Andrew-
Informix Reports .05 a share.... <ggg> here comes the pop I talked about....
Wednesday February 11, 4:19 pm Eastern Time
Company Press Release
Informix's Preliminary Fourth Quarter Results Show Solid Progress
Posts a $17.8 Million Operating Profit, Exceeding Expectations
MENLO PARK, Calif.--(BUSINESS WIRE)--Feb. 11, 1998--Informix Corporation (NASDAQ:IFMX - news) today announced preliminary, unaudited results for the fourth quarter and full year ended December 31, 1997. The following preliminary results are subject to the completion of the audit of Informix's 1997 financial statements by Informix's independent auditors.
Total revenue in the fourth quarter was $181.2 million, and Operating Profit was $17.8 million. Net income was $9.2 million and earnings per share were 5 cents on a diluted basis. For fiscal year 1997, total revenue after restatement was $662.3 million, and Operating Loss was $357.3 million, including a $108.2 million restructuring charge. Net loss applicable to common stockholders was $358.8 million and loss per share was $2.36.
From the third quarter of 1997, the Company demonstrated sequential quarter over quarter growth in all geographic areas including Asia Pacific with total revenue increasing by 21%. License revenues increased by 36% quarter over quarter. The Company recorded an Operating Profit compared to a $106.3 million Operating Loss in the third quarter, and a net income, compared to a Net Loss of $110.5 million in the third quarter.
On the financing side, a sale of property in Santa Clara was completed for $60 million, as well as the private offering of $50 million of preferred convertible stock to a group of investors led by an affiliate of Credit Suisse First Boston and including affiliates of Castle Creek Partners and Heights Capital Management. A $75 million revolving credit facility syndication has been fully completed and the credit line was effective as of December 30, 1997. The Company has not drawn on this facility. Informix ended the year with approximately $155.5 million of cash and short term investments on hand.
''1997 was a very difficult year for Informix, but the fourth quarter demonstrates solid progress towards our goals,'' said Bob Finocchio, chairman and CEO of Informix. ''We exceeded street expectations and were able to post a profit in the fourth quarter. I am pleased that we experienced traction at the top line, controlled our costs and improved our ongoing financial stability. Although our work is far from complete, we have made progress on our way toward building the new Informix.''
About Informix
Informix Corporation, located in Menlo Park, is the world's database technology leader and provides innovative database products that enable the world's major corporations to attain competitive advantage. Informix is widely recognized as the technology leader for corporate computing environments, ranging from small workgroups to very large parallel processing applications.
Informix's database servers, application development tools, superior customer service and strong partnerships enable the company to be at the forefront of major information technology solution areas including data warehousing, OLTP, and Web/content management. For more information, visit our Web site at informix.com.
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Contact:
Informix Software
Earl Aiken, 650/926-6841 (Financial Analysts)
or
Wilson-McHenry Company
Stephen Jones, 650/638-3400 x246 (Editorial)
Yvette Huyhen, 650/638-3400 X281 (Industry Analysts |
