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Gold/Mining/Energy : GEAC.....Canadian best kept secret -- Ignore unavailable to you. Want to Upgrade?

To: Tom W. who wrote (144)	12/17/1997 6:50:00 AM
From: Herb Duncan	Read Replies (1) \| Respond to of 1571

Here it is folks, lets see what today brings. FOR: GEAC COMPUTER CORPORATION LIMITED TSE SYMBOL: GAC DECEMBER 16, 1997 Geac Achieves Record Revenues and Income MARKHAM, ONTARIO--Geac continued its strong operating results, achieving record revenues and income in the Second Quarter of Fiscal 1998. Revenues for the Second Quarter of Fiscal 1998 were $158.8 million, compared to $50.6 million in the previous year's Second Quarter. Net income for the Quarter was $40.1 million ($0.67 per share), compared to $8.1 million ($0.14 per share) in the prior year. Revenue for the first six months of the year was $304.4 million, up significantly from the $102.1 million reported in the prior year. Net income for the six month period was $70.9 million ($1.20 per share) compared to $16.7 million ($0.29 per share) reported in the same period last year. Geac's shares were split two for one effective October 31, 1997. Per share earnings amounts quoted above have been restated to reflect the increased number of common shares. Service and support revenue was $88.9 million in the Second Quarter, up slightly from $87.8 million in the First Quarter of this year. This reflects, in part, the effectiveness of Geac's customer support and retention programs. System sales and related services were $69.4 million in the Second Quarter, up substantially from $57.0 million in the First Quarter of this year. Management is encouraged by the more than 20 percent quarter over quarter growth in variable revenue, mainly new sales - a positive result of increased R&D spending and Geac's recent emphasis on growing the sales force. William G. Nelson, Chairman, President and CEO of Geac, said "The end of Q2 marks a full year since the acquisition of Dun & Bradstreet Software. Six months of culture and value focused restructuring were required, resulting in substantially improved margins by Q1 this year. The DBS business generated more than $100 million net cash in its first 12 months, indicating that Geac can expect to meet its normal target for acquisitions of a cash return on the purchase price ($256 million in this case) within three or four years." During the Second Quarter, Geac acquired all of the outstanding shares of DDN Holdings Northern Ltd. and its subsidiaries (operating as the AMS Group). The AMS Group is a premier computer services provider in Northern Ontario and this acquisition enhances Geac's coverage and portfolio of service offerings. It is with a sense of loss and sadness we report that Donald C. (Ben) Webster, a director since 1987, passed away on December 13, 1997. Mr. Webster was for many years the Chairman of the Board and the key to the revitalization of Geac as reflected in the progress over the past ten years. Geac Computer Corporation Limited delivers and supports total computer solutions, including complete mission-critical client/server applications to various cross-industry and vertical markets worldwide. Geac product and service information is available on the World Wide Web at geac.com, or through the Internet Email at solution @geac.com. Geac is a publicly traded company with its common shares listed on the Toronto Stock Exchange (Symbol-GAC). /T/ Geac Computer Corporation Limited Financial Highlights In million of dollars, except per share amounts 2nd Quarter 6 months YTD 1998 1997 1998 1997 Revenues 158.8 50.6 304.4 102.1 Net Income 40.1 8.1 70.9 16.7 Basic Earnings per Share 0.67 0.14 1.20 0.29 Fully Diluted Earnings per Share 0.63 0.14 1.11 0.28