Wind River Q4 results
ALAMEDA, Calif., March 2 (Reuters) -
Wind River Systems, Inc.
Pro Forma Condensed Consolidated Statements of Income(1)
(in thousands, except per share amounts)
Three months ended Twelve months ended
January 31, January 31,
2000 1999 2000 1999
Revenues:
Products $ 40,885 $ 29,725 $125,529 $ 98,844
Services 12,544 9,452 45,581 33,058
Total revenues 53,429 39,177 171,110 131,902
Cost of revenues:
Products 3,926 2,237 11,124 8,224
Services 6,395 3,576 20,508 12,999
Total cost
of revenues 10,321 5,813 31,632 21,223
Gross profit 43,108 33,364 139,478 110,679
Operating expenses:
Selling and marketing 18,476 13,156 60,962 45,968
Product development
and engineering 8,290 5,518 29,659 19,147
General and
administrative 4,522 2,771 11,700 8,174
Total operating expenses31,288 21,445 102,321 73,289
Income from operations 11,820 11,919 37,157 37,390
Interest income
and other, net 2,373 1,397 6,439 4,801
Income before provision for
income taxes 14,193 13,316 43,596 42,191
Provision for
income taxes 5,323 4,822 16,350 16,087
Net income 8,870 8,494 27,246 26,104
Net income per share:
Basic 0.21 0.21 0.65 0.65
Diluted 0.19 0.19 0.61 0.60
Shares used in per share calculation
Basic 42,207 40,840 41,674 40,267
Diluted 47,416 44,391 44,778 43,843
NOTE: 1. The above Pro Forma Condensed Consolidated
Statements of Income for the fourth quarter of fiscal 2000 have
been adjusted to exclude charges of $817,000 related to the
implementation of an enterprise resource planning system,
$205,000 in connection with the integration of Integrated
Systems, Inc and $207,000 of amortization of goodwill. Pro
forma amounts for the twelve months of fiscal year 2000 further
exclude charges during the first quarter of $802,000 incurred
with hiring of Xact employees and the write-off of an
investment in and distribution agreement with Xact and $195,000
of amortization of goodwill; during the second quarter of $1.2
million incurred for the retirement package of the chief
executive officer, $929,000 for the transaction costs
associated with the acquisition of RouterWare, Inc. and
$207,000 of amortization of goodwill; and during the third
quarter of $1.3 million in connection with hiring our new chief
executive officer, $975,000 related to the implementation of an
enterprise resource planning system and $207,000 of
amortization of goodwill.
The fourth quarter of fiscal 1999 and the twelve months of
fiscal 1999 were adjusted to exclude amortization of goodwill
of $195,000 and $780,000, respectively.
Wind River Systems, Inc.
Condensed Consolidated Statements of Income
(in thousands, except per share amounts)
Three months ended Twelve months ended
January 31, January 31,
2000 1999 2000 1999
Revenues:
Products $ 40,885 $ 29,725 $125,529 $ 98,844
Services 12,544 9,452 45,581 33,058
Total revenues 53,429 39,177 171,110 131,902
Cost of revenues:
Products 4,094 2,405 11,796 8,896
Services 6,395 3,576 20,508 12,999
Total cost of revenues 10,489 5,981 32,304 21,895
Gross profit 42,940 33,196 138,806 110,007
Operating expenses:
Selling and marketing 18,476 13,156 60,962 45,968
Product development
and engineering 8,290 5,518 29,659 19,147
General and
administrative 5,583 2,798 17,544 8,282
Total operating expenses 32,349 21,472 108,165 73,397
Income from operations 10,591 11,724 30,641 36,610
Interest income
and other, net 2,373 1,397 5,939 4,801
Income before provision for
income taxes 12,964 13,121 36,580 41,411
Provision for
income taxes 4,897 4,751 14,109 15,788
Net income 8,067 8,370 22,471 25,623
Net income per share:
Basic 0.19 0.20 0.54 0.64
Diluted 0.17 0.19 0.50 0.58
Shares used in per
share calculation
Basic 42,207 40,840 41,674 40,267
Diluted 47,416 44,391 44,778 43,843
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