Thursday January 28, 4:48 pm Eastern Time
Sapient Q4 net rises
CAMBRIDGE, Mass., Jan 28 (Reuters) -
Fourth Quarter Financial Statement
(in thousands, except per share amounts)
Three Twelve
Months Ended Months Ended
December 31, December 31,
1998 1997 1998 1997
Revenues $52,454 26,965 160,372 90,360
Operating expenses:
Project personnel costs 25,437 12,997 77,565 43,816
Selling and marketing 3,692 2,090 11,129 5,893
General and administrative
13,583 6,483 40,489 22,108
Amortization of intangibles 559 -- 687
Acquisition Costs 560 560
Charge for in process research
and development -- -- 11,100 --
Total operating expenses
43,271 22,130 140,970 72,377
Income from operations 9,183 4,835 19,402 17,983
Interest income 724 507 2,957 2,078
Income before income taxes 9,907 5,342 22,359 20,061
Income tax expense 3,895 2,106 8,660 7,703
Net income 6,012 3,236 13,699 12,358
Basic net income per share 0.23 0.13 0.54 0.52
Diluted net income per share 0.21 0.12 0.49 0.47
Pro-forma net income (1) 6,012 3,583 20,725 12,705
Pro-forma basic
net income per share (1) 0.23 0.15 0.82 0.53
Pro-forma diluted
net income per share (1) 0.21 0.14 0.74 0.49
Weighted average
common shares 26,151 24,176 25,323 23,996
Weighted average
common stock equivalents 2,393 2,156 2,578 2,083
Weighted average
common shares and stock
equivalents outstanding 28,544 26,332 27,901 26,079
(1) Pro-forma amounts exclude the impact of the one-time
charge related to in-process research and development
associated with the acquisition of Studio Archetype Inc. in
1998 and acquisition costs related to Exor Technologies Inc.
in 1997.
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