TRVL earnings out, UNFY earnings out, GVA earnings out.. All had record earnings
DELRAY BEACH, Fla., Feb. 17 /PRNewswire/ -- Travel Services International, Inc., d/b/a The Travel Company (Nasdaq: TRVL), a leading specialized distributor of leisure travel services, today reported a 72.6% increase in pro forma net revenues for the quarter ended December 31, 1998 as compared to the same period in 1997. Pro forma combined net income increased 386% for the 1998 fourth quarter as compared to the fourth quarter of 1997.
Pro forma net revenues in the 1998 fourth quarter totaled $32.3 million, an increase of $13.6 million over pro forma net revenues of $18.7 million for the fourth quarter of 1997. Pro forma net income was $2.6 million, or $0.19 diluted pro forma earnings per share, for the 1998 fourth quarter, as compared to pro forma net income of $525,000, or $0.04 diluted pro forma earnings per share, for the corresponding prior year period. Pro forma net income reflects a partial reversal of an accrual related to bonus payments for certain members of senior management.
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Unify Corporation Reports Record Third Quarter Results; Sees Continued Strength in VAR Channels and Increased Momentum to Capitalize On E-commerce Solutions
SAN JOSE, Calif.--(BUSINESS WIRE)--Feb. 17, 1999--Unify Corporation (NASDAQ:UNFY), a leading provider of Internet application server solutions today announced results for the fiscal 1999 third quarter ended January 31, 1999.
Total revenues for the third quarter of fiscal 1999 were $8.1 million as compared to $6.5 million from the prior year, representing an increase of 24%. Revenue from new product license fees was $3.1 million, reflecting a 55% increase from the third quarter last year. Total revenues from license fees were $5.3 million versus $4.2 million in the same period last year, an increase of 29%. License revenues represent 66% of total revenues in the current period, as compared to 64% for the third quarter of fiscal 1998. The third quarter fiscal 1999 net income was $1.4 million or $0.17 per basic share, as compared to net income of $76 thousand or $0.01 per basic share for the third quarter of last year. Net income was $0.15 per diluted share in the current quarter versus $0.01 per diluted share in the same quarter last year.
Revenue for the nine months ended January 31, 1999 totaled $21.9 million, as compared to $17.9 million in the nine months ended January 31, 1998. Net income was $2.5 million, or $0.30 per basic share for the nine months ended January 31, 1999, as compared to a net loss of $2.8 million, or $0.35 per basic share for the same period last year. Net income on a diluted share basis was $0.28 for the nine months ended January 31, 1999 versus a loss of $0.35 per diluted share for the same period a year earlier.
Markets/Earnings Announcements
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February 17, 1999 17:13
Granite Construction Reports Record Results for Fourth Quarter and Fiscal Year 1998
WATSONVILLE, Calif.--(BUSINESS WIRE)--Feb. 17, 1999--Granite Construction Incorporated (NYSE:GVA) today announced record net income for its fourth quarter ended December 31, 1998 of $10,059,000 or $0.36 per share on a diluted basis versus $5,631,000 or $0.21 per share for the same period last year. All share amounts are calculated on a post split basis. Revenue for the quarter totaled $338,000,000, an increase of 9.1% over the same period in 1997. The increase in net income is primarily due to higher revenue and an associated level of increased profitability in both divisions. The increase in fourth quarter revenue is due in part to drier weather in many of the company's geographic marketplaces.
For the year ended December 31, 1998, net income was a record $46,507,000 or $1.70 per share on a diluted basis compared to $27,832,000 or $1.03 per share for the year ended December 31, 1997. The 67.1% increase in net income is the result of increased demand for construction services and materials and a related increase in volume and margins in many areas served by the company. Record revenue for the year ended December 31, 1998 was $1,226,100,000, a 19.2% improvement over last year's level. Higher levels of public funding and a resurgence in private sector work contributed to the increase in revenue in 1998.
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