California Software Reports Third Quarter Sales Up 336% And EBITDA Improves By 96%
IRVINE, Calif., Nov 9, 2001 /PRNewswire via COMTEX/ -- California Software Corporation (OTC Bulletin Board: CAWC chart, msgs),
a leader in IBM Midrange migration products and developer of the award-winning BABY(TM), Unibol(TM) and MLPS(TM) product
lines, today announced that year-over-year revenues increased by 336% and EBITDA improved by 96.4% for the third quarter of
fiscal year 2001.
Kevin Gadawski, vice president of finance for California Software, stated, "Revenues grew to $1,098,855 from $252,247.00. Our net
loss before interest, taxes, depreciation and amortization amounted to ($71,919), compared to ($2,015,278) for the same period last
year. The Company is operating at breakeven for the year. Given the difficult economic conditions, we are very pleased with these
results."
"This year we have focused on the fundamental profitability and growth of the Company. As part of this commitment, we have
reduced our costs and grown our business. Strong third quarter results, combined with last quarter's sales growth of over 300%, are
proof that our growth strategy remains on track," said Bruce Acacio, CEO of California Software.
California Software Corporation is the developer and marketer of the BABY, Unibol and MLPS brand names that support the
migration of AS/400-based applications to Windows, Unix and Linux; a graphical interface/Web enabler product family and loan
processing applications for financial institutions. California Software enjoys over 100,000 installations in 56 countries and is in use by
such customers as IBM, Unisys, Caterpillar, Volvo, DHL Worldwide and BMW Motors. Headquartered in Irvine, CA, California
Software has offices in Richmond, Belfast, Paris and Brussels. For more information, visit www.californiasoftware.com . |
