ANGOSS Software Announces Strong Third Quarter Results.Business Editors TORONTO--(BUSINESS WIRE)--Sept. 25, 2000 Data Mining Industry Leader Records Best Third Quarter Since 1994; Broadens Relationship with Microsoft ANGOSS Software Corporation (CDNX CDNX See Canadian Venture Exchange (CDNX). :ANC ANC abbr. African National Congress ANC African National Congress: South African political movement instrumental in bringing an end to apartheid ANC n abbr (= .) (www.angoss.com), the industry leading developer of advanced data mining solutions that help business users make better business decisions every day, announced today its results for the quarter ended August 31, 2000. ANGOSS reported strong results, driven by record third quarter growth in its analytical tools, developer tools and intelligent applications business units. ANGOSS also achieved significant new partnering milestones, improving margins, positive operating cash flow Operating cash flow Earnings before depreciation minus taxes. Measures the cash generated from operations, not counting capital spending or working capital requirements. , and an eighth consecutive quarterly operating profit Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. . Operations Overview "Our confidence in our business strategy continues to build" commented ANGOSS President Eric Apps. "During a traditionally soft quarter for ANGOSS we achieved strong operating results and also advanced several important strategic business objectives, most notably by expanding our relationship with Microsoft. Our outlook for the fourth quarter is positive and our business plan for fiscal 2001 is aggressive. We continued to expand our sales, professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. and development teams in the third quarter and our expansion is enabling us to pursue a broader range of better qualified, higher value opportunities across our tools, components and solutions businesses. We expect these investments will further accelerate our growth." "Our revenue mix continues to evolve in the direction we are looking to go -- with absolute growth in our core analytical tools business and increasing contributions from our developer tools and intelligent applications businesses" commented Lon Vining Vining is the name of several places in the United States:
The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. , ANGOSS continues to invest heavily - but prudently -- in building out our organization. While reporting continued profitability and generating positive cash flow, we have expanded our headcount by over 100% over 1999, with expense growth primarily in sales and development areas and in selected marketing initiatives. We expect this to continue."
Operations
(unaudited) Three months ended Three months ended Change
August 31, 2000 August 31, 1999 (%)
-----------------------------------------------------------------------
Revenues $1,258,967 $864,218 45.7%
-----------------------------------------------------------------------
Gross Margin $1,232,399 $811,605 -
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Gross Margin 97.9% 94.0% -
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Operating
Expenses $1,167,441 $627,242 86.1%
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Operating
Income $64,958 $184,363 (64.8)%
-----------------------------------------------------------------------
Net Income
(Loss) $34,245 $52,635 (34.9)%
-----------------------------------------------------------------------
Earnings per Share -
Basic and fully diluted $0.00 $0.00 -
-----------------------------------------------------------------------
Cash provided
(used in)
operations $122,642 ($24,201) 606.8%
-----------------------------------------------------------------------
Net increase
(decrease) in
cash $172,811 ($63,460) 372.3%
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Operations
(unaudited) Nine months ended Nine months ended Change
August 31, 2000 August 31, 1999 (%)
-----------------------------------------------------------------------
Revenues $3,591,853 $2,275,257 57.9%
-----------------------------------------------------------------------
Gross Margin $3,512,459 $2,138,237 -
-----------------------------------------------------------------------
Gross Margin 97.8% 94.0% -
-----------------------------------------------------------------------
Operating
Expenses $3,010,521 $1,907,237 57.9%
-----------------------------------------------------------------------
Operating
Income $501,938 231,000 117.3%
-----------------------------------------------------------------------
Net Income
(Loss) $672,407 ($128,920) 621.6%
-----------------------------------------------------------------------
Earnings per Share -
Basic and fully diluted $0.02 ($0.00) -
-----------------------------------------------------------------------
Cash provided
(used in)
operations $453,723 ($410,185) 210.6%
-----------------------------------------------------------------------
Net increase
(decrease) in
cash $477,118 ($605,345) 178.8%
------------------------------------------------------------------------
Selected Balance Sheet Information
(unaudited)
As at August 31, As at August 31, As at August 31,
2000 1999 1998
------------------------------------------------------------------------
Cash $1,131,986 $772,560 $74,632
------------------------------------------------------------------------
Accounts Receivable $1,091,691 $671,193 $450,620
------------------------------------------------------------------------
Working Capital
(deficiency) $902,301 $114,437 ($1,833,681)
------------------------------------------------------------------------
Deferred Revenue $379,148 $235,393 $69,224
------------------------------------------------------------------------
