biz.yahoo.com
Wednesday February 3, 4:33 pm Eastern Time
Company Press Release
Crystal Reports Record 1998 Revenues and Earnings: Announces New Strategic Alliance With Amdahl Corporation's DMR Consulting Group
HERZILYA, Israel--(BUSINESS WIRE)--February 3, 1999--Crystal Systems Solutions (NASDAQ: CRYSF - news) reported today record earnings of $0.83 per share for fiscal year 1998. Revenues for the year ended December 31, 1998 increased by 76% to $ 42.9 million, as compared to $24.4 million for the year ended December 31, 1997. Net income for fiscal 1998 increased by 89% to $ 9.3 million, or $ 0.83 per share, as compared to $ 4.9 million, or $ 0.44 per share, for fiscal year 1997.
Revenues for the fourth quarter of 1998 increased by 52% to $11.7 million as compared to $7.7 million reported in the same period in 1997. Net income for the fourth quarter of 1998 increased by 51% to $ 2.6 million, or $ 0.25 per share, as compared to $ 1.7 million, or $0.16 per share, for the same period in 1997.
Crystal Systems Solutions also announced today that it has signed a strategic partnership agreement with the DMR Consulting Group, an affiliate of the Amdahl Corporation and part of the Fujitsu Group (TSE: 6702). This new cooperation allows the DMR/Amdahl - Crystal team to supply and implement Crystal's conversion methodology and tools for Euro-currency conversion projects to the wide range of DMR/Amdahl customers. |
