Thursday February 25, 4:21 pm Eastern Time
Company Press Release
Wind River Reports Fourth Quarter Revenues of $38.2 Million
Fiscal 1999 Revenues Up 40%
ALAMEDA, Calif.--(BUSINESS WIRE)--Feb. 25, 1999--Wind River Systems, Inc. (Nasdaq:WIND - news), 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.
''Wind River has continued its excellent growth. For the twentieth consecutive quarter we have exceeded or been in the range of the financial market's estimates.'' said Ron Abelmann, president and chief executive officer. ''Our 40% revenue growth of $37 million, underscores our continued and substantial gain in market share. With the largest repertoire of new products ever introduced by the company rolling out in the first quarter, we are optimistic about continuing our market share growth in the new fiscal year,'' Abelmann continued.
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