FYI: Earnings look good. Beat expectations (again).
International Network Services Announces Fourth Quarter
Results With an 88% Increase in Earnings and 72%
Increase in Revenue
PR Newswire - July 27, 1998 16:45
SUNNYVALE, Calif., July 27 /PRNewswire/ -- International Network Services (Nasdaq: INSS), today announced record revenue and net income for the fourth quarter ended June 30, 1998. Revenue for the fourth quarter reached $52.5 million, a 72% increase from revenue of $30.5 million for the same period a year ago. Net income for the quarter increased 88% to $5.2 million, or $.15 per share, compared to $2.7 million, or $.08 per share a year ago.
Revenue for fiscal 1998 reached $169.7 million, a 71% increase from revenue of $99.3 million for fiscal 1997. Net income for the full year increased 104% to $16.1 million, or $.47 per share, compared to $7.9 million, or $.24 per share a year ago.
"We are very pleased with our results for the fourth quarter and the fiscal year," stated Don McKinney, Chairman of the Board. "We continued to deliver strong financial results while investing in the management and systems necessary to support our growth."
John Drew, President and Chief Executive Officer added, "We continued to successfully execute our growth strategy during the quarter. We launched our strategic alliance with Microsoft. This quarter, we capped off a record fiscal year by hiring 184 employees, opening 4 new offices, and adding 72 new clients to our blue chip client list. In addition to strong revenue and earnings growth during this past fiscal year, we established 288 new account relationships, opened 10 new geographic markets, including our first international markets in the United Kingdom and Canada, and grew our EnterprisePRO business by over 200%. I thank our 1,353 committed employees for making fiscal 1998 so successful."
International Network Services (INS) is a global provider of solutions for complex enterprise networks. INS provides professional services for the full life cycle of a network, including planning, design, implementation, operations and optimization, and maintains expertise in the most complex network technologies and multi-vendor environments. INS also provides solutions for certain repetitive network management tasks, such as network monitoring and network performance reporting. As of June 30, 1998, INS had 1,353 employees and provided service from 36 locations. INS' headquarters are located at 1213 Innsbruck Drive, Sunnyvale, CA 94089. The INS Web site is located at ins.com. INS is a public company, trading under the Nasdaq symbol INSS. |
