PLATINUM technology Expects to Report Better Than Anticipated First Quarter Results; Delivers Profit From Operations
OAKBROOK TERRACE, Ill.--(BUSINESS WIRE)--April 13, 1998--PLATINUM
technology, inc. (Nasdaq:PLAT) today announced record revenues of
$158.3 million, a 37% increase over first quarter of 1997, and
earnings of approximately $0.05 per share, for its first quarter ended
March 31, 1998. PLATINUM noted that its anticipated first quarter
profitability, in a quarter that has traditionally been the company's
most challenging, reflects stronger than expected earnings from
operations.
PLATINUM is in the process of completing its financial statements
which will be issued, ahead of schedule, following the close of
business on Tuesday, April 14, 1998. The earnings conference call will
be held on Tuesday, April 14, 1998, 4:00 p.m. CDT.
PLATINUM originally scheduled the earnings call for Thursday,
April 16. Learmonth and Burchett Management Systems (LBMS)
shareholders will be submitting proxies on PLATINUM's acquisition
offer on Wednesday, April 15. As a result, the earnings call is being
expedited to provide LBMS shareholders with full disclosure of the
state of PLATINUM's business.
About PLATINUM technology
PLATINUM technology, headquartered in Oakbrook Terrace, Illinois,
provides software and services that help IT organizations manage and
improve the IT infrastructure. Solutions include database and systems
management, data warehousing and decision support, application
infrastructure management, and Year 2000 reengineering. For
information visit www.platinum.com.
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All PLATINUM product names and product category names are
trademarks of PLATINUM technology, inc. Other company names and
product names referenced herein may be trademarks or registered
trademarks of the respective corporation.
Safe Harbor Provision:
The statements contained in this release regarding PLATINUM's
future operating results and performance and business prospects are
"forward-looking statements" subject to the safe harbor created by the
Private Securities Litigation Reform Act of 1995. Where possible, the
words "expect," "believe," "anticipate," "predict" and similar
expressions, as they relate to PLATINUM or its management, have been
used to identify such forward-looking statements. These statements
reflect PLATINUM's current beliefs and specific assumptions with
respect to future business decisions and are based on information
currently available to PLATINUM. Accordingly, the statements are
subject to significant risks, uncertainties and contingencies which
could cause PLATINUM's actual operating results, performance or
business prospects to differ from those expressed in, or implied by,
these statements. These risks, uncertainties and contingencies include
the maturation and success of PLATINUM's software infrastructure
strategy, risks inherent in conducting international business, risks
associated with conducting a professional services business, changes
in PLATINUM's product and service mix and product and service pricing,
the effectiveness of PLATINUM's efforts to control operating expenses,
general economic and business conditions in the United States and
other countries in which PLATINUM sells its products and services,
charges and costs related to acquisitions, risks relating to the Year
2000 challenge, and PLATINUM's ability to: develop and market existing
and acquired products for the software infrastructure market;
successfully integrate its acquired products, services and businesses
and continue its acquisition strategy; adjust to changes in
technology, customer preferences, enhanced competition and new
competitors in the software infrastructure and professional services
markets; protect its proprietary software rights from infringement or
misappropriation; maintain or enhance its relationships with
relational database vendors; and attract and retain key employees.
PLATINUM is not obligated to update the information contained in this
press release.
CONTACT:
Analyst Contact:
Michael Cullinane
Chief Financial Officer
(630) 620-5000
or
Investor Contact:
Maria Dalesandro
IR Coordinator
(800) 655-9985 ext. 5
or
Media Contact:
Karen Andre
Media Relations Manager
(630) 691-0649
platinum.com
KEYWORD: ILLINOIS
BW1033 APR 13,1998
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