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Subj: Software Publishing Corporation Holdings, Inc. Announces Record 1997 Second Quar
Date: 97-08-20 10:57:13 EDT
From: AOL News
BCC: Semcominc
SAN JOSE, Calif., Aug. 20 /PRNewswire/ -- Software Publishing Corporation
Holdings, Inc. (Nasdaq: SPCO) today announced results for the second quarter
and the six months ended June 30, 1997. The Company achieved record net sales
of $4,144,311 and $8,094,563 for the three and six months periods ended
June 30, 1997, representing an 884% and 834% increase, respectively, over the
comparable periods in 1996. The Company also reported that its gross profits
increased in the second quarter of fiscal 1997 to $3,316,708 from $308,358 in
the second quarter of fiscal 1996 and to $6,315,194 from $524,879 in the six
months ended June 30, 1997 and June 30, 1996, respectively. The Company
reported a net loss of $1,943,239, or $0.24 per share in the second quarter of
fiscal 1997 and a net loss of $4,640,840 or $0.58 per share in the six months
ended June 30, 1997. The company had weighted average common stock
outstanding of 8,050,424 and 7,991,909 for the quarter and six months ending
June 30, 1997, respectively.
Barry Cinnamon, the Company's Chairman of the Board, President and Chief
Executive Officer, remarked that "the Company's second quarter results reflect
the continued transition of the Company from three organizations to one. The
release of ActiveOffice(TM) was followed by ActivePresenter(TM), another
product in the Active series based on our Intelligent Formatting(TM)
technology. ActivePresenter, which was released at the end of the second
quarter, provides tools to deliver high-impact presentations via the World
Wide Web."
Mr. Cinnamon also announced that Daniel J. Fraisl, Vice President of
Research and Development resigned from the Company but will continue to
provide consulting services to the Company. Mr. Steven Brix, formerly
Development Manager, has been promoted to Vice President of Product
Development.
Product Success
ActivePresenter has been received well both by the industry and end-user
communities. One of the most visible examples is the August issue of Windows
Magazine, where ActivePresenter has been recommended to appear on the
magazine's WinList for 1997. Additional products from SPC have also received
awards. ActiveOffice(TM), ASAP(TM), and ASAP WordPower(TM) claimed three of
Windows Magazines' Win 100 Software Awards. The awards are selected by the
publications' editors, reviewers and product specialists, and are given to
those software and hardware products that are considered to be the best in
their respective categories. The awards were handed out at the Fifth Annual
Win 100 Awards held in New York City on June 16, 1997.
About the Company
Software Publishing Corporation Holdings, Inc., through its subsidiaries
Software Publishing Corporation (SPC), Serif Inc. and Serif (Europe) Limited
(collectively, "Serif"), is an international developer, publisher and supplier
of proprietary computer software applications and companion utilities
programs, primarily targeted towards the visual communications and
presentation graphics, desktop publishing and business productivity segments
of the corporate and small office/home office ("SOHO") markets. The Company's
products are designed to improve the graphical appeal and overall
effectiveness of documents produced by desktop publishing, presentation
graphics, web page, e-mail, word processing and similar applications, as well
as to produce documents through the Company's easy-to-use desktop publisher
and presentation graphics applications. The Company's product lines include
several products based upon its patent-pending Intelligent Formatting
technology, including ActiveOffice, ActivePresenter, ASAP WordPower, ASAP
WebShow(TM) and ASAP(TM), as well as its traditional products such as Serif
PagePlus(TM), Serif DrawPlus(TM), Harvard Graphics(R), Harvard ChartXL(R),
Harvard Spotlight(R), Learn to Do(R) Windows 95 with John C. Dvorak, and a
line of interactive multimedia products based on Entrepreneur(R) Magazine
publications.
Safe Harbor Statement
Except for historical information contained herein, the matters set forth
in this news release are forward-looking statements that involve certain risks
and uncertainties that could cause actual results to differ from those in the
forward-looking statements. Potential risks and uncertainties include such
factors as the level of business and consumer spending for computer software,
the market acceptance and amount of sales of the Company's products, the
competitive environment within the computer software industry, the ability of
the Company to complete and realize benefits from the integration of the
operations of the Company and its subsidiaries, the level and costs incurred
in connection with the Company's product development efforts and the financial
strength of the retail industry. Investors are directed to consider other
risks and uncertainties as discussed in documents filed by the Company with
the Securities and Exchange Commission. The Harvard product line is a group
of products having no connection with Harvard University. All trademarks are
the property of their respective owners.
Balance Sheet Data (Unaudited):
June 30, 1997
Total Current Assets $7,871,240
Property and equipment, net 619,843
Acquired software, net 5,597,917
Goodwill and other assets, net 3,968,454
Total Assets $18,057,454
Total current liabilities $ 9,910,300
Total stockholders' equity $ 8,147,154
Statement of Operations (Unaudited):
Quarter ended June 30,
1997 1996
Net sales $ 4,144,311 $ 421,125
Gross profit $ 3,316,708 $ 308,358
Amortization of acquired software
and goodwill and depreciation $ 822,618 $ 7,180
Net loss $ (1,943,239) $ (1,160,673)
Net loss per common share $ (.24) $ (.38)
Weighted average number of common shares
outstanding 8,050,424 3,083,760
Six Months ended June 30
1997 1996
Net sales $ 8,094,563 $ 867,049
Gross profit $ 6,315,194 $ 524,879
Amortization of acquired software $ 1,689,537 $ 14,534
and goodwill and depreciation
Net loss $ (4,640,840) $ (1,506,190)
Net loss per common share $ (.58) $ (.49)
Weighted average number of common shares
outstanding 7,991,909 3,067,215
SOURCE Software Publishing Corporation Holdings Inc.
CO: Software Publishing Corporation Holdings Inc.
ST: California
IN: CPR
SU: ERN
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