wonder if anybody will even pay attention to this great news...
TEL AVIV, Israel, Oct. 28 /PRNewswire/ -- New Dimension Software, Ltd.
(Nasdaq: DDDDF) today announced record revenues and record income for the
third quarter ended September 30, 1997. Total revenues for the quarter ended
September 30, 1997 were $17,567,000, a 56 percent increase as compared to
$11,291,000 in the same period last year. Net income increased by 86 percent
to $3,104,000 (or $0.25 per share), a record quarterly level for the Company,
as compared to net income of $1,671,000 (or $0.15 per share) for the same
period last year.
Total revenues for the nine month period ended September 30, 1997 were
$46,544,000, a 56 percent increase as compared to $29,864,000 in the same
period last year. Net income for the nine month period increased by 189
percent to $7,557,000 (or $0.62 per share), as compared to net income of
$2,616,000 or ($0.23 per share) for the same period last year.
On a geographic basis, New Dimension Software's revenues increased in all
regions of the world during the third quarter as compared to the same quarter
last year. Revenues for the third quarter increased by 78 percent in North
America, by 7 percent in Europe and by 48 percent in the rest of the world, as
compared to the same quarter last year.
Revenues derived from product sales reached record levels during the third
quarter, and grew by 66 percent as compared to the same period last year. The
revenues from sales of client/server products as a percentage of total product
sales were 49 percent in the third quarter.
Maintenance revenues reached record levels during the third quarter, and
grew by 38 percent as compared to the same period last year.
"We are very pleased with the record results of the third quarter," said
Dan Barnea, the Company's CEO. "During the third quarter, the Company was
awarded two major contracts each totaling over $1 million: a $1.7 million
contract with a large US retailer and a $2.7 million agreement with a major
telecommunications company. We are pleased to have been selected by these and
other organizations around the world. We believe that these contracts reflect
a commitment on the part of large, global organizations to our technology, and
reinforce New Dimension Software's leadership position as the 'best of breed'
provider of Enterprise Production Management(TM) solutions."
"Also during the quarter, the Company made strides into the Tandem market
with the acquisition of the Tandem product line from ENlighten Software
Solutions Inc. of San Mateo, California," Mr. Barnea continued. "Used by more
than 450 customers worldwide, the products purchased by New Dimension Software
include the following: a tape management system, a set of SQL management
utilities, a security reporting system and a performance management solution -
- the Tandem Performance Monitor. We believe this investment in technology
will strengthen the Company's position in both the Tandem market and the
overall multi-platform market."
He added, "New Dimension Software continues to focus on providing
solutions that perform with industry standards enterprise-wide. During the
third quarter, the Company entered into partnership agreements with companies
such as BMC, Oracle Corporation and Sapiens, and continued to work with SAP to
enhance integration between our products and theirs. Organizations today face
the challenge of retaining their investment in technologies from multiple
vendors, and we remain committed to providing systems management solutions
that help them meet this challenge."
"This quarter, we are also pleased to announce the promotion of Darroll
Buytenhuys, who was named president of the Company's North American
subsidiary," Mr. Barnea said. "The New Dimension Software organization
continues to grow and evolve as a market leader in its three core competency
areas: Enterprise Production Management, Enterprise Output Management(TM) and
Enterprise Security Management. The appointment of Mr. Buytenhuys to this new
role is a significant step in further strengthening the Company's management
team." |
