they got upped along wit evryting else 2day
Pumatech Updates Financial Guidance
January 05, 2004 08:08:12 (ET)
SAN JOSE, Calif., Jan 05, 2004 /PRNewswire-FirstCall via Comtex/ -- Pumatech, Inc. (PUMA, Trade), a leading provider of synchronization software and services, today announced revised financial guidance for its second and third fiscal quarters, based on the planned integration of Synchrologic into Pumatech's overall operations. Pumatech completed its acquisition of Synchrologic, Inc., a leading provider of enterprise-level mobile infrastructure software, on Dec. 29, 2003. As a result, Pumatech's second fiscal quarter, which ends Jan. 31, 2004, will include Synchrologic's revenue and expenses after Dec. 29, 2003. The Company's previous guidance was issued on Nov. 20, 2003.
In today's revised financial guidance, Pumatech announced that it expects to generate revenue of approximately $9.8 million to $10.2 million in its second fiscal quarter, and $12.5 million to $13.5 million in its third fiscal quarter. These revenue projections represent quarter-to-quarter revenue growth of approximately 22 to 27 percent for the second fiscal quarter and 27 to 32 percent for the third fiscal quarter. Same period year-to-year quarterly revenue growth is projected to be 68 to 75 percent for the second fiscal quarter and 86 to 101 percent for the third fiscal quarter of 2004.
Pumatech also announced that it expects to report a GAAP loss of $.03 to $.06 per share in the second fiscal quarter and a GAAP loss of $.01 to $.02 per share in third fiscal quarter. The projected second fiscal quarter loss per share reflects an in-process research and development expense of $.04 per share related to the Company's acquisition of Synchrologic, Inc., and severance and facilities costs of $.02 per share.
Pumatech expects a pro-forma profit of $.00 to $.01 per share in the second fiscal quarter and a pro-forma profit of $.00 to $.01 per share in the third fiscal quarter. The third fiscal quarter pro-forma earnings estimate assumes that Pumatech's patent-infringement lawsuit against Extended Systems, Inc. will go to trial as scheduled in April 2004, thus driving at least $.01 per share of litigation-related expenses in the quarter. (Pro-forma profit or loss represents a non-GAAP financial measure. A table reconciling this measure to the appropriate GAAP [Generally Accepted Accounting Principles] measure is included at the end of this press release.)
"We believe this acquisition positions Pumatech as a leading provider of synchronization and mobile infrastructure solutions to the corporate and consumer markets," said Pumatech President and CEO Woodson (Woody) Hobbs. "We are pleased with the timing of the acquisition, which comes on the heels of Synchrologic's release of its exciting new version of Synchrologic Mobile Suite with powerful, new 'push' capabilities."
Synchrologic Mobile Suite software extends enterprise email and applications, automates the delivery of documents and Web sites, delivers relevant travel information for mobile professionals, and provides mobile systems management tools for laptops, handhelds and smart phones. Key revenue-generating Synchrologic Mobile Suite customers and partners include
3M, Accenture, Citicorp, Domino's, J.D. Edwards, Nintendo, Microsoft, NEC, Pfizer, T-Mobile and Verizon Wireless.
Synchrologic Mobile Suite 5.4, announced last month, offers broad device support to push enterprise information -- including email, calendar and other PIM data, along with files and corporate application data -- to mobile workers. The product's patent-pending Push Mobile(TM) technology uses the IP-based network connectivity of WiFi, WAN or LAN networks to deliver "Always There" data across virtually all networks and device types. This new method of delivering essential information to mobile workers allows business to be conducted virtually anywhere, with confidence that all corporate data -- from important email to files to application updates -- will be automatically available to mobile workers when needed.
"While we certainly welcome Synchrologic's contribution to Pumatech's top line, we're also very happy with the progress we're making in returning the Company to profitability," said Keith Kitchen, Pumatech's vice president of finance. "We will continue to watch our expenses carefully to help ensure bottom-line improvement."
The Company expects to report full financial results for the second fiscal quarter on Feb. 26, 2004, after the market close. Details for this event will be posted on the Company's Web site investor relations page in mid-February. |
