Fred, looks as if a 'bit of the luster' is returning to Platinum!
Congratulations to all at PSQL for 'turning a profit';-)! Hey, & aren't NT sales continueing to accelerate?
Platinum Software Corporation Announces Third Quarter Fiscal 1997
Results
IRVINE, Calif., April 22 /PRNewswire/ -- Platinum Software Corporation (Nasdaq:PSQL) today reported its financial results
for the third quarter of fiscal year 1997. Revenues for the third quarter of fiscal 1997, ended March 31, 1997, were $14.0
million as compared to revenues of $8.4 million for the third quarter of fiscal 1996. A net profit of $0.6 million or $.03 per
share was reported for the third quarter of fiscal 1997, as compared to a net loss of $14.5 million or $.97 per share, including
a $4.2 million charge for restructuring, for the same quarter a year ago. The company's balance sheet as of March 31, 1997,
showed cash, cash equivalents and short-term investments of $15.7 million, accounts receivable of $8.4 million and deferred
revenue of $9.8 million.
George Klaus, chairman of the board, president and chief executive officer said, ``Our third fiscal quarter is our fourth
consecutive quarter with quarterly revenue growth. The March quarter is a seasonably weak quarter for the software sector.
The quarter's revenue growth and our return to profitability are two events that I am particularly pleased to announce. When I
restructured the company last year, this March quarter was my target for the return to profitability. I am thankful for all the
efforts of the employees that have helped make this happen. Our cash balance has increased by $1.2 million in the March
quarter from December 31, 1996. We are well positioned to continue to move forward.'' |
