For those who who haven't seen:
NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: GEAC COMPUTER CORPORATION LTD.
TSE SYMBOL: GAC
SEPTEMBER 15, 1998
Geac Reports Fiscal Q1 Results
MARKHAM, ONTARIO--Geac reported strong operating results for the
first quarter of fiscal 1999. Revenues reached $173.5 million, up
19 percent over the $145.6 million of the same quarter last year.
Net income is $38.6 million ($0.63 per share) up 25 percent from
the $30.8 million ($0.52 per share) reported for the first quarter
of fiscal 1998. Cash balances at the end of the quarter exceeded
$215 million and Geac has an unused line of credit of
approximately $100 million.
During the quarter, Geac acquired all outstanding interest in
Remanco International, Inc., an acquisition that will bolster
Geac's market share in the restaurant systems business. Geac also
acquired the assets of Cruickshank Technology Pty Limited of
Australia, and this maintenance management business will enhance
Geac's StreamLine ERP division.
Subsequent to the end of the quarter, Geac acquired Interealty
Corp. of Virginia, U.S.A. With annual revenues of approximately
$100 million, Interealty is a premier supplier of real estate
information systems to the brokerage market in North America.
Interealty serves 300,000 real estate professionals daily through
its software and services to the Multiple Listing Services (MLS)
and various regional real estate boards. In addition, Interealty
has a presence in the growing Internet marketplace, building and
managing web sites for major real estate brokerage firms.
Geac also announced the formation of the SmartEnterprise Solutions
division, which melds together the EnterpriseServer and
SmartStream divisions in order to enhance Geac's position in the
Financials and Human Resources markets. The new division
establishes a single point of customer contact for both sales and
services, and will offer closer integration of the
EnterpriseServer and SmartStream product lines.
Founded in 1971, Geac is a provider of mission critical enterprise
applications, supplying industry specific software to ten vertical
markets as well as cross industry administrative applications
comprised of financial, human resources and materials management
software. Headquartered in Markham, Canada, Geac has more than 90
offices in 16 countries and serves customers in more than 40
countries 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).
/T/
Geac Computer Corporation Limited
Financial Highlights
In millions of dollars, except per share amounts
1st Quarter
' Fiscal Fiscal
1999 1998
Revenues 173.5 145.6
Net Income 38.6 30.8
Basic Earnings per Share 0.63 0.52
Fully Diluted Earnings per Share 0.60 0.49
/T/
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FOR FURTHER INFORMATION PLEASE CONTACT:
GEAC Computer Corporation Ltd.
Press Contact:
Faye Hou
(905) 475-0525
email: f.hou@geac.com
Does anyone know what were the projected earnings?
Dale |
