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DOCUMENTUM ANNOUNCES RECORD REVENUE AND PROFITS FOR THE FOURTH QUARTER 1998
20th Consecutive Quarter of Sequential Revenue Growth
PLEASANTON, Calif. -- Jan. 21, 1999 -- Documentum, Inc. (NASDAQ: DCTM), the recognized leader in enterprise document and knowledge management solutions for client/server and Web environments, today announced record revenues and net income for the fourth quarter and year ended December 31, 1998.
Revenues for the fourth quarter of 1998 were $36.4 million, a 54 percent increase over revenues of $23.6 million for the same period of 1997. Net income for the fourth quarter increased to $4.2 million compared with net income of $2.8 million reported for the same period of 1997. Earnings per diluted share grew 33 percent to $.24 in the fourth quarter, up from $.18 for the fourth quarter of 1997.
For comparative purposes, except where noted, the annual results discussed throughout this release exclude the effects of a one-time charge in the first quarter of 1998 of $2.2 million primarily related to the previously announced acquisition of Workgroup Management, Inc., which closed on January 5, 1998, and a one-time charge in the third quarter of 1998 of $34.6 million related to the previously announced acquisition of Relevance Technologies, Inc., which closed on July 16, 1998. For the year ended December 31, 1998, revenues were $123.8 million, a 64 percent increase over revenues of $75.6 million for the same period of 1997. Net income for the year ended December 31, 1998 was $12.9 million, or $.75 per diluted share, up from $7.4 million, or $.49 per diluted share for the same period of 1997.
"Our performance is a direct result of the steady execution of our strategy to automate the knowledge-based processes that are critical to global organizations' success," said Jeffrey A. Miller, president and chief executive officer of Documentum, Inc. |
