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To: GARY P GROBBEL who wrote (17996)	2/17/2004 10:35:01 AM
From: GARY P GROBBEL	Read Replies (1) \| Respond to of 120415

TMLN .62/.95...see Fri release ref $1.75m settlement in TMLN's favor ref patent enforcement settlement w/Cognos. That equals $.42 per sh as TMLN has 4.14m shares out. Their base biz is also improving (see below). Note also that the award w/Cognos brings ttl patent enforecement settlements to approx $14m so far. And there are add'l violators and we will see how that works out down the road. See last Feb ruling TMLN vs MSFT where TMLN prevailed in Wash St Superior court: B: Timeline Reports Third Quarter Fiscal 2004 Loss of $201,000 or B: Timeline Reports Third Quarter Fiscal 2004 Loss of $201,000 or $0.05 Per Shar BELLEVUE, Wash., Feb 12, 2004 (BUSINESS WIRE) -- Timeline, Inc. (OTCBB:TMLN), today reported software license revenue increased 25% without the benefit of any patent license activity in its third fiscal quarter of 2004, and rose 55% year-to-date compared to the same periods in fiscal 2003. Solid performance from the European subsidiary and continuing growth in maintenance fees helped produce a 25% increase in total revenues for the third quarter ended December 31, 2003. In Q3 2004, Timeline posted a loss of $201,000, or $0.05 per share, compared to a loss of $272,000, or $0.07 per share, in Q3 2003. Year-to-date the company's loss was $471,000, or $0.11 per share, compared to $97,000, or $0.02 per share in the first nine months of fiscal 2003. There was no patent license activity in the third quarter of either fiscal 2004 or 2003, although the company initiated litigation for patent infringement against one of its primary competitors. Total revenues in Q3 2004 were $863,000 compared to $689,000 in Q3 2003. Year-to-date total revenues declined 14% to $2.9 million, with only $150,000 from patent licensing, compared to $3.4 million, of which $1.1 million was generated from patent licenses, in the first nine months of fiscal 2003. "The third quarter is traditionally our weakest quarter, and this year proved no different," said Charles R. Osenbaugh, President and CEO. "In spite of the long holiday interruption, our European colleagues generated solid contributions to revenue during the quarter. They are expanding relationships with important new OEM distribution partners and building a pipeline of future business." Analyst Financials, the company's European subsidiary, generated $414,000, or 48% of Q3 2004 revenues and produced $1.4 million or 46% of year-to-date revenues. Corporate-wide maintenance revenues increased 15% in Q3 2004 to $327,000 compared to Q3 2003, and were up 11% to $918,000 in the first nine months of the year compared to the same period in fiscal 2003. Patent license fees contributed only 5% of revenues so far this year, whereas they contributed 31% of revenues in first three quarters of fiscal 2003. Over the last five years, software license and maintenance revenues have increased and patent license fees have decreased as a percentage of total revenues as noted in the following table: