Earnings PR: Metrowerks Q3 Revenues Up 82% to US$2.4 Million, Loss for Q3 US$
147,000
Austin, Texas - June 3, 1996 - Metrowerks (TSE, ME: MWK) the world's leading vendor of Power Macintosh-hosted
programming tools, today announced its results of operations for its third quarter of fiscal 1996, ended April 30, 1996.
Revenues for the third quarter were US$ 2.4 million, an 84% increase over third quarter of 1995 revenues, which were
US$ 1.3 million. The net loss for the third quarter was US$147,000 (US$ 0.013 per share on a fully diluted basis),
compared to earnings of US$113,000 (US$0.014 per share on a fully diluted basis) for the three months ended April 30,
1995.
"The third quarter is the only fiscal quarter that does not benefit from a major product release of the Company's flagship
product, CodeWarrior Gold. As a result, we were extremely pleased with our overall revenues in the quarter, said Jean
Bélanger, Chairman of the Board. "We were not happy with our first quarterly loss since becoming a public company, but
we felt this was the best to accelerate our investments in new product development as we see tremendous market
opportunities opening up for our programming tools, especially in the embedded market.
"While we continue to expand our product line, we have also signed important partnership agreements in the past few
months with Microsoft, US Robotics, Intercon, and Sun Microsystems."
Research and development expenses increased US$210,000 or 30% over the second quarter of fiscal 1996. This increase
was due to investments required for:
1. The introduction of new products:
(i) Discover Program. With Javaintroduced:Q3/FY96
(ii) CodeWarrior for BeBoxintroduced: Q3/FY96
2. The continuing work to complete:
(i) CodeWarrior Gold 9 (including Java)shipped Q4/FY96
(ii) CodeWarrior for Pilotdue in:Q4/FY96
(iii) CodeWarrior for PowerTVdue in:Q1/FY97
(iv) CodeWarrior on Windows95/NTdue in:Q2/FY97;
(v) CodeWarrior for Embeddeddue in:Q2/FY96
Selling, general and administrative expenses increased US$186,000 or 18% over the second quarter of fiscal 1996. This
increase was due primarily to the costs of the Company's relocation to a new 10,000 square foot facility in Austin. This
facility is expected to be expanded to 20,000 feet in the fist quarter of fiscal 1997.
Business Outlook The following statements are based on current expectations. These statements are forward looking and
actual results may differ materially.
The company expects revenue for the fourth quarter of fiscal 1996 to be between US$ 3.1-3.3 million.
Research and development expenses are expected to increase in the fourth quarter, but at a lower rate than in the
third quarter.
Selling, general and administrative expenses are expected to increase in the fourth quarter primarily in
connection with two large trade shows that take place in May. There were no major trade shows in the company's
third fiscal quarter.
The company expects capital spending in the fourth quarter to be about $350,000, down from $926,000 in the
third quarter of fiscal 1996.
The above statements contained in this outlook are forward looking statements that involve a number of risks and
uncertainties. In addition to the factors discussed above, among the factors that could cause actual results to differ
materially are the following: business conditions in the Macintosh hosted software development tools market; competitive
factors, such as rival software development tools, and price pressures; software defects; and product development and
technological change.
Earnings Table The Company has reported its financial results in US dollars since the beginning of fiscal 1996, and
accordingly the results of prior periods have been translated into US dollars for comparative purposes.
As of April 30, 1996 there were 11,456,983 shares outstanding and there were 676,450 options outstanding to acquire
common shares.
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From their Webpage.
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