RWAV Revenue Up 13% / Profit of .03 per share versus a loss of .05 in the same quarter a year ago.
DC
Rogue Wave Software Reports Financial Results for First Fiscal Quarter 2001
BOULDER, Colo., Jan 16, 2001 /PRNewswire via COMTEX/ -- Rogue Wave Software (Nasdaq: RWAV chart, msgs) today reported revenue for the first fiscal quarter ended December 31, 2000, of $14.3 million, up 13 percent from the $12.6 million achieved in the first fiscal quarter of 2000. Net income for the quarter was $364,000 or $0.03 per share on a basic and diluted basis, compared to a net loss of ($507,000) or ($0.05) per share reported for the same period last year.
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"We are very pleased with the first quarter results. Our introduction of a large-scale objects solution coupled with positive growth in the distribution of our core products in the European markets were the primary factors contributing to the strong financial performance during the first quarter," commented Jack Iacobucci, CEO and president of Rogue Wave. "Our solutions continue to focus on our object technology in solving large-scale business problems.
"Our performance during the first quarter clearly demonstrates progress in the execution of the company's strategic objective to become a leading provider of products and services in a key future technology market," continued Iacobucci.
Rogue Wave Software's earnings call will be available live via our website at www.roguewave.com as well as by calling (800) 450-0819 beginning at 4:30 p.m. EST. There will also be an on-demand Webcast replay of the conference call beginning two hours after the conclusion of the live broadcast at www.StreetFusion.com until January 25, 2001.
About Rogue Wave Software
Rogue Wave Software Inc. (Nasdaq: RWAV chart, msgs), offers an extensive family of pre-built C++ and XML components. Enterprises of all sizes use Rogue Wave's application development technology and extensive consulting services to build their business and e-business solutions. Today more than 300,000 developers around the globe leverage Rogue Wave's products to facilitate the rapid development of robust, enterprise-level general-business and e-business applications. With headquarters in Boulder, Colorado, Rogue Wave Software has offices located throughout the United States, Europe, and Asia and can be found on the Internet at www.roguewave.com.
The company's investor relations department can be reached by e-mail at ir@roguewave.com, by phone at (303) 545-3311, or through the company's Web site at www.roguewave.com. To obtain corporate information immediately by fax, call (800) 758-5804, and enter account code 108-822.
Rogue Wave is a registered trademark of Rogue Wave Software, Inc. All other trademarks are the property of their respective owners.
This release may contain projections or other forward-looking statements regarding future events or the future financial performance of the company that involve risks and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results. Readers are referred to the documents filed by Rogue Wave with the SEC, specifically the most recent reports on Form 10-K and 10-Q, including amendments thereto, which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements, including risks associated with acquisition strategy, dependence on new product offerings, competition, patents, intellectual property and licensing, future growth, rapid technological and market change, manufacturing and sourcing risks, Internet infrastructure and regulation, international operations, volatility of stock price, financial risk management, and potential volatility in operating results, among others.
ROGUE WAVE SOFTWARE, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
December 31, September 30,
2000 2000
(unaudited)
A S S E T S
Current assets:
Cash and short-term investments $33,048 $33,526
Accounts receivable, net 12,536 12,101
Prepaid and other current assets 2,970 3,102
Total current assets 48,554 48,729
Equipment, net 5,172 5,208
Other assets, net 1,564 1,682
Total assets $55,290 $55,619
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable $333 $880
Accrued expenses 5,553 5,746
Deferred revenue 11,732 11,700
Total current liabilities 17,618 18,326
Stockholders' equity:
Common stock 11 11
Additional paid-in capital 40,801 40,801
Retained deficit (3,055) (3,419)
Other comprehensive loss (85) (100)
Total stockholders' equity 37,672 37,293
Total liabilities
and stockholders' equity $55,290 $55,619
ROGUE WAVE SOFTWARE, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data, unaudited)
Three months ended
December 31,
2000 1999
Revenue:
License revenue $6,788 $6,812
Service and maintenance revenue 7,507 5,804
Total revenue 14,295 12,616
Cost of revenue:
Cost of license revenue 259 444
Cost of service and
maintenance revenue 2,917 1,927
Total cost of revenue 3,176 2,371
Gross profit 11,119 10,245
Operating expenses:
Product development 3,794 3,655
Sales and marketing 6,099 5,572
General and administrative 1,148 1,348
Acquisition, relocation,
and goodwill amortization -- 601
Total operating expenses 11,041 11,176
Income (loss) from operations 78 (931)
Other income, net 482 335
Income (loss) before income taxes 560 (596)
Income tax expense (benefit) 196 (89)
Net income (loss) $364 $(507)
Basic and diluted earnings
(loss) per share $0.03 $(0.05)
Shares used in basic
per share calculation 10,909 10,195
Shares used in diluted
per share calculation 10,972 10,195
Source: Rogue Wave Software Inc.
Contact:
Sherry Beck, Investor Relations of Rogue Wave Software,
303-545-3311, ir@roguewave.com; or Jodi Bochert, Investor Relations of Metzger
Associates, 303-786-7000, jodi@metzger.com, for Rogue Wave Software
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