Not included in results is unrecorded contract revenue of approximately $370,000 at August 31, 2000, much of which is expected to be earned in the fourth quarter. ANGOSS also reported that in addition to analytical tools opportunities being pursued, it is at various stages of discussion with existing customers and prospects for solution development proposals based on the ANGOSS data mining platform with an aggregate initial contract value of approximately $1,000,000. Some of these proposals are expected to be contracted during the fourth quarter. Additional solution development opportunities are also being pursued with customers and prospective partners, setting the stage for a number of opportunities and partnering initiatives later this year and into 2001. Analytical Tools Business Shows Strong Market Share Growth During the quarter, the ANGOSS data mining analytical tools business unit continued to realize growth rates Growth Rates The compounded annualized rate of growth of a company's revenues, earnings, dividends, or other figures. Notes: Remember, historically high growth rates don't always mean a high rate of growth looking into the future. well in excess of industry averages, with continued expansions of footprints at existing customer sites, and the successful penetration of several new customer accounts. SmartWare, which accounted for approximately 24% of revenues at August 31, 1999 has declined to approximately 7% of revenues at August 31, 2000. These trends are expected to continue. KnowledgeSTUDIO 3.0.1, with extensive additional features for advanced data mining support, was released to customers in the third quarter, and KnowledgeSEEKER 4.5, updated to support users of SAS (1) (SAS Institute Inc., Cary, NC, www.sas.com) A software company that specializes in data warehousing and decision support software based on the SAS System. Founded in 1976, SAS is one of the world's largest privately held software companies. See SAS System. 8, is expected to be released during the fourth quarter. Planned enhancements for the KnowledgeSTUDIO platform currently under development include further integration with SQL Server An earlier relational DBMS from Sybase and from Microsoft. Sybase introduced SQL Server in 1988 for various Unix versions. In that same year, with help from IBM, Sybase created an OS/2 version that Microsoft licensed and branded as Microsoft SQL Server. , the development of a port for KnowledgeSERVER to support HP-UX HP's version of Unix that runs on its 9000 family. It is based on SVID and incorporates features from BSD Unix along with several HP innovations. (operating system) HP-UX - The version of Unix running on Hewlett-Packard workstations. platforms, as well as currently supported Windows and Solaris platforms, the introduction of an in-place mining driver for the Oracle 8i database, and several "next generation" functionality enhancements for deploying data mining models into Microsoft, IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) and SAS environments. KnowledgeExcelerator and KnowledgeAccess, data mining add-ins developed by ANGOSS for Excel and Access, Microsoft's popular spreadsheet and databases applications, have begun making contributions to revenues. These products are being well received and are expected to form a more important part of the company's overall strategy for its analytical tools business in 2001. Selected marketing initiatives concerning the add-ins are planned for the next two quarters. Data Mining SDK (Software Developer's Kit) See developer's toolkit and Windows SDK. SDK - Software Developers Kit (or "Software Development Kit"). for SQL Server 2000 Broadens Developer Tools Business The agreement of ANGOSS to develop a Data Mining SDK for SQL Server 2000 for distribution by Microsoft Corporation (company) Microsoft Corporation - The biggest supplier of operating systems and other software for IBM PC compatibles. Software products include MS-DOS, Microsoft Windows, Windows NT, Microsoft Access, LAN Manager, MS Client, SQL Server, Open Data Base Connectivity (ODBC), MS Mail, highlights several important partnering and solution development initiatives currently under way at ANGOSS with respect to its developer tools and data mining components business. "We share Microsoft's vision that data mining is ready for the mainstream enterprise applications market and that application developers need functionally rich, standards based developer tools and components to leverage this technology" commented ANGOSS Vice President Technology Ken Ono Ken Ono is an American mathematician who specializes in number theory, especially in integer partitions, modular forms, and the fields of interest to Srinivasa Ramanujan. He is currently the Manasse Professor of Letters and Science at the University of Wisconsin-Madison. . "SQL Server 2000 and our Data Mining SDK will provide a strong introductory entry point for these developers. We see significant potential looking out over the next 24 months to offer upgrades to our platform for software developers and enterprise application vendors using the Data Mining SDK for SQL Server. We also see several new business opportunities for ANGOSS resulting from our work with Microsoft to assist organizations leveraging Microsoft's applications, technologies and standards to design, develop and deploy more intelligent enterprise solutions based on the Microsoft platform and our complementary data mining solutions". The development of the Data Mining SDK is proceeding on time and in accordance Accordance is Bible Study Software for Macintosh developed by OakTree Software, Inc.