Well all you bulls ought to be pleased with this news,,,Damn it , I sold out today ....
kham, Ontario - July 7, 1998 (TSE: GAC) - Geac Computer Corporation Limited announced its fourth
quarter and annual results for the period ending April 30, 1998. Revenues for the quarter were $167.8
million, up 24% from the $135.1 million reported in the same quarter of fiscal 1997. Net income for the
quarter rose 159% to $53 million ($0.88 per share) from $20.5 million ($0.35 per share) in the fourth
quarter of 1997.
For fiscal year 1998, revenues reached $646.4 million, up 70% from the $381.2 million of last fiscal year.
Net income totaled $168.7 million ($2.82 per share), compared to a net loss of $71.1 million ($1.22 loss
per share) of fiscal 1997, when Geac expensed an unusual charge of $121.4 million.
"A sparkling performance indeed. It should be noted, however, that some of the circumstances and
activities that contributed to the fourth quarter net income peak, such as exceptionally favourable taxes
and the last part of the profitable financial clean up in the Dun & Bradstreet acquisition are now behind
Geac. On the other hand, Geac's much enhanced cash position further strengthens Geac's ability to
pursue acquisitions candidates, which it continues to do. Operational highlights included the on going
greater than 50% year over year growth in both Geac's Hotels and SmartStream Reconciliations
Divisions", said William G. Nelson, Chairman, President and CEO of Geac.
Subsequent to the end of the quarter, Geac acquired Remanco International, Inc., a supplier of restaurant
computer systems and the assets of Cruickshank Technology Pty Ltd., a supplier of maintenance
management software.
Geac Computer Corporation Limited delivers and supports total computer solutions, including complete
mission-critical client/server applications to various cross-industry and vertical markets worldwide. Geac
product and service information is available on the World Wide Web at geac.com, or through
Email at info@geac.com. Geac is a publicly traded company with its common shares listed on the
Toronto Stock Exchange (Symbol: GAC).
Geac Computer Corporation Limited
Financial Highlights
In millions of dollars, except per share amounts
4th Quarter
12 months
1998
1997
1998
1997
Revenues
167.8
135.1
646.4
381.2
Net Income (loss)
53
20.5
168.7
(71.10)
Basic Earnings (loss) per Share
0.88
0.35
2.82
(1.22)
Fully Diluted Earnings (loss) per Share
0.82
0.33
2.67
(1.22)
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