AXENT Technologies Inc. announces record third-quarter earnings on a 78% increase in quarterly revenues.ROCKVILLE Rockville, city (1990 pop. 44,835), seat of Montgomery co., W central Md., a NW suburb of Washington, D.C.; settled c.1760s, inc. as a city 1860. It has several scientific research and technology laboratories that focus on the aerospace, electronics, nuclear energy, , Md.--(BUSINESS WIRE)--Oct. 21, 1996--AXENT(TM) Technologies Inc. (NASDAQ NASDAQin full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : AXNT), Monday Monday: see week. reported revenues for the three months ended Sept. 30, 1996, of $4,952,000, an increase of 78% over revenues of $2,787,000 for the same three-month period of 1995. Revenues for the nine months ended Sept. 30, 1996, were $14,359,000, an increase of 59% over revenues of $9,030,000 for the same nine-month period of 1995. Income from continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the increased to $500,000 or $.05 per share for the three months ended Sept. 30, 1996, compared to a loss from continuing operations of ($1,044,000) or ($.12) per share for the same period of 1995. For the nine months ended Sept. 30, 1996, income from continuing operations increased to $1,727,000 or $.17 per share, compared to a loss from continuing operations of ($3,044,000) or ($.33) per share for the same period of 1995. Income from discontinued operations Discontinued operations Divisions of a business that have been sold or written off and that no longer are maintained by the business. was $591,000 or $.05 per share for the three months ended Sept. 30, 1996, compared to $1,338,000 or $.15 per share for the same period of 1995. For the nine months ended Sept. 30, 1996, income from discontinued operations was $2,144,000 or $.21 per share, compared to income from discontinued operations of $3,970,000 or $.43 per share for the same period of 1995. Net income for the three months ended Sept. 30, 1996, increased 271% to $1,091,000 or $.10 per share, compared to net income of $294,000 or $.03 per share for the third quarter of 1995. Net income for the nine months ended Sept. 30, 1996, increased 318% to $3,871,000 or $.38 per share, compared to net income of $926,000 or $.10 per share for the same period of 1995. Richard Ri·chard , Joseph Henri Maurice Known as "Rocket." 1921-2000. Canadian hockey player. A right wing for the Montreal Canadiens (1942-1960), he led his team to eight Stanley Cup championships and was the first player to score 50 goals in a A. Lefebvre Lefebvre is a common French surname. It is also spelled Lefèvre, LeFebvre, LeFèvre, and is used in the related forms Lefeuvre, Favre, Faure, Favret, Favrette or Dufaure. , president and chief executive officer of AXENT, said, "As the information security market continues to grow, AXENT concentrates on building alliances with distributors and partners. We have greatly expanded AXENT's market reach and customer support worldwide, and will continue to focus on our partner channels in the upcoming quarters." Highlights of the quarter include: -- Mobil Corp. selects AXENT to provide Security Management Solution. -- Tivoli Tivoli (tē`vōlē), Lat. Tibur, city (1991 pop. 52,372), in Latium, central Italy, on the Aniene River. An important tourist center, the city is beautifully situated on a terrace dominating nearby Rome and the plain to the sea. Systems announces availability of a Tivoli/Plus Module for AXENT to deliver ready-to-use integration of TME See Tivoli Systems Management Software. 10. -- Interwork Software, Canadian-based distributor of Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the protocol, announces Strategic Partnership with AXENT. -- Rapid Systems partners with AXENT to provide OmniGuard(TM) security solutions to the health care industry. -- AXENT forms two new strategic business units: Security Management and Resource Management. The new organization provides dedicated teaming of product management with development to focus on customer needs and quickly respond to a dynamic marketplace. -- AXENT ships new release of OmniGuard/Enterprise Security Manager(R) for Windows NT (Windows New Technology) A 32-bit operating system from Microsoft for Intel x86 CPUs. NT is the core technology in Windows 2000 and Windows XP (see Windows). Available in separate client and server versions, it includes built-in networking and preemptive multitasking. to customers. AXENT Technologies is the leading provider of enterprise-wide information security solutions for client/server An architecture in which the user's PC (the client) is the requesting machine and the server is the supplying machine, both of which are connected via a local area network (LAN) or wide area network (WAN). computing computing - computer environments. The OmniGuard suite of products enables organizations to centrally manage information security. In addition, OmniGuard provides enhanced data confidentiality, access control, user administration and intrusion detection See IDS and IPS. for UNIX UNIX Operating system for digital computers, developed by Ken Thompson of Bell Laboratories in 1969. It was initially designed for a single user (the name was a pun on the earlier operating system Multics). , Windows NT, Windows 95, NetWare A family of network operating systems from Novell that support Windows, Macintosh, DOS and OS/2 clients. Unix client support is available from third parties. In the early 1990s, NetWare was the largest installed base of LAN operating systems (see Novell). and mid-range
Headquartered in Rockville, AXENT's broad line of security offerings is used by Fortune 1000 and governments worldwide to effectively secure and protect information systems in heterogeneous Not the same. Contrast with homogeneous. heterogeneous - Composed of unrelated parts, different in kind. Often used in the context of distributed systems that may be running different operating systems or network protocols (a heterogeneous network). computing environments. Contact AXENT via Email at info@axent.com, or visit AXENT's World Wide Web site at http://www.axent.com. Statements in this release concerning the company's future prospects are "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. " under the Federal securities laws. There can be no assurance that future results will be achieved and actual results could differ materially from forecasts and estimates. Important factors that could cause actual results to differ materially are included but are not limited to those listed in the company's registration statement on Form S-1 filed Feb. 14, 1996, as amended a·mend v. a·mend·ed, a·mend·ing, a·mends v.tr. 1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive. 2. , and on the company's quarterly reports as filed on Form 10-Q Form 10-Q See 10-Q. . -0- All trademarks, service marks and company names are the property of their respective owners. -0-
AXENT TECHNOLOGIES INC.