[] As well as a standalone program, it is the base software packaged by Zondervan in their Bible Study suites for Macintosh. with project milestones. Further announcements are planned. Intelligent Enterprise Solutions Significant progress was also made by ANGOSS during the third quarter on both the KnowledgeSTUDIO for Siebel and KnowledgeWebMiner initiatives. KnowledgeSTUDIO for Siebel offers users of the Siebel eBusiness application suite a tightly integrated, powerful and flexible analytic business solution to support a broad range of data mining analysis, predictive modelling Predictive modelling is the process by which a model is created or chosen to try to best predict the probability of an outcome. In many cases the model is chosen on the basis of detection theory to try to guess the probability of a signal given a set amount of input data, for , and model deployment options to enable more intelligent customer relationship management. KnowledgeSTUDIO for Siebel enables organizations selecting the Siebel eBusiness CRM (Customer Relationship Management) An integrated information system that is used to plan, schedule and control the presales and postsales activities in an organization. platform to improve business decision making across all facets of their operations and accelerate the payback Payback The length of time it takes to recover the initial cost of a project, without regard to the time value of money. of their Siebel technology investments. Implemented in a web-ready architecture using KnowledgeSERVER, ANGOSS's cross- platform data mining application server, the KnowledgeSTUDIO for Siebel solution framework has also been designed to provide support for customers' internally developed customer relationship systems, as well as other third party provided enterprise level relationship management solutions where advanced analytic capabilities are desired. KnowledgeWebMiner offers powerful analytic capabilities to e-business marketing professionals interested in better understanding the key factors driving the success and failure of their online community initiatives. It enables users to capture, extract and transform web data, easily join this data with other operational data sources, apply powerful analytical tools for customer segmentation, profiling and other critical analysis, reporting and modelling tasks. It also supports a range of easy to use and flexible predictive model deployment options for organizations wishing to embed em·bed also im·bed v. em·bed·ded, em·bed·ding, em·beds v.tr. 1. To fix firmly in a surrounding mass: embed a post in concrete; fossils embedded in shale. better intelligence into their web environments. ANGOSS has begun demonstrating KnowledgeSTUDIO for Siebel and KnowledgeWebMiner to selected North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. customers, targeting the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , telecom, pharmaceutical and technology sectors. Follow-on presentations have been scheduled with selected customers for the fourth quarter of 2000. Successful implementations with a focussed group of early adopting customers are expected to provide strong reference sites for the broader availability of these solutions during 2001. Customers and Industry Highlights Third quarter revenues were derived from licensing, license renewal, development services and consulting services Noun 1. consulting service - service provided by a professional advisor (e.g., a lawyer or doctor or CPA etc.) service - work done by one person or group that benefits another; "budget separately for goods and services" for several current and new ANGOSS customers and technology partners, including Allied Insurance, Allstate Insurance, American Horizon, Arthur Andersen For the U.S. Supreme Court case commonly known as Arthur Andersen, see . Arthur Andersen LLP, based in Chicago, was once one of the "Big Five" accounting firms (the other four are PricewaterhouseCoopers, Deloitte Touche Tohmatsu, Ernst & Young and KPMG), performing , Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. , Bell Canada Bell Canada Enterprises (TSX: BCE, NYSE: BCE), legally BCE Inc., is a major Canadian telecommunications company. Through its subsidiaries including Bell Canada, Bell Aliant, Northwestel, Télébec, and NorthernTel, it is the incumbent local exchange carrier for , CAA Caa See CCC. Insurance, CIBC CIBC Canadian Imperial Bank of Commerce CIBC Centres Interinstitutionnels de Bilan de Compétences CIBC Commonwealth Institute of Biological Control (Trinidad) CIBC Commercial International Brokerage Company Insurance, Citibank, CyberSource, FIC FIC First International Computer FIC Fogarty International Center (John E. Fogarty International Center for Advanced Study in the Health Sciences; National Institutes of Health) FIC Fellowship for Intentional Community , Firemen's Fund, First USA, GE Capital, Glaxo Wellcome, Household International, Lab Safety Supply, M4 Financial, MBNA MBNA Monument Builders of North America MBNA Mercedes-Benz North America MBNA Maryland Bank, National Association MBNA Maryland Bank North America MBNA Mount Baker Nurses Association (Bellingham, Washington) , McKinsey & Co., MetLife, Metris, Microsoft, Neuristics, Pacific Bell, Paine Webber Paine Webber and Company was an American stock brokerage firm that was acquired by the Swiss bank UBS AG in 2000. The company was founded in 1880 in Boston, Massachusetts, by William Alfred Paine and Wallace G. Webber. , Palisade, Pfizer, Providian, Sears Roebuck, SNET n. 1. The fat of a deer. v. t. 1. The clear of mucus; to blow. , Sybase, Texaco, The Hartford, Truworths, Verizon Communications
Verizon Communications, Inc. , Wachovia, and WebMiner.com
Additional recent highlights included:
- The signing of a reseller agreement for the distribution of
KnowledgeExcelerator with Palisade Corporation (www.palisade.com) a
leading distributor of desk top analytical solutions.
