Infinium Reports Results for the First Quarter Ended 31 December 2000
HYANNIS, Mass., Jan 25, 2001 (BUSINESS WIRE) -- Infinium Software, Inc.
(NASDAQ: INFM), a provider of integrated e-business solutions and ASP services,
today announced financial results for the first quarter of fiscal year 2001
ended 31 December 2000.
Total revenues for the first quarter of fiscal year 2001 were $22.4 million,
compared to $23.5 million for the same quarter of the prior year. The net loss
for the first quarter was ($0.9) million or ($0.07) per share, compared to
($1.5) million or ($0.12) per share for the same quarter of the prior year.
Earnings before interest expense, tax, depreciation and amortization (EBITDA)
for the first quarter of fiscal year 2001 were $1.4 million.
Software license fees for the first quarter were $3.8 million, compared to $3.8
million for the same quarter of the prior year. Consulting and maintenance
revenues for the first quarter were $18.6 million; compared to $19.8 million for
the same quarter of the prior year, which included Y2K consulting services
revenues.
Infinium's cash and marketable securities balance for the first quarter was
$20.4 million including ($0.5) million of unrealized marketable securities
losses, compared to $20.7 million for the previous quarter. Infinium ASP
recognized $353,000 in monthly recurring revenue in the first quarter, compared
to $238,000 for the previous quarter.
"Infinium's better than expected EPS and EBITDA for this quarter confirm that
we've made significant gains in operating efficiency," said John Whyte,
Executive Vice President and Chief Operating Officer of Infinium. "During this
quarter we completed a highly-successful program of expense control. We're
confident that we'll be profitable and cash flow positive in fiscal year 2001."
"Last year was the largest investment year in the history of the Company. These
investments were based on a strategy that we believe will significantly enhance
the solutions and services we provide to our customers, and with that, increase
shareholder value," said Bob Pemberton, Chief Executive Officer of Infinium.
"The investment year is now over. Today, we're aggressively executing against
our established strategy to drive Infinium into the highest growth markets."
Infinium will discuss its recent results in a conference call on Thursday, 25
January 2000 at 5:00 p.m. EST. Interested parties may attend the conference call
via live broadcast over the Internet by accessing
placeware.com, entering Your Name, Meeting ID:
Infinium Q1, and Meeting Key: 682852. The accompanying audio portion of the call
will be available at (800) 967-7140 within the US, or (719) 457-2629 outside of
the US. For those unable to participate in the live call, a remote replay will
be available from Thursday, 25 January at 8:30 p.m. EST until Friday, 2 February
at 5:00 p.m. EST at (888) 203-1112 within the US, or (719) 457-0820 outside of
the US by entering the passcode: 682852.
About Infinium
Infinium, a provider of integrated e-business solutions and ASP services, offers
Web- and server-based financial, human resources, supply management, process
manufacturing, business analytics, e-procurement and customer relationship
management solutions, services, support and deployment options that enable the
virtual enterprise and empower people to do great work. Infinium helps
high-growth companies thrive by rapidly deploying cost-effective, flexible,
robust and reliable enterprise software solutions that meet customer-specific
needs. Infinium has more than 2,000 customers worldwide representing a variety
of industries including: process and discrete manufacturing, gaming and
hospitality, healthcare, retail, distribution, and transportation. Founded in
1981, Infinium has offices worldwide and is headquartered in Hyannis,
Massachusetts. Get to know us at www.infinium.com. |
