Symix(R) Announces Record Second Quarter; License Fees Increase 53
Percent
COLUMBUS, Ohio, Jan. 20 /PRNewswire/ -- Symix Systems, Inc., (Nasdaq NNM: SYMX - news) today announced
results for the second quarter and six months ended December 31, 1997. Total revenue for the quarter increased 45 percent
to $24.0 million compared with $16.5 million reported in the prior year. License fee revenue contributed significantly to the
strong revenue results growing 53 percent over the previous year. For the six months ended December 31, 1997, license fee
revenue grew more than 56 percent to $24.0 million and total revenue increased 42 percent to $41.6 million.
Excluding a one-time, non-recurring research and development charge of $6.5 million resulting from the Company's acquisition
of Pritsker Corporation, net income for the second quarter increased 51 percent over the previous year to $1.6 million. Diluted
earnings per share for the quarter excluding the non-recurring charge were $0.24 per share compared with $0.18 per share a
year ago. For the six months ended December 31, 1997, diluted earnings per share excluding the non-recurring charge were
$0.32 per share compared with $0.24 per share in the prior year.
''We are very pleased with our continued momentum in license fee revenue growth now having reported our third consecutive
quarter where we have realized a more than 50 percent growth in license fees,'' said Symix President and Chief Operating
Officer Stephen A. Sasser. ''North America contributed significantly to the favorable revenue performance. A strong and
capable sales management team in North America has been effective in delivering our expanding product line to the market.''
''Our European operations performed well, particularly in the UK where we realized record revenue results,'' Sasser added.
''Despite the concerns over the Asian economy, we closed our largest single contract ever in China with a value of
approximately $500,000. Asia represents approximately 10 percent of our total revenue for the six months ended December
31, 1997 and we are closely monitoring our spending levels in the region.''
In November, Symix acquired Pritsker Corporation, formerly a privately held Indiana corporation, which provides advanced
planning and scheduling (APS) and simulation application software to a worldwide customer base. The transaction was
accounted for as a purchase which resulted in a one-time, non- recurring research and development charge of approximately
$6.5 million in the quarter. According to company officials, the acquisition will make Symix the first enterprise resource
planning (ERP) company to bring advanced planning and scheduling (APS) to midsize manufacturers.
''With the acquisition of Pritsker Corporation,'' Sasser said, ''we have clearly and firmly entered into the next phase of the
company's evolution. The Pritsker acquisition broadens our product line and is integral to the execution of our company's
Customer Synchronized Resource Planning (CSRP) vision, which delivers an expanded view of what business systems should
provide for the midrange manufacturing market.''
Symix develops, markets and supports integrated, high-performance business management software systems for
manufacturers.
With more than 3,000 licenses sold, many of the world's most successful and innovative midsize organizations use Symix
software to help manage their businesses. Symix markets its products through sales and services offices in Australia, Europe,
North America, and the Pacific Rim. Additionally, SYMIX is sold through more than 40 independent software and support
business partners worldwide. Symix product and company information is available at the following URL:
symix.com.
The statements made in this press release which are not historical fact are ''forward-looking statements'' that involve risks and
uncertainties, including, but not limited to, product demand and market acceptance, variation of quarterly revenues, the effect
of economic conditions, the impact of competitive products, foreign currency fluctuations, pricing and other factors detailed in
Symix's filings with the Securities and Exchange Commission.
(Every day more than 90,000 people utilize the software. The company, founded in 1979, is focused on five key markets:
industrial equipment, furniture/fixtures, electronics, fabricated metals, and packaging and containers.)
SYMIX is a registered trademarks of Symix Systems, Inc. |
