I am quoting the press release from GNSM. The stock
moved mainly because of this report. They have also
recently announced a new product called G2 WebMiner,
which employs the AI based tool G2 to collect and
interpret data from the WWW.
Gensym Corp. reported first quarter revenue of
$8,441,000 for the three months ended March 31,
1996, an increase of 48 percent over the same period
in 1995. Net income for the first three months of
1996 was $333,000, or $.06 a share, compared to a
net loss of $54,000, or ($.01),for the same period
last year.
GENSYM CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
March 31, December 31,
1996 1995
ASSETS (unaudited)
CURRENT ASSETS:
Cash and cash equivalents $13,857 $2,126
Marketable securities 4,184 2,966
Accounts receivable, less reserves 8,615 8,264
Prepaid expenses 1,065 1,115
Deferred income taxes 907 941
Total current assets 28,628 15,412
Property and equipment, net 2,140 2,166
Other Assets 173 268
$30,941 $17,846
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable $1,215 $1,027
Accrued expenses 3,982 3,789
Deferred revenue 4,856 4,420
Total current liabilities 10,053 9,236
STOCKHOLDERS' EQUITY:
Series A convertible preferred stock 0 30
Series B convertible preferred stock 0 35
Common stock 60 40
Capital in excess of par value 17,278 5,234
Retained earnings 3,640 3,307
Cumulative translation adjustment (90) (36)
Total stockholders' equity 20,888 8,610
$30,941 $17,846
GENSYM CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
Three Months Ended
March 31,
1996 1995
(unaudited)
REVENUES:
Product $4,723 $3,249
Service 3,718 2,456
Total revenues 8,441 5,705
COST OF REVENUES:
Product 121 82
Service 1,525 913
Total cost of revenues 1,646 995
Gross profit 6,795 4,710
OPERATING EXPENSES:
Sales and marketing 4,214 3,052
Research and development 1,397 1,268
General and administrative 732 604
6,343 4,924
Operating income 452 (214)
OTHER INCOME, NET 63 73
Income before provision for income 515 (141)
PROVISION FOR INCOME TAXES 182 (87)
Net income $333 $(54)
Net income per share $0.06 $(0.01)
Weighted average common and
common equivalent
shares outstanding 5,731 4,648
CONTACT: Stephen Gregorio
Gensym Corp.
617-547-2500 ext. 275
sng@gensym.com |
