Alpharel announces 323 percent increase in second-quarter net; second record-setting quarter in a row.SAN DIEGO--(BUSINESS WIRE)--July 26, 1995--Alpharel Inc. (NASDAQ/NMS:AREL AREL Acute Reference Exposure Level (EPA) ) Wednesday Wednesday: see week. announced that for the second quarter in a row, the company has seen record-setting revenue and profit performance with second-quarter 1995 net income of $427,000, or 3 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , on revenue of $3,351,000. For the same period in 1994, net income was $101,000, or 1 cent per share, on revenue of $2,315,000. For the six months ended June 30, 1995, the company reported revenue of $6,502,000 and net income of $652,000, or 5 cents per share, compared with revenue of $4,926,000 and net income of $318,000, or 2 cents per share, for the same period in 1994. "Revenue increased 45 percent, while net income increased 323 percent from the comparable quarter last year, achieving the company's highest net income ever in one quarter," said Stephen P. Gardner, the company's president and chief executive officer. "This year's results to date and our excellent prospects for the third and fourth quarters of 1995 confirm that our focused strategy and renewed emphasis on sales of image-enabled solutions through direct and worldwide channels is paying off. With industry experts such as the Gartner Group (company) Gartner Group - One of the biggest IT industry research firms. Address: Connecticut, USA. projecting growth of up to 60 percent in our market through the end of the decade, we believe we are well positioned to benefit from market expansion." John Low, chief financial officer, added: "Revenue for the second quarter 1995 had a greater content of software sales resulting in an increased gross profit margin Gross profit margin Gross profit divided by sales, which is equal to each sales dollar left over after paying for the cost of goods sold. gross profit margin A measure calculated by dividing gross profit by net sales. to 58 percent, compared to 54 percent for the same period last year. Our gross profit margin improved significantly to 58 percent in the second quarter of 1995 from 46 percent in the first quarter of 1995. We believe we will see a continued high content of software in our mix for the rest of the year." Alpharel's significant base of customers around the world grew in the second quarter with the addition of several new accounts. The company began work on installation of a new student and personnel records document management system for the Poudre School District The Poudre School District (R-1) is K-12 public school district in Larimer County in northern Colorado. The district operates and manages the public schools in the city of Fort Collins, as well as in the tows of Wellington and Timnath, and unincorporated communities of of Fort Collins, Colo. Also, the company was selected by Radius radius, in anatomy: see arm. (Remote Authentication Dial-In User Service) The de facto standard protocol for authentication servers (AAA servers). to integrate the imaging capability with a Product Data Management system. Other major second-quarter wins include Woodward Governor, one of the nation's largest manufacturers of aircraft and automotive parts. In total, more than 10 major organizations joined the Alpharel client base in the second quarter. Technical milestones include the successful rollout of greatly enhanced View, Markup (text) markup - In computerised document preparation, a method of adding information to the text indicating the logical components of a document, or instructions for layout of the text on the page or other information which can be interpreted by some automatic system. and Edit workbench tools. More than 30 new features have been incorporated into the new release. Additionally, the company broadened its support of relational database relational database Database in which all data are represented in tabular form. The description of a particular entity is provided by the set of its attribute values, stored as one row or record of the table, called a tuple. products by adding support of Sybase Release 10 across all three of its system solutions. With headquarters in San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , Alpharel is the primary supplier of open imaging software for enterprise-wide solutions. The company excels in meeting the challenges of complex environments -- managing access to high volumes of engineering and office documents by many users spread across diverse locations. Alpharel's client/server software components are available on a variety of platforms including 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). (Sun, HP, SGI (SGI, Sunnyvale, CA, www.sgi.com) A manufacturer of workstations and servers, founded in 1982 by Jim Clark. The company was founded as Silicon Graphics, Inc., but changed to its acronym in 1999. , DG and 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) ), DEC VAX (Virtual Address eXtension) A venerable family of 32-bit computers from HP (via Digital and Compaq) introduced in 1977 with the VAX-11/780. VAX models ranged from desktop units to mainframes all running the same VMS operating system, and VAXes could emulate PDP models , Macintosh and PC, and operate efficiently across both local and wide area networks. Client operating environments In computing, an operating environment is the environment in which users run programs, whether in a command line interface, such as in MS-DOS or the Unix shell, or in a graphical user interface, such as in the Macintosh operating system. include X Window, OSF/Motif, Microsoft Windows See Windows. (operating system) Microsoft Windows - Microsoft's proprietary window system and user interface software released in 1985 to run on top of MS-DOS. Widely criticised for being too slow (hence "Windoze", "Microsloth Windows") on the machines available then. and Apple System 7. Alpharel's software products easily integrate with customers' existing applications, providing departmental or corporate-wide document management. -0-
ALPHAREL INC.
CONSOLIDATED BALANCE SHEET
(in thousands)
ASSETS
June 30, 1995 Dec. 31, 1994
(unaudited)
Current assets:
Cash and cash equivalents $ 2,152 $ 1,036
Short-term investments 450 1,585
Short-term investments, restricted 225 219
Receivables 3,037 2,973
Inventory 475 726
Other current assets 537 373
Total current assets 6,876 6,912
Long-term assets 3,249 2,859
Total assets $10,125 $ 9,771
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities $ 3,776 $ 4,113
Shareholders' equity 6,349 5,658
Total liabilities and
shareholders' equity $10,125 $ 9,771
-0-
ALPHAREL INC.
CONSOLIDATED STATEMENT OF OPERATIONS
(Unaudited)
(In thousands except per-share data)
For the three months For the six months
ended June 30, ended June 30,
1995 1994 1995 1994
Revenues $3,351 $2,315 $6,502 $4,926 Cost of revenues 1,422 1,072 3,114 2,374 Gross profit 1,929 1,243 3,388 2,552 Operating expenses: Research and development 335 215 560 432 Marketing and sales 778 685 1,471 1,307 General and administrative 399 262 721 529 Total operating expenses 1,512 1,162 2,752 2,268 Income from operations 417 81 636 284 Interest and other income 36 50 70 95 Interest and other expense (26) (30) (54) (61) Income before taxes 427 101 652 318 Provision for taxes -- -- -- -- Net income $ 427 $ 101 $ 652 318 Net income per share 3 cents 1 cent 5 cents 2 cents Weighted avg. shares outstanding 14,068 14,073 14,066 14,065 CONTACT: Alpharel Inc., San Diego Stephen P. Gardner/John W. Low, 619/625-3000 |
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