Timberline Software reports fourth-quarter results
Business Wire - January 28, 1997 08:16
FINANCIAL TIMBERLINE-SOFTWARE TMBS OREGON COMED COMPUTERS ELECTRONICS
EARNINGS V%BW P%BW
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BEAVERTON, Ore.--Jan. 28, 1997--Timberline Software Corp. (NASDAQ:TMBS), a
leading developer of computer software for the construction and property management industries,
today reported fourth-quarter earnings of $.15 per share on a 14% revenue gain over the prior year.
Revenue for the quarter ended Dec. 31, 1996, was $8,223,000 up 14% over $7,188,000 for the
fourth quarter of 1995. Net income for the quarter was $850,000 or $.15 per share, down 7%
from $917,000 or $.17 per share for the fourth quarter of 1995.
For the year ended Dec. 31, 1996, Timberline set new highs for both revenue and earnings. The
company earned $2,184,000 or $.39 per share on revenue of $28.7 million compared to net
income of $1,733,000 or $.32 per share on revenue of $24.8 million for the year 1995.
"Strong growth in sales of our Windows-based software products helped us to achieve the highest
quarterly revenue in Timberline's history," said John Gorman, president. "However, increased
operating expenses prevented us from matching last year's record quarterly earnings."
Overall software sales for the quarter were $4,922,000, an increase of 21% over $4,072,000 a
year ago. Sales of Timberline's Windows-based construction accounting software increased 53%
over the prior year. Service fee revenue from support, maintenance and training increased 9% to
$3,194,000 in 1996 from $2,924,000 for the same quarter a year ago.
Operating expenses for the quarter increased 21% to $6,253,000 from $5,167,000 in 1995. The
increase was primarily due to increased personnel costs in the customer support and product
development areas and increased marketing expenses related to the introduction of two new
Windows-based software products.
Founded in 1971, Timberline Software Corp. is a leading supplier of accounting and financial
management software for the construction and property management industries.
TIMBERLINE SOFTWARE CORP.
FINANCIAL HIGHLIGHTS
Fourth Quarter Ended Year Ended
Dec 31, Dec 31,
1996 1995 1996 1995
Revenue $8,223,000 $7,188,000 $28,659,000 $24,819,000
Net Income 850,000 917,000 2,184,000 1,733,000
Earnings Per
Share .15 .17 .39 .32
Average Number
of Shares
Outstanding 5,704,000 5,478,000 5,651,000 5,440,000
CONTACT: Timberline Software Corp.
Thomas P. Cox, Senior VP - Finance, 503/626-6775
REPEATS: New York 212-752-9600 or 800-221-2462; Boston 617-236-4266 or
800-225-2030; SF 415-986-4422 or 800-227-0845; LA 310-820-9473
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