WIND: actual .11 vs estimated .08 !!!
Thursday June 1, 4:08 pm Eastern Time
Company Press Release
Wind River Systems Reports First Quarter
Revenues Of $91.6 Million
ALAMEDA, Calif.--(BUSINESS WIRE)--June 1, 2000--Wind River Systems, Inc. (Nasdaq:WIND - news), a leading
provider of software and services for smart devices in the Internet Age, reported its first quarter results for the period
ended April 30, 2000. Total revenues for the first quarter were $91.6 million, a 34% increase from revenues of $68.3
million reported in the same period of fiscal year 2000.
Excluding non-operating charges related to the acquisitions of Integrated Systems, Inc. (ISI) and Embedded Support
Tools Corporation (EST) and to the amortization of goodwill, purchased technology and other intangibles, operating
income was $3.4 million or 4% of revenue compared to $8.5 million or 13% for the same period last year. Excluding
non-operating charges, net income was $7.8 million or $0.11 per diluted share compared to $7.0 million or $0.11 per
diluted share for the first quarter last year. Net income for the quarter included pre-tax gains of $6.4 million from the sale
of investments in Liberate Technologies, Inc. and e-Sim, Ltd.
On an as-reported basis, including $9.6 million of amortization of goodwill, purchased technology and other intangibles
and $30.7 million of acquisition related charges, net loss was $32.4 million or a loss of $0.48 per diluted share for the first
quarter of fiscal year 2001, compared to actual net income of $6.4 million or $0.10 per diluted share for the same period
last year.
``I'm pleased with how well the company performed in Q1, the first quarter of combined operations with ISI and EST,''
said Tom St. Dennis, president and CEO of Wind River. ``We closed two major acquisitions and announced a third,
merged sales forces and development teams, announced our roadmap for the convergence of our flagship pSOS© and
VxWorks© real time operating systems (RTOS), and simultaneously accelerated growth. We have sustained our
momentum from Q4, and are on track to achieve our product development and corporate objectives for fiscal 2001.''
Q1 FY 2001 Highlights
During the quarter, Wind River completed the acquisitions of ISI and EST. The company also announced a definitive
agreement to acquire AudeSi Technologies, and completed that acquisition just after the close of the quarter.
A validation of the Center of Excellence initiative, which was introduced in September of 1999, came with the announced
availability of the Tornado© II platform on Intel's Pentium III processor, concurrent with Intel's announcement of the
Pentium III architecture.
Wind River had over 800 design wins in the first quarter. One interesting example was goReader's unique university
e-book, which replaces a backpack full of heavy books, and runs the VxWorks RTOS using Personal JWorks(TM)
technology. Other design wins and follow-on purchases from customers in networking, consumer electronics, and
transportation/defense/industrial applications included projects for Boeing, Hitachi, Hewlett-Packard Company, Jet
Propulsion Laboratory, MUSIC Semiconductors, NASA, PMC-Sierra, Richard HIRSCHMANN GmbH& Co., Sony
Corporation, Sun Microsystems, Inc., TiVo, Inc., and Zhone Technologies, to name a few.
Finally, several customers successfully brought their Wind River-based designs to market, including the Ceiva Internet
picture frame, Pingtel's xpressa VoIP phone, and Telestream's ClipExpress digital media delivery solution.
Conference Call Management will host a conference call at 2:00 p.m. Pacific Standard Time on June 1, 2000 to discuss
these results. You may listen to the conference call by calling 800-863-4938 in the U.S. and 706-634-7025
internationally. You may also listen in live via our webcast at www.windriver.com. A replay of the conference call will be
available after 5:30 p.m. Pacific Standard Time on June 1, 2000. You may listen to the replay of the conference call by
calling 800-642-1687 in the U.S. and 706-645-9291 internationally and enter the conference I.D. 532626.
About Wind River Systems, Inc.
Wind River Systems, Inc., windriver.com, is a worldwide leader in embedded software. Wind River provides
software development tools, real-time operating systems, and advanced connectivity for use in products throughout the
Internet, telecommunications and data communications, digital imaging, networking, medical, computer peripherals,
automotive, and aerospace/defense markets. Wind River is how smart things think. Founded in 1983, Wind River is
headquartered in Alameda, California, with operations in fifteen countries worldwide.
Except for the historical information contained herein, this news release contains forward-looking statements, including
those relating to acquisition and integration costs, contemplated product offerings, partnerships with customers and market
share that involve risks and uncertainties that could cause actual results to differ materially from those contemplated herein.
Factors that could cause or contribute to such differences include but are not limited to timely development, acceptance
and pricing of new products, the impact of competitive products and pricing, and other risk factors detailed in the
company's 2000 Annual Report on Form 10-K and other periodic filings with the Securities and Exchange Commission.
The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new
information, future events, or otherwise.
Note to Editors: Wind River Systems, the Wind River Systems logo, VxWorks, Tornado, pSOS, and pRISM are
trademarks or registered trademarks of Wind River Systems, Inc. All other names mentioned are trademarks, registered
trademarks or service marks of their respective companies or organizations.
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