Thursday January 28, 4:48 pm Eastern Time Sapient Q4 net rises
CAMBRIDGE, Mass., Jan 28 (Reuters) - Fourth Quarter Financial Statement (in thousands, except per share amounts) Three Twelve Months Ended Months Ended December 31, December 31, 1998 1997 1998 1997 Revenues $52,454 26,965 160,372 90,360 Operating expenses: Project personnel costs 25,437 12,997 77,565 43,816 Selling and marketing 3,692 2,090 11,129 5,893 General and administrative 13,583 6,483 40,489 22,108 Amortization of intangibles 559 -- 687 Acquisition Costs 560 560 Charge for in process research and development -- -- 11,100 -- Total operating expenses 43,271 22,130 140,970 72,377 Income from operations 9,183 4,835 19,402 17,983 Interest income 724 507 2,957 2,078 Income before income taxes 9,907 5,342 22,359 20,061 Income tax expense 3,895 2,106 8,660 7,703 Net income 6,012 3,236 13,699 12,358 Basic net income per share 0.23 0.13 0.54 0.52 Diluted net income per share 0.21 0.12 0.49 0.47 Pro-forma net income (1) 6,012 3,583 20,725 12,705 Pro-forma basic net income per share (1) 0.23 0.15 0.82 0.53 Pro-forma diluted net income per share (1) 0.21 0.14 0.74 0.49 Weighted average common shares 26,151 24,176 25,323 23,996 Weighted average common stock equivalents 2,393 2,156 2,578 2,083 Weighted average common shares and stock equivalents outstanding 28,544 26,332 27,901 26,079 (1) Pro-forma amounts exclude the impact of the one-time charge related to in-process research and development associated with the acquisition of Studio Archetype Inc. in 1998 and acquisition costs related to Exor Technologies Inc. in 1997. |