The link is available, with more information. But here is the release in a nutshell...
Enjoy!
Mohammed
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Tuesday January 27, 4:18 pm Eastern Time
Company Press Release
Saville Announces 1997 Results: Another Record Quarter And Year Fourth quarter revenues and earnings per share up 100% over prior year
BURLINGTON, Mass.--(BUSINESS WIRE)--Jan. 27, 1998-- Saville Systems PLC (NASDAQ:SAVLY - news), a leading provider of convergent billing and customer care software solutions for the telecommunications industry, today announced record fourth quarter and 1997 revenue, earnings per share, and ending cash and short term investment balances. The company posted fourth quarter and full year revenues of $32.8 million and $107 million, respectively, representing increases
over the previous year of 101 percent and 99 percent, respectively. Fourth quarter and 1997 diluted earnings per share of $0.20 and $0.61, respectively, were increases of 100 percent and 97 percent over the same periods in 1996. Cash and short term investment balances at year-end of $68.8 million, represented an increase of $12.3 million from September 30, 1997, and an increase of over 94% from the balances at December 31, 1996.
Saville's CFO Chris Hanson stated: ''1997 was a very successful year from a financial perspective. Services and license fee revenues for 1997 increased 91% and 135%, respectively, over 1996. Full-year and fourth quarter operating margins also improved from 24.6% and 26.6%, respectively, in 1996, to 28% and 29.9%, respectively, in 1997. Additionally, our fourth quarter DSO (days sales outstanding) of 62 days was at its lowest level since Saville went public in 1995.''
Three Months Ended Year Ended
Financial Highlights December 31 December 31
1997 1996 Change 1997 1996 Change
Revenues (in millions) $32.8 $16.3 101% $107.0 $53.9 99%
Net Income (in millions) 7.8 3.7 114% 23.9 11.6 107%
Diluted earnings
per share (a) $0.20 $0.10 100% $ 0.61 $0.31 97%
After-tax margin 23.8% 22.4% 1.4% 22.4% 21.5% 0.9%
Cash and short term
Investments -- -- -- $ 68.8 $35.4 94%
(a) Reflects November 1997 two-for-one Ordinary Share split and
adoption of SFAS No. 128--Earnings per Share.
Jack Boyle, Saville's President and CEO commented: ''This has been an unprecedented year in the history of Saville. The success we have experienced financially is a confirmation of our convergent billing solution, the strength of our client relationships, and the commitment of Saville employees. We are excited about our market momentum, market position and sales opportunities as we begin the new year.''
Boyle added, ''We are particularly pleased with the December release of our new Saville CBP(TM) for Oracle product which has been chosen by one of our new clients as its billing solution. Another recent contract with a client in the energy market represents a unique opportunity for Saville to provide a convergent billing solution for electricity, natural gas, telephony, and other service utilities. Several more new fourth quarter clients have continued to expand our reach domestically and internationally, and further establish our position in the CLEC marketplace.''
Founded in 1982, Saville is a leading provider of convergent billing and customer care solutions for the telecommunications industry. Saville operates globally with offices in the U.S., Canada, Ireland, Singapore, U.K. and Germany, and has more than 1,100 employees worldwide. Saville is a publicly held company, traded on
the Nasdaq National Market (US) market under the symbol SAVLY. For more information, Saville can be reached at www.savillesys.com, or call (+1)781-270-6500.
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This press release contains forward-looking statements that involve a number of risks and uncertainties. These forward-looking statements include Mr. Boyle's comments on marketplace position, momentum and sales opportunities. Among the important factors that could cause actual results to differ materially from those indicated by such forward looking statements are delays in product development, undetected errors or bugs in software, changes in product pricing policies, competitive pressures, lower-than-expected demand for telecommunications billing solutions, general economic conditions and the risk factors detailed from time to time in the Company's periodic reports and registration statements filed with the Securities and Exchange Commission. |
