ECLP, Wind River Reports Fourth Quarter Revenues of $38.2 Million; Fiscal 1999 Revenues Up 40%
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WIND
ALAMEDA, Calif.--(BUSINESS WIRE)--Feb. 25, 1999--Wind River Systems, Inc. (Nasdaq:WIND), the
leading provider of real-time operating systems, integrated software development tools and engineering
services for embedded applications, reported operating results for the fourth quarter and fiscal year ended
January 31, 1999.
Total revenues for the fourth quarter were $38.2 million, a 36% increase from revenues of $28.0 million
reported in the same period of fiscal 1998. Operating profit in the fourth quarter was $12.0 million
compared to an operating loss of $6.1 million in the corresponding quarter of last year. Excluding one-time
pre-tax charges of $15.2 million ($13.4 million after-tax) incurred in the fourth quarter of fiscal year 1998,
operating income increased 32%. Net income for the fourth quarter was $8.5 million, an increase of 38%,
compared to the fourth quarter of fiscal year 1998, when excluding the one-time charges. On a pro forma
basis, diluted earnings per share of $0.20 grew 33% from $0.15 earned in the same period in fiscal 1998.
All diluted earnings per share numbers have been adjusted to reflect a 3-for-2 stock split on February 4,
1999.
Total revenues for the fiscal year ended January 31, 1999 were $129.4 million, a 40% increase over
revenues of $92.4 million reported for fiscal year 1998. Operating profit for the fiscal year ended January
31, 1999 of $37.1 million increased from $10.1 million when compared to fiscal year 1998. Excluding the
one-time charges in fiscal 1998, operating income increased 47%. Net income for the fiscal year ended
January 31, 1999 increased 43% at $26.1 million compared to $18.2 million in the prior year, when
excluding the one-time charges. On a pro forma basis, for the fiscal year ended January 31, 1999, diluted
earnings per share of $0.61 grew 42% from the $0.43 earned in the prior year.
ECLP__________________________
PowerCenter Acquisition Completed - Eclipsys Corporation Reports
Results for Fourth Quarter and Fiscal Year Ending Dec. 31, 1998
DELRAY BEACH, Fla., Feb. 26 /PRNewswire/ -- Eclipsys Corporation (Nasdaq: ECLP), a leading provider of
integrated healthcare enterprise information-technology solutions, today announced results for the fourth
quarter and fiscal year ended Dec. 31, 1998.
Eclipsys completed an Initial Public Offering (IPO) on Aug. 6, 1998, and began trading on Nasdaq on Aug.
7, 1998. On Dec. 31, 1998, the company acquired Transition Systems, Inc. (TSI) and accounted for the
acquisition as a pooling of interests. The company has restated to reflect the pooling of interests, and
accordingly, its financial results include the results of operations of TSI as if the companies were combined
for all periods presented. The company adopted the AICPA's Statement of Position 97-2 Software Revenue
Recognition, effective January 1, 1998.
For the fourth quarter ended Dec. 31, 1998:
Revenues increased 52.3% to $40.5 million for Eclipsys and increased 34.4% to $50.4 million pooled for the
TSI acquisition as compared to $ 26.6 million for Eclipsys and $37.5 million pooled for the fourth quarter
1997.
Earnings before interest, taxes, depreciation and amortization (EBITDA) increased 244% to $6.2 million for
Eclipsys and increased 46.2% to $8.2 million pooled as compared to the same quarter in 1997. Earnings
per share (excluding acquisition-related and nonrecurring charges) were $0.14 diluted for Eclipsys and
pooled as compared to $(0.01) diluted for Eclipsys and $0.10 diluted pooled for the same quarter in 1997.
Earnings per share on a reported basis (including acquisition-related and nonrecurring charges) pooled were
a loss of $(0.47) basic and diluted versus a loss of $(0.47) basic and diluted for fourth quarter 1997.
The company's pooled balance sheet as of Dec. 31, 1998, reflects cash and equivalents of $54.2 million and
no outstanding debt. Eclipsys' Days Sales Outstanding (DSO) were 95 days at the end of December 1998
versus 101 days at the end of September 1998. TSI had DSO of 154 days as of year end. |
