Ross Systems Estimates Third Quarter Results; (Continued Improvement in Profitability)
ATLANTA, Apr 16, 2001 /PRNewswire via COMTEX/ -- Ross Systems, Inc. (Nasdaq:
ROSS), a leading provider of enterprise management software and e-business
solutions for mid-market process manufacturers, announced today that it expects
a profit of $.09 to $0.11 in diluted earnings per share (EPS) for its third
fiscal quarter of 2001, which ended March 31, 2001. Revenues for the quarter are
estimated to be approximately $11.5 million. The quarter's results reflect
positive operating earnings, which further improved over the sequential quarter
and include a one-time after tax gain of $2.3 million relating to the Company's
sale of its Payroll and H/R product. Estimates are based upon preliminary
results and are subject to final review.
Software license revenue improved 24% over the sequential quarter and operating
expenses continued to improve and resulted in continued improvement in operating
cash-flows.
On April 3, 2001 the Company was informed pursuant to the March 9, 2001 oral
hearing before a NASDAQ Listing Qualification Panel, that the panel determined
to continue the listing of the Company's securities on The Nasdaq National
Market. The panel's decision provides time for the completion of the Company's
intended reverse stock split before May 11, 2001 and the expected resulting
compliance with the minimum bid price requirement. Preliminary returns of the
Proxy vote confirm stockholder approval of the proposal.
The Company will announce final results on April 25, 2001, prior to the special
stockholders meeting scheduled at 10:00 AM at the Company's offices on April 26,
2001.
About Ross Systems
Ross Systems Inc. is a leading supplier of enterprise resource planning (ERP)
and management software and e-business solutions for process manufacturing
industries including food, beverage, chemical, pharmaceutical, paper and metals.
The Ross Systems family of solutions includes the award- winning iRenaissance, a
broad range of Internet-enabled enterprise resource planning and management
applications for financials, manufacturing, advanced planning, supply-chain
management, maintenance management, transportation management, materials
management and human resources/payroll. Ross Systems' Resynt e-business product
family includes digital marketplace applications spanning procurement, sales,
Internet trading exchange connectivity, collaboration and employee productivity.
More than 3,400 companies around the world use Ross Systems solutions in open
systems environments including NT and UNIX. Ross Systems has more than 60
offices around the world to serve its customers. Ross Systems Inc., Two
Concourse Parkway, Suite 800, Atlanta, Ga. 30328, 770-351-9600, 1-877-ROSS-INC
rossinc.com . |
