Here's the full Bus. Wire text...Sounds great!
PLATINUM technology Expects to Report Better Than Anticipated First Quarter Results; Delivers Profit From Operations
Business Wire - April 13, 1998 08:12
%PLATINUM-TECHNOLOGY PLAT %ILLINOIS %COMED %COMPUTERS %ELECTRONICS %EARNINGS V%BW P%BW
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OAKBROOK TERRACE, Ill.--(BUSINESS WIRE)--April 13, 1998--PLATINUM technology, inc. (Nasdaq:PLAT) today announced record revenues of $158.3 million, a 37% increase over first quarter of 1997, and earnings of approximately $0.05 per share, for its first quarter ended March 31, 1998. PLATINUM noted that its anticipated first quarter profitability, in a quarter that has traditionally been the company's most challenging, reflects stronger than expected earnings from operations.
PLATINUM is in the process of completing its financial statements which will be issued, ahead of schedule, following the close of business on Tuesday, April 14, 1998. The earnings conference call will be held on Tuesday, April 14, 1998, 4:00 p.m. CDT.
PLATINUM originally scheduled the earnings call for Thursday, April 16. Learmonth and Burchett Management Systems (LBMS) shareholders will be submitting proxies on PLATINUM's acquisition offer on Wednesday, April 15. As a result, the earnings call is being expedited to provide LBMS shareholders with full disclosure of the state of PLATINUM's business.
About PLATINUM technology
PLATINUM technology, headquartered in Oakbrook Terrace, Illinois, provides software and services that help IT organizations manage and improve the IT infrastructure. Solutions include database and systems management, data warehousing and decision support, application infrastructure management, and Year 2000 reengineering. For information visit www.platinum.com.
All PLATINUM product names and product category names are trademarks of PLATINUM technology, inc. Other company names and product names referenced herein may be trademarks or registered trademarks of the respective corporation.
Safe Harbor Provision:
The statements contained in this release regarding PLATINUM's future operating results and performance and business prospects are "forward-looking statements" subject to the safe harbor created by the Private Securities Litigation Reform Act of 1995. Where possible, the words "expect," "believe," "anticipate," "predict" and similar expressions, as they relate to PLATINUM or its management, have been used to identify such forward-looking statements. These statements reflect PLATINUM's current beliefs and specific assumptions with respect to future business decisions and are based on information currently available to PLATINUM. Accordingly, the statements are subject to significant risks, uncertainties and contingencies which could cause PLATINUM's actual operating results, performance or business prospects to differ from those expressed in, or implied by, these statements. These risks, uncertainties and contingencies include the maturation and success of PLATINUM's software infrastructure strategy, risks inherent in conducting international business, risks associated with conducting a professional services business, changes in PLATINUM's product and service mix and product and service pricing, the effectiveness of PLATINUM's efforts to control operating expenses, general economic and business conditions in the United States and other countries in which PLATINUM sells its products and services, charges and costs related to acquisitions, risks relating to the Year 2000 challenge, and PLATINUM's ability to: develop and market existing and acquired products for the software infrastructure market; successfully integrate its acquired products, services and businesses and continue its acquisition strategy; adjust to changes in technology, customer preferences, enhanced competition and new competitors in the software infrastructure and professional services markets; protect its proprietary software rights from infringement or misappropriation; maintain or enhance its relationships with relational database vendors; and attract and retain key employees. PLATINUM is not obligated to update the information contained in this press release.
CONTACT: Analyst Contact:
Michael Cullinane
Chief Financial Officer
(630) 620-5000
or
Investor Contact:
Maria Dalesandro
IR Coordinator
(800) 655-9985 ext. 5
or
Media Contact:
Karen Andre
Media Relations Manager
(630) 691-0649
platinum.com |
