Visio Corporation announces first quarter 1999 results
Presswire - January 27, 1999 15:29
* The company reports its 15th consecutive growth quarter; record number of new seats in a single quarter.
SEATTLE, January 20, 1999 --- Visio Corporation (NASDAQ: VSIO) today reported results for the first quarter of fiscal 1999. Revenues for the quarter ended December 31, 1998 were $48.2 million, a 29 percent increase over first quarter fiscal 1998 revenues of $37.5 million. Net income for the first quarter increased 36 percent to $10.0 million compared to net income for the first quarter of fiscal 1998 of $7.4 million. Diluted earnings per share for the first quarter of fiscal 1999 were $0.32 compared to diluted earnings per share of $0.24 for the first quarter of fiscal 1998, and represented an increase of 33 percent.
The company sold a record 272,000 new seats during the quarter, a 44 percent increase over the prior year quarter, bringing the total installed base to nearly 2.8 million users. In the December 1998 quarter the volume licensing channel grew 150 percent over the December 1997 quarter to $17.2 million, representing a record 36 percent of total revenue.
"The continued strength of our volume licensing channel, and strong product line spanning across the enterprise, contributed to the increase in new users," stated Jeremy Jaech, president and CEO of Visio Corporation. "We will continue to invest in growing our worldwide corporate sales organization to further tap into the great potential within large organizations. This team will focus on further penetrating our existing accounts and bringing new users to Visio technology."
The introduction of Visio Enterprise in November 1998, a new product for the IT market segment, also drove revenue growth in the quarter. The IT design and documentation product group contributed $25.7 million in revenue, or 53 percent of total revenue. "We're very pleased with the initial acceptance of Visio Enterprise and recognize that we are just at the front end of the cycle for upgrades and new user purchases," said Steve Gordon, chief financial officer for Visio Corp. "Research that we've gathered shows that the market for our IT products in the U.S. alone represents approximately 2.7 million IT professionals"
For the December 1998 quarter international revenues were $18.7 million, representing 39 percent of total revenue. European revenue for the quarter increased 33 percent over the prior year quarter to $13.6 million
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