Dwight two items of good news for you in this post....
(1)I'm not dead...I tied the noose right but the shower curtain rod broke! <GG>
(2)See below!
STAMFORD, Conn., (October 23, 1997) - Hyperionr Software (NASDAQ: HYSW) today reported revenues of $60.9 million and net income of $3.5 million or $.18 per share for its first quarter ended September 30, 1997. Revenues and net income increased 32% and 72%, respectively, from $46 million and $2 million, or $.11 per share, for the same period of the prior year.
Software sales for the quarter grew 40%, driven by solid demand in each product line. Enterprise financial management, budgeting and planning, and business analysis all experienced healthy growth. Performance was strong across all geographic regions.
Hyperion was recognized during the quarter by International Data Corporation (IDC) as a leader and established specialist in the analytic applications market, a market predicted by IDC to exceed $2.6 billion in revenues by the year 2001.
Commenting on the quarter, Jim Perakis, chairman and CEO of Hyperion, stated: "Managers and financial professionals in large companies are becoming increasingly frustrated with the difficulty of extracting useful information from legacy systems and many ERP packages. We are seeing the beginning of a new wave of demand for analytic applications that address this problem, and that demand is reflected in Hyperion's software license growth in the quarter."
Perakis cited the findings of the 1997 Annual Survey of Financial and Accounting Systems co-sponsored by Deloitte & Touche LLP and Hyperion, noting that information access and better reporting capabilities were stated as the most important financial processes slated for improvement over the next two years.
Partnership activity also contributed to results. Hyperion's alliance with Baan generated sales in the quarter, with additional business anticipated from a solid pipeline over the next several quarters. Cooperative marketing has benefited both companies' sales efforts. Hyperion also announced an endorsement of Microsoft's OLAP (on-line analytical processing) standards, OLE DB for OLAP, which Hyperion believes will encourage openness and easier integration with diverse enterprise data sources.
Hyperion Software Corporation provides software solutions for better business understanding and improved financial performance. Hyperion's Internet-enabled applications support and enhance enterprise-wide processes including planning, budgeting, forecasting, consolidation and business analysis. With $223 million in sales for the year ended June 1997, the company's solutions are in use by more than 3,200 organizations, including more than 50% of the Fortune 500 and 40% of the Financial Times European Top 100. The company is ranked first worldwide in budgeting software revenue by International Data Corporation and first in financial OLAP applications by The OLAP Report. The company is headquartered in Stamford, Connecticut and has more than 1,200 employees worldwide. Additional information is available on-line at hyperion.com or at 1-800-286-8000.
This press release contains statements that are forward looking. These statements are based on current expectations that are subject to risks and uncertainties. Actual results will vary because of factors such as product ship schedules, life cycles, terms and conditions, product mix, competitive products and pricing, customer demand, technological shifts and other issues discussed in the company's filings with the Securities and Exchange Commission.
Hyperion Software Corporation
Consolidated Financial Data
(In thousands, except per share data)
First Quarter Ended September 30,
1997
1996
Statement of Income Data:
Software license revenues
$29,266
$20,906
License renewals & service revenues
31,638
25,081
Total revenues
45,987
Cost of revenues
21,056
16,215
Sales & marketing expenses
19,450
14,619
Product development expenses
8,350
7,872
General & administrative expenses
7,087
4,281
Net income
3,512
2,041
Earnings per share
.18
.11
R&D Spending
$ 9,025
$ 9,005
Sept. 30, 1997
June 30, 1997
Balance Sheet Data:
Cash & cash equivalents
$ 71,624
$ 67,059
Accounts receivable, net
61,960
64,831
Working capital
52,009
42,236
Total assets
218,642
218,639
Deferred revenue
45,232
44,619
Mortgage payable
7,733
7,823
Stockholders' equity
121,476
113,037
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