MACR ($84) Delivers First $100 Million Quarter
SAN FRANCISCO, Oct. 18 /PRNewswire/ -- Macromedia (Nasdaq: MACR - news) today announced revenues of $102.4 million for the second quarter ended September 30, 2000, a 73% increase over revenues of $59.3 million reported in the quarter ended September 30, 1999.
Pro forma net income grew 146% year over year to $15.0 million, or $0.26 diluted earnings per share during the second quarter of fiscal 2001, compared to pro forma net income of $6.1 million, or $0.11 diluted earnings per share in the same period a year ago.
Revenues for the six months ended September 30, 2000 increased 78%, totaling $197.2 million, as compared with $110.5 million for the six-month period a year ago. Pro forma net income for the six-month period reached $29.5 million, or $0.52 diluted earnings per share, as compared with pro forma net income of $9.6 million, or $0.18 diluted earnings per share, a year ago.
``Flash 5 is a hit!'' said Rob Burgess, Macromedia chairman and chief executive officer. ``Products such as Flash and Dreamweaver, which have become platform technologies, are paving the way for Macromedia into new markets. We're more excited than ever about the opportunities we see ahead.''
The Company provided updated growth targets for the fiscal year ended March 31, 2001 and third quarter fiscal 2001. For fiscal year 2001, the Company is targeting revenue growth of 55-58% and pro forma earnings growth of 90-100%. For third quarter fiscal 2001, the Company expects 60-65% year over year revenue growth and 80-85% pro forma earnings growth.
Macromedia Flash Player on 96% of Desktops
Macromedia Shockwave and Flash Player downloads continue to penetrate the desktop. During the quarter, more than 235 million downloads of the Shockwave and Flash Players were recorded, compared to 180 million in the quarter ended June 30, 2000. New data from NPD, the parent company of Media Metrix, indicates that over 96% of the Web population, or almost 290 million users, can view Macromedia Flash content. The data also reports that over 56%, or over 160 million users, can view Macromedia Shockwave content.
shockwave.com Membership Tops 27 Million
shockwave.com, the Internet entertainment destination, has registered more than 27 million members, up from 21 million members at the end of June 2000. An average of more than 60,000 new members came to the site each day to register and view the latest in the Web's best entertainment over the last quarter.
Except for the historical information contained herein, matters discussed in this news release may be considered forward looking statements that involve risks and uncertainties, including the risk of delay in product development and release dates, customer acceptance of new products and services and new versions of existing products, impact of competition, those related to unproven business models associated with the shockwave.com consumer business, the risk of integrating newly acquired technologies and products, quarterly fluctuations of operating results, the economic conditions in significant domestic and international markets, investments in new business opportunities and the other risks detailed from time to time in the Company's SEC reports, including without limitation its quarterly reports on Form 10-Q and its annual report on Form 10-K for the year ended March 31, 2000 as they may be updated or amended with future filings. The actual results the Company achieves may differ materially from any forward looking statements due to such risks and uncertainties.
Pro forma net income excludes acquisition-related charges as well as non- cash charges related to deferred compensation, amortization of intangibles, and preferred stock accretion. Pro forma net income presentation excluding such charges differs from net income presented according to generally accepted accounting principles because they exclude these costs. In addition, the pro forma results reflect an effective tax rate of 23% for the three and six month periods ended September 30, 2000 and 26% for the three and six month periods ended September 30, 1999. The financial results for the three and six month periods ended September 30, 1999 have been restated to reflect the acquisitions of ESI Software, Inc. and Andromedia, Inc., both of which were accounted for as poolings of interests.
INVESTOR'S NOTE: Investors can listen to a live Webcast of Macromedia's Q2 2001 financial results conference call today at 2:30 p.m. PDT by logging onto the MACR Investor Web site at www.macromedia.com/MACR/.
About Macromedia
Macromedia is passionate about what the Web can be. Its award-winning products empower developers to provide the most engaging experience on the Web, and enable more effective e-business. Headquartered in San Francisco, Macromedia has more than 1,200 employees worldwide and is available on the Internet at www.macromedia.com. Macromedia also hosts one of the most engaging entertainment sites on the Web at shockwave.com.
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