Axent Tech Estimate -4: First Call Puts Year Net $1.04/Shr
Axent Technologies expects to report a break-even operating net income for fiscal 1999
ending Dec. 31.
The company also expects to report fiscal 1999 revenue between $120 million and $130 million.
A First Call survey of 15 analysts produced a mean estimate for the company's fiscal 1999 earnings of $1.04 a share.
The computer security software developer had operating net income of 80 cents a diluted share on revenue of $101 million for fiscal 1998. (END) DOW JONES NEWS 04-05-99 09:39 AM
AXENT Announces Preliminary Results for First Quarter 1999
ROCKVILLE, Md.--(BUSINESS WIRE)--April 5, 1999--AXENT Technologies, Inc. (NASDAQ:AXNT)
today announced that based on preliminary review of the Company's results for the first
quarter ended March 31, 1999, revenues are expected to be in the range of $20 million to
$22 million compared with revenues of $20.3 million for the same period of 1998. The
Company expects a loss for the quarter between $0.05 to $0.10 per share, before
non-recurring charges associated with the acquisitions of Internet Tools and PassGo,
compared to income from continuing operations of $0.12 per share before non-recurring
items for the same period of 1998.
"After 11 consecutive quarters of exceeding our expectations, we are disappointed with
the results of the first quarter," said John Becker, CEO and chairman of the board of
AXENT. "Like other software companies, we have experienced unanticipated delays with a
number of enterprise orders for a variety of reasons including the shifting of customer
budgets and spending to year 2000 and other issues. Based on the preliminary quarterly
results and subject to continuing general market uncertainties leading up to the year
2000, we now expect 1999 revenues to be in the range of $120 million to $130 million and
earnings to be approximately break-even before non-recurring items."
"We will not let the results of this quarter diminish our conviction that AXENT's
long-term strategy is correct," continued John Becker. "We will continue to deliver the
breadth of products and services necessary for our customers to conduct e-business
securely. Furthermore, we are stepping up investment in product development and marketing
to better position us for the year 2000 and beyond."
Complete results for the first quarter of 1999 are expected to be reported on April
29, 1999.
About AXENT(TM)
AXENT Technologies, Inc., a global leader in information security, provides e-security
solutions that maximize our customers' competitive advantage. As a trusted partner, AXENT
delivers integrated products and expert services to assess, protect, enable and manage
business processes and information assets through our unique Lifecycle Security(TM)
approach.
AXENT's award winning security solutions include policy compliance and assessment,
firewall, intrusion detection, authentication, VPN, Web-access, single sign-on, and user
administration for the entire enterprise.
Headquartered in Rockville, MD, AXENT's customer-proven information security solutions
are used by Fortune 1000 companies and governments worldwide. Contact AXENT via e-mail at
info@axent.com, or visit AXENT's World Wide Web site at vpo.axent.com.
Statements in this release concerning AXENT's future prospects are "forward-looking
statements" within the meaning of provisions of the Federal securities laws and involve
risk and uncertainties. Those statements are subject to known and unknown risks and
uncertainties that could cause anticipated future results not to be achieved or actual
results to differ materially, including, but not limited to, (1) management's ability to
manage growth, accurately forecast revenues and control expenses, (2) the highly
competitive environment for AXENT's products and services and the consolidation of the
information security industry, (3) the possibility of rapid technological advances and
new product introductions in AXENT's market, (4) Year 2000 issues and the responses of
prospective customers, (5) AXENT's ability to manage recent and potential acquisitions
and (6) other factors identified under the caption "Certain Factors That May Affect
Future Performance" in the Company's Form 10-K for 1998 or discussed in the "Risk
Factors" section of the Company's Prospectus/Joint Proxy Statement dated January 2, 1998,
each as filed with the SEC. The Company assumes no obligation to update or correct
forward-looking statements due to events or changes after the date of this release.
AXENT, AXENT Technologies, the AXENT logo, and Lifecycle Security are trademarks or
registered trademarks, in the United States and certain other countries, of AXENT
Technologies, Inc. or its subsidiaries. Other product names and trademarks are the
property of their respective owners.
CONTACT: AXENT Technologies, Inc.
Robert B. Edwards, Jr., CFO
Tel: 301/670-3516
Fax: 301/670-3650
08:05 EDT APRIL 5, 1999 |