OPERATING RESULTS
(amounts in thousands, except per share data)
(unaudited)
For the Three Months For the Nine Months
Ended Sept. 30, Ended Sept. 30,
1996 1995 1996 1995
------ ------ ------ ------
Net Revenues:
Product licenses $ 3,124 $ 1,547 $ 9,727 $ 5,785
Maintenance and
support services 957 827 2,673 2,486
Consulting services 871 413 1,959 759
------- ------- ------- -------
Total net revenues 4,952 2,787 14,359 9,030
------- ------- ------- -------
Cost of net revenues 456 421 1,319 1,298
------- ------- ------- -------
Gross profit 4,496 2,366 13,040 7,732
Operating expenses:
Sales and marketing 2,891 2,689 8,672 8,491
Research and
development 1,253 951 3,510 2,928
General and
administrative 620 566 1,772 1,676
------- ------- ------- -------
Total operating
expenses 4,764 4,206 13,954 13,095
------- ------- ------- -------
Income (loss) from
continuing operations
before royalties,
interest and taxes (268) (1,840) (914) (5,363)
------- ------- ------- -------
Royalty income 794 -- 2,398 --
Interest income (expense) 339 (34) 668 (103)
Income tax (provision)
benefit (365) 830 (425) 2,422
------- ------- ------- -------
Income (loss) from
continuing operations 500 (1,044) 1,727 (3,044)
Income from discontinued
operations 591 1,338 2,144 3,970
------- ------- ------- -------
Net income $ 1,091 $ 294 $ 3,871 $ 926
======= ======= ======= =======
Net income (loss) per
common share:
Continuing
operations $ 0.05 $ (0.12) $ 0.17 $ (0.33)
Discontinued
operations 0.05 0.15 0.21 0.43
------- ------- ------- -------
Net income per common
share $ 0.10 $ 0.03 $ 0.38 $ 0.10
Weighted average number
of common shares 10,886 9,126 10,302 9,126
-0-
AXENT TECHNOLOGIES INC.
SUMMARY BALANCE SHEET
(amounts in thousands)
Sept. 30,
1996 Dec. 31,
(unaudited) 1995
----------- ------------
ASSETS
Current assets:
Cash and cash equivalents $15,660 $ 6,083
Short-term investments 17,316 --
Accounts receivable, net 4,337 5,071
Prepaid expenses and other
current assets 882 338
--------- ---------
Total current assets 38,195 11,492
Property and equipment, net 1,430 1,097
Other assets 14 57
--------- ---------
Total assets $39,639 $12,646
========= =========
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable and accrued
liabilities $ 3,906 $ 5,035
Note payable 826 900
Deferred revenue 2,357 2,290
Net identifiable liabilities
from discontinued operations 458 1,319
--------- ---------
Total current liabilities 7,547 9,544
Long-term deferred revenue, net of
current portion 69 126
Total liabilities 7,616 9,670
Total stockholders' equity 32,023 2,976
Total liabilities and
stockholders' equity $39,639 $12,646
========= =========
CONTACT: AXENT Technologies Inc., Rockville John Becker Beck´er n. 1. (Zool.) A European fish (Pagellus centrodontus); the sea bream or braise. , EVP/CFO, 301/670-3504; fax: 301/670-3584 |
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