Saville Announces First Quarter 1999 Results
April 27, 1999 04:16 PM
BURLINGTON, Mass.--(BUSINESS WIRE)--April 27, 1999--
First Quarter Results In Line With Preliminary Estimates
Saville Systems PLC SAVLY , a leading provider of convergent billing and customer care software solutions for the telecommunications and energy industries, today announced 1999 first quarter revenue of $30.2 million, representing a 21% decrease in revenue from $38.0 million for the same period in the previous year. Net loss for the quarter ended March 31, 1999 was $3.2 million, or $0.08 per share, compared to net income of $9.2 million, or $0.23 per share for the quarter ended March 31, 1998. Cash and short-term investment balances of $87.5 million at the end of the quarter were relatively unchanged from the $87.8 million at December 31, 1998.
Jack Boyle, Saville's Chairman and CEO, commented, "With several of our initial UNIX customer sites having gone into production during the first quarter, we expect to see further momentum in our UNIX sales opportunities. Additionally, we are pleased with the early market acceptance of our two new products released in 1999, SavilleCare(tm) and SavilleExpress(tm). We believe that the depth, breadth and interoperability of our expanded product suite and the size and strength of our implementation team uniquely positions us to capitalize on opportunities in the billing and customer care market during the remainder of 1999."
Founded in 1982, Saville is a leading provider of convergent billing and customer care solutions for the telecommunications industry. Saville operates globally with offices in the U.S., Canada, Ireland, Australia, U.K. and Germany, and has more than 1,400 employees worldwide. Saville is a publicly held company, traded on the Nasdaq National Market (US) market under the symbol SAVLY. For more information, Saville can be reached at www.savillesys.com, or call (+1) 781-359-6610.
This press release contains forward-looking statements that involve a number of risks and uncertainties. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are set forth under the heading "Certain Factors That May Affect Future Results" in Appendix B of the Company's Annual Report on Form 10-K for the year ended December 31, 1998, including risks associated with customer concentration, intense competition, product development and acceptance, the management of rapid operations expansion and the availability of favorable tax treatment.
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