7/20...ALLR..Reports Record Second Quarter Results
Company Reports Third Consecutive Profitable Quarter; Fiscal Q2 2000 Revenues Increase 155% From Fiscal Q2 1999; Sequential Revenues Increase 25%
NEWTON, Mass., July 20 /PRNewswire/ -- Allaire Corporation (Nasdaq: ALLR - news), a leading provider of Internet software and services for companies building their businesses on the Web, today reported record financial results for the second quarter ended June 30, 2000. Revenue for the quarter was $33.3 million, an increase of 155% from revenue of $13.1 million for the same period in 1999, and an increase of 25% from revenue of $26.6 million for the quarter ended March 31, 2000. Adjusted net income, which excludes stock based compensation, amortization of goodwill and other intangibles and merger costs, was $2.1 million, $0.07 per share, for the second quarter, compared to an adjusted net loss of $147,000, ($0.01) per share, for the same period in 1999. Reported net income for the second quarter was $1.8 million, $0.06 per share, compared to a net loss of $2.9 million, ($0.13) per share, for the same period in 1999.
Revenue for the six months ended June 30, 2000 increased 175% to $59.9 million from $21.8 million for the same period in 1999. Adjusted net income for the six months ended June 30, 2000 was $3.2 million, $0.10 per share, compared to an adjusted net loss of $2.7 million, ($0.12) per share, for the same period in 1999. Reported net income for the six months ended June 30, 2000 was $2.8 million, $0.09 per share, compared to a net loss of $5.5 million, ($0.25) per share, for the same period in 1999.
For comparison purposes, all reported earnings per share are based on pro forma shares outstanding which gives effect retroactively to the conversion of preferred stock and other restricted stock changes that occurred upon Allaire's initial public offering.
``The second quarter was another strong quarter for the company. The Allaire Internet Business Platform continued to gain significant momentum in the marketplace worldwide,'' said David Orfao, president and CEO of Allaire. ``This momentum is a result of the fact that we address one of the biggest challenges that companies face: time to market. By focusing on productivity and mass adoption, we are seeing deep penetration across the global 1000 and mid-size companies. During the quarter, we also delivered a major new release of JRun, a J2EE Java application server and an important milestone in our strategy to provide an open, standards based Internet software platform.''
Q2 2000: Gaining Momentum in the Global Market
Java Momentum
Allaire announced the release of JRun Server 3.0 during the second
quarter. The new release delivers support for the Java 2 Platform, Enterprise
Edition(TM) (J2EE(TM)) specification and builds on the wide adoption of JRun,
which is used by more than 80,000 Java(TM) developers worldwide. JRun 3.0
delivers on Allaire's promise to provide an easy-to-use, integrated Java
application server with J2EE support. Allaire also announced JRun 3.0 Studio,
the industry's first integrated development environment for JavaServer
Pages(TM) (JSP(TM)).
New Customers
Allaire has seen a substantial amount of new business during the quarter from both its Infrastructure and Packaged Application clients. Key new Infrastructure customers include EMC Corporation, Peace Corps, Sodexho Marriot Services, Discover, and ATT Broadband. Highlights in the Packaged Systems space include Fed Ex, Palm, Inc. and DCI Corporation.
During the quarter, Allaire closed business worldwide from new and existing customers, including Barnes & Noble, Inc., Bell Atlantic, BF Goodrich Company, Bristol-Myers Squibb, Conde Nast Publications, eBags Inc., Fodors.com, GTE, Henkel KgaA, Hitachi, Johnson & Johnson, Level 3 Communications, Inc., The Limited, Inc., MetalSite, L.P., NCR Canada, Ohio State University, Paine Webber Incorporated, Sinclair Knight Merz, Sony, State Street Bank, TRW Inc., United Parcel Service of America, Inc., U.S. Postal Service, Verio, Inc., Victorian Tourist Office, Virgin, The Weather Channel Enterprises, Inc., Williams-Sonoma, Inc., and Xerox Corporation.
New Partnerships
During the second quarter of 2000, Allaire expanded its alliance program with new relationships with partners such as Intel. Allaire announced that it is working closely with Intel Corporation to optimize Allaire ColdFusion for Intel Pentium® III Xeon(TM) processors. The joint effort will deliver a new generation of large-volume, transaction-intensive Web applications. Allaire announced additional partnerships with companies such as DTS, a leading value- added distributor of application development technology tools and other enterprise software in Latin America, and Acta, which offers one of the first and only data platform designed to make enterprise data eCommerce-ready for all channels in the networked economy.
About Allaire
Allaire Corporation is a leading provider of Internet software products and services for companies building their businesses on the Web. Supported by a community of 450,000 developers and global network partners, the Allaire Business Platform enables tens of thousands of companies worldwide to seize new business opportunities by creating e-commerce, content management, customer service and business automation systems. Headquartered in Newton, Mass., Allaire has offices in Europe and Asia Pacific and can be found on the World Wide Web at www.allaire.com.
ColdFusion is a U.S. registered trademark and Allaire, JRun, Allaire Spectra and HomeSite are trademarks of Allaire Corporation. Java and all Java- based marks are trademarks or registered trademarks of Sun Microsystems, Inc. in the U.S. and other countries. All other company names, brand names and product names are trademarks of their respective holder(s).
This press release contains forward-looking statements that involve a number of risks and uncertainties. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, but are not limited to, Allaire's limited operating history, fluctuations in our quarterly results, our ability to gain market acceptance of our products, competition, Allaire's ability to integrate any acquisitions, and other risks listed from time to time in our reports filed with the Securities and Exchange Commission, which factors are incorporated herein by reference. |
