2 earnings plays that might see action tomorrow: MUSE.. XIRC beat estimates. and SEBL was very strong most of the morning allow nice profit taking from the past 4 or 5 trading sessions.
Posted this as earnings play, it got hit just like all the others but might turn tomorrow. This is one to watch in the morning.
Micromuse Announces Record Results for Second Quarter of Fiscal 1999
Revenues Advance 104% from Comparable Quarter Last Year
SAN FRANCISCO--(BUSINESS WIRE)--April 19, 1999--Micromuse Inc. (Nasdaq: MUSE - news), the leading provider of service-level management software, today announced record financial results for its second quarter of fiscal 1999 ended March 31, 1999.
Revenues were $12.6 million, an increase of $6.4 million over the comparable quarter of fiscal 1998. Net income for the quarter was $2.0 million, or $0.12 per share on a diluted basis, as compared with a net loss of $1.0 million, or a loss of $0.10 per share, in the second quarter of fiscal 1998. Excluding the one-time executive hiring costs and a tax credit related to prior years' net operating losses, the pro-forma fully diluted earnings per share for the quarter ended March 31, 1999, would have been $0.07, assuming a 35% effective tax rate.
For the six months ended March 31, 1999, revenues were $23.5 million, 113% greater than revenues of $11.0 million for the six months ended March 31, 1998. Net income for the six month period was $3.4 million or $0.21 per share as compared to a loss of $3.2 million or a loss of $0.40 per share for the period ended March 31, 1998.
''Growth in the Internet, increasing data traffic and competition and deregulation in the communications industry is increasing the demand for the Netcool® product suite,'' said Greg Brown, Chairman and Chief Executive officer of Micromuse. ''It's clear that new and existing customers continue to derive significant value from our products.''
Micromuse added 69 new customers in the quarter, including CapRock Communications, Powertel, SingTel, Telstra, VIP Calling and XTRA (Telecom New Zealand). At the same time, the company recorded sales into new divisions of current customers such as AT&T, Bell South, BT, Deutsche Telekom and Telecom Italia, and expanded existing implementations with Frontier Communications, NTT and MCI WorldCom.
''It is our belief that companies such as these, through their innovative use of our products, will be the winners in the network service wars of the future,'' said Brown.
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