INTELLICORP: IntelliCorp reports rebound in fourth quarter revenues
M2 PRESSWIRE-31 August 1999-INTELLICORP: IntelliCorp reports rebound in fourth quarter revenues (C)1994-99 M2 COMMUNICATIONS LTD
IntelliCorp, Inc. (NASDAQ:INAI), a leading provider of ERP lifecycle management software and solutions, today reported revenues of $6,147,000 for the fourth quarter ended June 30, 1999. This compares to revenues of $5,026,000 for the third quarter of this fiscal year, and to $7,312,000 for the fourth quarter a year ago.
On a pro forma basis, which excludes amortisation charges and in-process R&D charges related to purchased intangibles, the Company had a net loss of ($663,000) or ($0.05) per share, compared to a net loss of ($1,381,000) or ($0.10) per share in the third quarter, and a net income of $588,000 and $0.03 per share in the fourth quarter of last fiscal year. On a reported basis, including the impact of purchased intangibles, IntelliCorp's net loss was ($804,000) or ($0.06) per share, compared to a net loss of ($1,629,000) or ($0.12) per share in the third quarter, and a net income of $340,000 and $0.01 per share in the fourth quarter of last fiscal year.
"We are pleased to report that total fourth quarter revenue increased by 22% over the third quarter", said Ken Haas, IntelliCorp's president. "More importantly, worldwide license revenue grew by 46% compared to the third quarter, while domestic US license revenue was over three times our third quarter level. This significant performance improvement is indicative of the progress we have made in the rebuilding of our sales infrastructure and pipeline in a relatively short period of time. The revenue growth this quarter was also driven by increased leverage from SAP implementation partners, which is a key component of our sales strategy."
Fourth quarter highlights included:
-The addition of 40 new license customers including, among others, Firestone, Florida Power and Light, Fluor Corporation, Montana Power and Light, Connectiv, Allied Signal, Newbridge Networks, and Advance Transformer in the Americas; Siemens AG ICP, Minolta, and Amadeus in Europe; Embraer in Brazil; and SK C&C in South Korea.
-The announcement by BancTec, Inc., a worldwide systems integration and services company, that it has extended its SAP R/3 solution by creating an electronic link with 15 critical customers, using IntelliCorp's LiveInterface(TM) product.
-Formal unveiling of our LiveCompass(TM) solution, a powerful offering of "reverse engineering" products and services that allows corporations to achieve significant savings each time they adapt their SAP(TM) R/3(R) implementation to changing business needs to perform life-cycle activities such as upgrades and multi-site roll-outs.
-Launch of the MigratorPlus(TM) software and services program designed to quickly migrate existing SAP R/3 interfaces to the sophisticated management and monitoring infrastructure of IntelliCorp's LiveInterface product.
-Receipt of Business Application Programming Interface (BAPI) validation from SAP for our LiveInterface product.
-Launch of our new sales operation in Germany to capitalise on Europe's largest SAP market.
-Successful participation in SAP's European SAPPHIRE user group conference In Nice, France this past May.
-Publication on April 15 of an "Impact" report by the Aberdeen Group, a computer industry market research and consulting organisation, which concludes that IntelliCorp's LiveInterface 2000 yields a 'killer' R/3 integration/transformation solution, reducing total project time and costs for SAP customers.
The statements in this release that relate to future plans, events or performance are forward-looking statements. Actual results might differ materially due to a variety of factors. Additional information about these factors is contained in our most recent report on Form 10-KSB under the sections pertaining to Business and Risk Factors as well as in our Form 10-QSB under the section entitled Management's Discussion and Analysis of Financial Conditions and Results of Operations.
About IntelliCorp
IntelliCorp is a leading provider of ERP lifecycle management software and solutions. The Company offers a comprehensive suite of business process management and applications integration tools, training, and consulting to maximise ERP efficiencies and data utilisation. IntelliCorp's product and solution family includes LiveModel(TM), LiveCompass(TM), LiveInterface(TM), MigratorPlus(TM), LiveTransfer(TM), and LiveAnalyst(TM), and additional products under development. Headquartered in Mountain View, California, IntelliCorp has offices across the United States and Europe, and distributors throughout the world. IntelliCorp's web site is intellicorp.com.
IntelliCorp is a registered trademark of IntelliCorp, Inc. LiveModel, LiveAnalyst, LiveInterface, are trademarks of IntelliCorp, Inc. SAP, R/3, and all SAP product and service names referenced herein are trademarks or registered trademarks of SAP AG. All other marks are used for the benefit of their respective owners, and IntelliCorp, Inc. disclaims any interest in such marks.
CONTACT: Alison Tre, IntelliCorp Ltd Tel: +44 (0)118 974 3000 Bill Moores/Sue Eyles, Moores Associates Tel: +44 (0)1628 686916
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INTELLICORP INC - INAI
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08/31/99 14:48 PM EDT
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