CBT Group Reports First Quarter Financial Results
BusinessWire, Tuesday, April 27, 1999 at 07:36
REDWOOD CITY, Calif.--(BUSINESS WIRE)--April 27, 1999--CBT
Group PLC (NASDAQ:CBTSY) today announced financial results for its
first quarter ended March 31, 1999.
Revenues for the first quarter were $40.2 million, compared to
$39.9 million in revenues for the first quarter of 1998. Net income
for the quarter was $1.3 million or $0.03 per equivalent American
Depositary Share.
"I am pleased with the results we achieved," said CBT Group
Chairman William G. McCabe. "We delivered a solid performance during
the first quarter and continued to make good progress toward our
revenue and profitability growth objectives."
"For the second consecutive quarter, CBT Group has comfortably
met its objectives, demonstrating that our strategies have produced
tangible results," said Gregory M. Priest, CBT Group president and
CEO. "We added more than one hundred new corporate customers during
the quarter, as well as signing more than five contracts valued at
over $1 million each, including a $1.1 million contract with DynCorp
that we announced today.
"We continue to invest aggressively in research and development,
expanding the breadth of our product offerings and taking important
steps toward developing future generations of our award-winning
courseware and deployment systems.
"CBT Group continued to develop and introduce new interactive
training titles at an aggressive rate, delivering 74 new titles in the
quarter, bringing the company's library of courseware to a total of
911 titles. In addition, CBT Group produced 40 new translated titles
in the first quarter, bringing the company's library of translated
courseware to a total of 302 titles," Priest stated.
"The strength of our library is not only in its depth and
breadth, but also in the quality of our offerings," Priest continued.
"In testament to this, and for the third consecutive year, CBT Group
was awarded, this quarter, the Institute of IT Training's Gold Award
for the Self Study Course of the Year."
This press release may contain forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
Any forward-looking statements in the press release are subject to
certain risks and uncertainties that could cause actual results to
differ materially from those stated. Factors that could cause or
contribute to such differences include those discussed in CBT Group's
Form 10-K for the year ended Dec. 31, 1998. Any forward-looking
statements in this press release reflect management's opinions only as
of the date hereof and CBT Group assumes no obligation unless required
by law to revise or publicly release the results of any revision to
any such forward-looking statements.
About CBT Group
CBT Group PLC (NASDAQ:CBTSY) is a leading provider of
interactive education software for information technology
professionals in business, education and government markets worldwide.
The company's comprehensive library, which covers a range of
client-server, mainframe and Internet and intranet technologies, is
used by the world's leading organizations to train employees to
develop and apply mission-critical technologies in the workplace.
For information about CBT Group's products, call (888) 714-5900,
fax (800) 387-0933, or send an email to salesinfo@cbtsys.com. CBT
Systems is located on the World Wide Web at cbtsys.com.
Note to Editors:
CBT Systems and the CBT Systems logo are trademarks of CBT Group
PLC. All other company and product names may be trademarks of the
respective companies with which they are associated. |
