Inprise Reports Fourth Quarter 1998 and Year-End Results
SCOTTS VALLEY, Calif.--(BUSINESS WIRE)--Jan. 27, 1999--
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-- 86 Percent Growth from Enterprise Business Over Year-Ago Quarter
-- Company Signs Significant Sales Contracts with New Global
Customers
-- Inprise Application Server Meets with Early Success
-- Inprise Creates Two Separate Divisions to Accelerate Strategic
Transformation
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Inprise Corporation (Nasdaq:INPR) today announced results for its
1998 fourth quarter and fiscal year ended December 31, 1998. In a
separate announcement today, Inprise announced an aggressive
restructuring of the Company with the formation of two separate
operating divisions, Inprise and borland.com. The divisionalization
will include a streamlining of facilities, headcount and product lines
designed to increase operating efficiency.
For the fourth quarter, the Company reported net revenues of
$48.1 million, a decrease of 3 percent when compared with net revenues
of $49.7 million in the quarter ended December 31, 1997. For the
quarter, the Company recorded net income of $3.5 million, a 379
percent gain compared with net income of $730,000 during the same
quarter a year ago. Diluted earnings per share for the fourth quarter
were $0.06, compared with diluted earnings per share of $0.01 in the
quarter ended December 31, 1997.
Common shares and dilutive securities outstanding were 55.2
million and 57.7 million for the quarters ended December 31, 1998 and
1997, respectively. |
