Subj: Software Publishing Corporation Holdings, Inc. Announces Record 1997 Third Quart
Date: 97-11-14 19:00:13 EST
From: AOL News
BCC: Semcominc
SAN JOSE, Calif., Nov. 14 /PRNewswire/ -- Software Publishing Corporation
Holdings, Inc. (Nasdaq: SPCO) today announced results for the third quarter
ended September 30, 1997. The Company achieved record third quarter net sales
of $4,032,609 in fiscal 1997 as compared to third quarter fiscal 1996 net
sales of $1,687,889. The Company also reported that its gross profits
increased in the third quarter of fiscal 1997 to $3,081,238 from $1,300,545 in
the third quarter of fiscal 1996.
The Company reported a net loss of ($2,910,837) or ($0.36) per share in
the third quarter of fiscal 1997 as compared to a loss of ($6,629,323) or
($1.80) per share in the third quarter of fiscal 1996. The Company had
weighted average shares of common stock outstanding of 8,050,424 in the third
quarter of fiscal 1997 and 3,600,435 in the third quarter of fiscal 1996.
The Company also had record net sales of $12,127,172 during the
nine-month period ending September 30, 1997 as compared to $2,554,937 in the
nine-month period ending September 30, 1996. The Company also reported that
its gross profits increased in the 1997 nine-month period to $9,396,432 as
compared to $1,825,424 in the 1996 nine-month period. The Company reported a
net loss of ($7,551,677) or ($0.94) per share in the nine-month period ending
September 30, 1997 as compared to a net loss of ($8,146,482) or ($2.44) per
share in the nine-month period ending September 30, 1996. The Company had
weighted average shares of common stock outstanding of 8,011,628 in the 1997
nine-month period and 3,331,920 in the 1996 nine-month period.
Barry Cinnamon, the Company's Chairman of the Board, President and Chief
Executive Officer, remarked that "the Company's 1997 third quarter results
reflect the continued integration of the businesses we have acquired since
mid-1996. The Company's net sales and gross margins have increased
significantly with the acquisition of Serif Inc., Serif (Europe) Limited and
Software Publishing Corporation. The Company has continued to reduce its
employee headcount and carefully monitor expenses in order to progress toward
its goal of becoming profitable. In the third quarter of 1997, the Company
released Serif PagePlus 5(TM), an upgrade of the award-winning PagePlus line
of products. This high quality and low cost desktop publishing product is
receiving high acclaim from reviewers, and includes new features including a
Photo Optimizer, Web Publishing capabilities and an Autofit function based on
the Company's Intelligent Formatting technology."
New Products
Two new products are being released in the fourth quarter of 1997,
ActiveMail(TM) and Serif MailPlus(TM). ActiveMail is "The Essential Graphic
Solution for Visual E-mail(TM)" and is a good tool for business professionals
who need to ensure that colleagues, customers, and venders notice their e-mail
communications. Serif MailPlus is the Company's new e-mail product focused on
the consumer. It allows the novice consumer to create and send graphics
quickly and easily via e-mail. MailPlus is an easy and fun solution for the
whole family that adds graphics to e-mail messages. Both of these products
are compatible with most e-mail software.
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 ActiveMail(TM), ActiveOffice(TM), ActivePresenter(TM),
ActivePresenter Plus(TM), ASAP WordPower(TM), ASAP WebShow(TM), ASAP(TM) and
MailPlus(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.
Condensed Balance Sheet Data (Unaudited):
September 30, 1997
Total Current Assets $ 5,447,093
Property and equipment, net 703,656
Acquired software, net 5,022,333
Goodwill and other assets, net 3,746,934
Total Assets $14,920,016
Total liabilities $ 9,683,699
Total stockholders' equity $ 5,236,317
Condensed Statement of Operations (Unaudited):
Quarter ended
September 30,
1997 1996
Net sales $ 4,032,609 $ 1,687,889
Gross profit $ 3,081,238 $ 1,300,545
Amortization of acquired software
and goodwill and depreciation $ 847,847 $ 62,461
Net loss ($ 2,910,837) ($ 6,629,322)
Net loss per common share ($ 0.36) ($ 1.80)
Weighted average number of common shares
Outstanding 8,050,424 3,680,435
Nine Months Ended
September 30,
1997 1996
Net sales $12,127,172 $ 2,554,937
Gross profit $ 9,396,432 $ 1,825,424
Amortization of acquired software
and goodwill depreciation $ 2,537,384 $ 76,996
Net loss ($ 7,551,677) ($ 8,146,482)
Net loss per common share ($ 0.94) ($ 2.44)
Weighted average number of common shares
Outstanding 8,011,628 3,331,920
SOURCE Software Publishing Corporation Holdings, Inc.
CO: Software Publishing Corporation Holdings, Inc.
ST: California
IN: CPR MLM
SU: ERN |
