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Technology Stocks : SERENA Software, Inc. (SRNA) -- Ignore unavailable to you. Want to Upgrade?

To: Jeffrey Lee who wrote (87)	8/20/1999 2:09:00 AM
From: Jeffrey Lee	Read Replies (1) \| Respond to of 123

SERENA Software Reports Thursday August 19, 4:40 pm Eastern Time biz.yahoo.com Company Press Release SOURCE: SERENA Software, Inc. SERENA Software Reports Record Second Quarter Results Pro forma License Revenue up 44%, EPS up 67% BURLINGAME, Calif., Aug. 19 /PRNewswire/ -- SERENA Software, Inc. (Nasdaq: SRNA - news), a global company providing software infrastructure products and consulting best practices that automate the management of enterprise software changes, announced today record revenue and reported net income per diluted share excluding amortization of intangible assets and acquired in-process research and development of $0.15 for the second fiscal quarter ending July 31, 1999. Total revenue for the second quarter of fiscal 2000 was $17.8 million, an increase of 73% and 43% over the historical and pro forma results in the same quarter of fiscal 1999. Software license revenue for the second quarter of fiscal 2000 increased to $9.5 million up 69% and 44% over the historical and pro forma results in the same quarter of fiscal 1999. Maintenance revenue for the second quarter of fiscal 2000 increased to $6.2 million up 52% and 38% when compared to the historical and pro forma amounts from the same quarter a year ago. Operating income before acquired in-process research and development for the second quarter increased to $4.7 million up 110% and 83% over last year's corresponding quarter's historical and pro forma amounts. Net income and net income per diluted share for the second quarter of fiscal 2000, excluding amortization of intangible assets and acquired in-process research and development, increased 113% to $3.8 million and 67% to $0.15, compared to pro forma net income and net income per diluted share of $1.8 million and $0.09 in the same quarter a year ago. Including amortization of intangible assets and acquired in-process research and development, net income and net income per diluted share were $2.4 million and $0.09 as compared to $1.4 million and $0.08 on a historical basis in the same quarter a year ago. Second Quarter Highlights -- Acquired Diamond Optimum Systems, Inc. on June 14, 1999 ("Diamond") which made distributed systems software change management immediately available. The one-time charge for in-process research and development is the result of accounting for the strategic acquisition as a purchase. -- Announced the availability of eChange Man(TM), a solution that helps companies manage change and development of their accelerating e-business initiatives. The combination of eChange Man and SERENA's Change Man(TM) solution provides a single infrastructure for software change management to improve the quality, reduce the time to deliver Internet and software applications and increase overall application availability. -- Released version 5.4.0 of StarTool, the file and data management product that allows businesses to create, automate and analyze test data throughout the enterprise faster and more efficiently. StarTool offers a fully-supported, comprehensive set of utilities that can be used for application development, systems programming, system testing, system conversions and system recovery. -- Entered into a technology integration alliance with Peregrine Systems to deliver an automated solution for identifying and resolving desktop configuration problems. This alliance will provide system healing capabilities that reduce the time to resolve desktop configuration problems and increase application uptime and availability. ``These record results combined with the successful acquisition of Diamond and our first distributed systems revenues make this a milestone quarter for SERENA,' said Richard A. Doerr, Chief Executive Officer. ``We delivered eChange Man, a distributed systems solution that provides software change management to help our customers manage and speed e-business, Web and enterprise-wide software initiatives.' For the six months ended July 31, 1999 total revenue was $32.0 million, an increase of 69% and 37% over the historical and pro forma results in the first six months a year ago. License revenue for the first six months of this year was $16.5 million, an increase of 65% and 40% over the historical and pro forma results a year ago. Net income and net income per diluted share for the first half of fiscal 2000 increased 108% to $6.5 million and 63% to $0.26 compared to pro forma net income and net income per diluted share in the first six months a year ago, excluding amortization of intangible assets and acquired in-process research and development. The pro forma information and the majority of the amortization of intangible assets are a result of the September 25, 1998 acquisition of Optima Software Inc., which was the primary distributor of SERENA's flagship Change Man© product. The acquisition was accounted for as a purchase and the pro forma information reflects the acquisition as if it had occurred on February 1, 1997. Historical results include the operations of Optima Software, Inc. from the date of acquisition.