ISLI.. up nice.. INTERSOLV Reports Fourth Quarter and Year End Results for Fiscal 1998; <ISLI.O>
INTERSOLV Reports Fourth Quarter and Year End Results for Fiscal 1998;
Earnings More Than Tripled on 22 Percent Increase in Revenues
ROCKVILLE, Md., June 1 /PRNewswire/ -- INTERSOLV, Inc. (Nasdaq: ISLI) today announced financial results for the fourth fiscal quarter and year ended April 30, 1998. Fourth quarter record earnings from operations were $.33 per share, up threefold from $.11 per share in the fourth quarter last year.
Revenues reached a record high $58.4 million, up 22 percent compared to $47.9 million in the fourth quarter of last year.
Revenue growth was led by the company's Automated Software Quality business which represented 60 percent of company-wide revenues and grew 42 percent during the quarter. Similarly, INTERSOLV's Enterprise Application Renewal business, driven by strong Year 2000 and Euro currency demand, grew revenue 66 percent to $7.4 million. The company's Data Connectivity business unit, which represents 22 percent of worldwide revenues, reversed a declining
revenue trend by posting 4 percent revenue growth in the fourth quarter.
Fueled by a 26 percent growth in license fee revenue, INTERSOLV's three key businesses grew 33 percent in the fourth quarter, excluding discontinued product lines.
For the year ended April 30,1998, earnings, before one-time charges, were $.77 per share, up from $.36 per share in the prior fiscal year. Record revenues for the fiscal year increased 22 percent, to $196.5 million, compared to $160.4 million in the prior year. The Automated Software Quality (PVCS) business unit grew 36 percent year over year. Revenues for the Enterprise Application Renewal business quadrupled, ending the fiscal year at $26 million. |