- The inclusion of ANGOSS for the third consecutive year in DM
Review's "Top 100" vendors list for the business intelligence market
space.
- A recent citation in Business Intelligence Advisor, a leading
independent subscription based business intelligence publication
distributed by Cutter Consortium (www.cutter.com) to clients across
North America, as one of the leading data mining solutions platforms
on the market.
About ANGOSS Software ANGOSS Software Corporation, headquartered in Toronto, Canada, develops and delivers industry leading data mining solutions to customers and technology partners "at the intersection of the Warehouse and the Web." ANGOSS analytical tools help our users make better business decisions every day. ANGOSS developer tools and solutions help our customers and partners build the intelligent enterprise.
The ANGOSS KnowledgeSuite of advanced data mining solutions
includes:
- KnowledgeSEEKER(R) and KnowledgeSTUDIO(R), advanced analytical tools
used by leading Global 2000 companies in the financial services,
retail, telecom, pharma / healthcare and advanced manufacturing
sectors.
- KnowledgeExcelerator(R) and KnowledgeAccess(R), data mining add-ins
for Excel and Access, the popular spreadsheet and database
applications of Microsoft Corporation, designed for business
analysts.
- KnowledgeSERVER(R), a cross-platform, n-tiered, high scalable and
functionally rich data mining application server for developing and
deploying intelligent applications enterprise wide.
- KnowledgeSTUDIO for Siebel, a web-ready data mining plug-in for
users of the Siebel Systems eBusiness application suite, offering a
powerful and dynamic data mining analytics and model deployment
framework for users of Siebel eBusiness application suites.
- KnowledgeWebMiner(TM), a data mining solution for e-business
marketing professionals.
- The Data Mining SDK for SQL Server, a data mining software developer
kit for software developers and enterprise application vendors
developing applications integrated with SQL Server, Microsoft
Corporation's market leading enterprise intelligence platform.
- The KnowledgeSTUDIO SDK, a cross-platform, feature rich software
development kit leveraging Microsoft developer tools, standards and
technologies and offering integrated with all major databases for
building intelligent enterprise applications.
VisibleWeb(TM), an advanced data mining and data visualization See information visualization. solution for e-business, is currently planned for release in 2001. VisibleWarehouse(TM), an advanced data mining and data visualization solution for data warehousing See data warehouse. data warehousing - data warehouse systems, is currently planned for release in 2001. Note to editors: If you are interested in viewing additional information on ANGOSS, please go to www.angoss.com. Trademarks and registered trademarks referred to above are the property of their respective owners. This press release may contain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the future performance of ANGOSS Software Corporation. Forward-looking statements, specifically those concerning future performance and the achievement of operating profitability are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties include the risk of possible customer disappointment or dissatisfaction with ANGOSS Software products, and any resulting failure to expand the user base as anticipated by the Company; operational and financial risks associated with growth; market acceptance of the Company's products and services; technical uncertainties related to releases of new or modified products and adapting products to specific customer requirements; risks involving management of growth; competition and the introduction of new entrants and/or new products in the Company's markets; product development risks and risks of technological change; the risk of unanticipated expenses or asset reevaluations; and other risks and uncertainties all as described in the disclosure documents filed with securities regulatory authorities Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest regulatory agency administrative body, administrative unit - a unit with administrative responsibilities in accordance with applicable securities laws. Note: The Canadian Venture Exchange The Canadian Venture Exchange (CDNX) is now a defunct stock exchange having been acquired by the TSX Group in 2001 and renamed the TSX Venture Exchange. History of the Canadian Venture Exchange (CDNX) has neither approved nor disapproved the above information. |
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