Hi Dirk,
Finally......making money:
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NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: METROWERKS INC.
ME, TSE SYMBOL: MWK
NASDAQ SYMBOL: MTWKF
AUGUST 28, 1997
Metrowerks Fourth Quarter Revenues Up to Record US$6.2
Million
AUSTIN, TEXAS--Company Records Profit of $155,000 for Quarter
Metrowerks Inc., one of the world's leading providers of software
development tools, today announced its results of operations for
the fourth quarter of fiscal year ending July 31, 1997
(Q4FYJuly97).
Revenues for Q4FYJuly97 totaled US$6.2 million, an increase of 78
percent over revenues of US$3.5 million for the corresponding
Q4FYJuly96, and an increase of 72 percent over revenues of US$3.6
million for the previous quarter, Q3FYJuly97.
The Company reported a net profit of US$155,000 (US$0.01 per share
on a fully diluted basis), compared to a net loss of US$178,000
(US$0.02 per share) for the corresponding Q4FYJuly96, and compared
to a net loss of US$5.9 million for the previous quarter,
Q3FYJuly97.
"We are very happy with the results for the fourth quarter," said
Jean Belanger, Metrowerks CEO and Chairman of the Board. "We have
made significant investments in new products and infrastructure
throughout Fiscal 1997, and we are starting to realize the
benefits of these investments both in revenue growth and in
profitability."
Revenues for Q4FYJuly97 break down as follows: 35 percent were
related to embedded market revenues and 65 percent were related to
desktop market revenues, which includes all Mac OS- and Windows-
related sales. Revenues for Q4FYJuly97 can also be broken down as
to 80 percent for embedded and desktop market product sales, and
20 percent product agreement revenues for both embedded and
desktop markets.
Cost of goods sold for Q4FYJuly97 were 17 percent of net revenues
compared to an average cost of goods sold of 29 percent for the
first three quarters if Fiscal 1997. The reduction in cost of
goods sold is the result of increased efficiencies in fulfillment
and production operations.
In Q4FYJuly97, R&D expenses totaled US$2.3 million as compared to
US$1.8 million in Q3FYJuly97. This represents an increase of 24
percent as compared to the increase in R&D expenses from
Q2FYJuly97 to Q3FYJuly97 of 38 percent.
SG&A and technical support expenses totaled US$2.4 million in
Q4FYJuly97 as compared to US$2.2 million for Q3FYJuly97, an
increase of 11 percent. Comparatively, the increase in SG&A and
technical support expenses from Q2FYJuly97 to Q3FYJuly97 was 22
percent.
The company had approximately $5.0 million of cash and cash
equivalents on hand at July 31, 1997.
This release, other than historical financial information, may
consist of forward-looking statements that involve risks and
uncertainties. These statements may differ materially from actual
future events or results. For instance, factors which could cause
results to differ from future events include the state of the Mac
OS tools market, the timing of product deliveries, competitive
pricing actions and marketing programs, among others. Additional
information on these and other factors which could affect the
Company's financial results are included in the Company's 1996
annual report to shareholders and most recent quarterly reports on
file with the Securities and Exchange Commission.
Earnings Table
All figures are reported in '000s US dollars (except per share
amount):
Metrowerks Inc. Consolidated Statements of Operations
Yr End Yr End Qtr End Qtr End
7/31/97 7/31/96 7/31/97 4/30/97
Revenues, net 18,293 10,619 6,228 3,615
Cost of goods sold 4,563 2,663 1,062 958
SG&A and technical
support 8,121 4,620 2,437 2,203
R & D 6,486 3,251 2,272 1,828
Depreciation 1,154 355 360 324
Non-recurring charge 4,297 - - 4,297
Interest income (353) (375) (58) (75)
_______ _______ _______ _______
24,268 10,514 6,073 9,535
Net earnings/(loss) (5,975) 105 155 (5,920)
_______ _______ _______ _______
Earnings (loss)
per share (0.52) 0.01 0.01 (0.51)
_______ _______ _______ _______
Weighted average
number of shares
outstanding 11,523 10,620 11,646 11,529
Qtr End Qtr End Qtr End
1/31/97 10/31/96 7/31/96
Revenues, net 4,684 3,766 3,504
Cost of goods sold 1,449 1,094 1,069
SG&A and technical
support 1,813 1,636 1,386
R & D 1,327 1,091 1,217
Depreciation 261 209 160
Non-recurring charge - - -
Interest income (91) (129) (150)
_______ _______ _______
4,759 3,901 3,682
Net earnings/(loss) (75) (135) (178)
_______ _______ _______
Earnings (loss)
per share (0.01) (0.01) (0.02)
Weighted average
number of shares
outstanding 11,520 11,505 11,282
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(Sorry for the presentation of the sales figures - The info must be on Metrowerks web page as well metrowerks.com)
So........Onward and upward??
Bill |
