news on APTS
Apertus Technologies Announces Strong Quarter Over Quarter Growth; Restructured Company Building Revenue Momentum
EDEN PRAIRIE, Minn.--(BUSINESS WIRE)--May 7, 1998--Apertus
Technologies Incorporated (NASDAQ:APTS) announced today revenue growth
of 90% for the fourth quarter of fiscal year 1998 over third quarter,
reflecting increased sales momentum from refocusing the Company to
compete in the data warehouse and system conversion marketplace in
November 1997. Results for continuing operations for the fourth
quarter ended March 29, 1998 were revenues of $1.46 million with a net
loss of $(1.68 million) or $(.10) per share. The Company ended the
quarter with a strong balance sheet with approximately $11.1 million
in cash.
For the full fiscal year ended March 29, 1998, continuing
operations had revenues of $3.05 million, with a net loss of $(6.29
million) or $(.41) per share excluding non-recurring charges
associated with the Company's restructuring. The total net loss for
the year was $(11.8 million) or $(.78) per share, which includes
significant non-recurring charges incurred due to the restructuring,
income from operations of the Internet Solutions Division, and gain
from divestiture of that Division.
"Apertus made exceptional progress in the quarter, our second
quarter as a newly created data warehousing company. We won license
business with several major new customers, including Federal Express,
State of Colorado, Health Management Systems and Variable Annuity Life
Insurance Company (VALIC). During the quarter, several other customers
including Cargill, 3M, and Best Foods completed successful warehousing
projects utilizing our products and implementation services. We also
began to work effectively with our channel partners, Computer Sciences
Corporation and Sybase, Inc.," said Robert D. Gordon, Chairman, Chief
Executive Officer and President of Apertus Technologies Incorporated.
"Several key initiatives were completed, such as the addition of N-Way
Plus to Enterprise/Integrator(tm) for significantly faster
performance, the creation of our "Blue Ribbon" Customer Reference
Program to showcase our premiere customer implementations, and the
training of our entire sales and management organization in a new
solutions-oriented sales methodology."
"I am also pleased to announce the successful subleasing of our
corporate headquarters to Best Buy Co. Inc. (NYSE:BBY)," added Mr.
Gordon. "This transaction relieves us of a significant future
liability and allows the new company to relocate into smaller quarters
more appropriate to our restructured size."
Building on the momentum of the last few months, we will be
changing our name to Carleton Corporation, which takes advantage of
the name recognition among data warehouse implementers. Our tag line
"Pure data Pure results" signifies our focus on data integration and
delivering value to our customers. The corporate name and identity
program is designed to harmonize the Company in purpose, voice and
image, and further advance Carleton to a forerunner position in the
data warehouse market. Shareholders will be voting on the name at the
July shareholder meeting.
The information in this press release contains forward-looking
statements that involve risks. Apertus cautions readers that actual
results could differ materially from results suggested by these
statements. Factors that could cause actual results to differ are
discussed in the Company's annual report or Form 10-Q for the third
quarter ended December 28, 1997.
Apertus Technologies Incorporated
Apertus Technologies Incorporated (doing business as Apertus
Carleton Corporation) provides data integration solutions for business
critical applications, such as data warehousing and application
conversions. The Company markets its products and services to Fortune
1000 clients in industries such as financial services, insurance,
health care, and manufacturing. Headquartered in Eden Prairie,
Minnesota, Apertus Carleton distributes its technology and consulting
services through direct sales and channel partners worldwide. For more
information, call 800-328-3998, send e-mail to info@apertus.com, or
visit Apertus Carleton's Web site at carleton.com.
Apertus is a registered trademark and Enterprise/Integrator is a
trademark of Apertus Technologies Incorporated
I am in.
Joe PG&LI !!! |
