance tuning; and tuning applications to reflect changes in business process. About FullTime Software
FullTime Software, Inc., formerly known as Qualix Group, Inc., is a leading developer of enterprise-wide, cross-platform adaptive computing solutions that enable customers to proactively manage application service level availability. Its products help customers to optimize IT resources while maximizing reliability, accessibility and efficiency of applications across a continuum of business events.
FullTime Software products have ensured the availability of business-critical applications at more than 17,000 installations around the world, including many Fortune 1000 corporations in the telecommunications, finance, retail, high technology and other industries.
The company is headquartered in San Mateo, with 22 sales offices worldwide and distribution across more than 70 countries. Effective July 7, 1998, Qualix began conducting business as "FullTime Software, Inc.," and trading in the company's common stock commenced on the NASDAQ National Market under the ticker symbol "FTSW".
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