Altris Software Announces Second Quarter 1999 Results.SAN DIEGO--(BUSINESS WIRE)--Aug. 16, 1999-- Altris Software, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: ALTS ALTS Association for Local Telecommunications Services ALTS Aarhus Lawn Tennis Selskab (Denmark) ALTS Annotated Labeled Transition System ALTS Analogue Line Terminating Subsystem ALTS Automatic Laser Tracking System ) today reported results of operations for its second fiscal quarter ended June June: see month. 30, 1999. Total revenues for the quarter were $1.5 million compared to $3.5 million for the quarter June 30, 1998. The net loss for the quarter totaled $1.1 million or ($0.11) per share compared to a net loss of $1.7 million or ($0.19) per share for the same period of 1998. In the second quarter of 1999, Altris completed the sale of 60% of its United Kingdom subsidiary. As a result, beginning in the second quarter the revenues and expenses of the subsidiary are no longer consolidated con·sol·i·date v. con·sol·i·dat·ed, con·sol·i·dat·ing, con·sol·i·dates v.tr. 1. To unite into one system or whole; combine: into the operations results of Altris Software, Inc., but are accounted for under the equity method. Other income in the second quarter 1999 includes a gain of $182,000 from the sale of the 60% interest. Total revenues for the six-months ended June 30, 1999 were $3.9 million compared to $6.5 million for the six-months ended June 30, 1998. The net loss totaled $3.5 million or ($0.32) per share compared to a loss of $4.5 million or ($0.49) per share for the same period of 1998. Roger Erickson Erickson can refer to several persons:
Based in San Diego, California “San Diego” redirects here. For other uses, see San Diego (disambiguation). San Diego is a coastal Southern California city located in the southwestern corner of the continental United States. As of 2006, the city has a population of 1,256,951. , Altris Software, Inc. delivers enterprise-wide document management software to its customers around the world. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement Except for historical information contained herein, the matters set forth in this release include 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. that are dependent on certain risks and uncertainties, including such factors, among others, as market acceptance, market demand, pricing, changing regulatory reg·u·late tr.v. reg·u·lat·ed, reg·u·lat·ing, reg·u·lates 1. To control or direct according to rule, principle, or law. 2. environment, the effect of the Company's accounting policies, potential seasonality and other risk factors detailed in the Company's SEC filings. Note to editors: Altris EB is a registered trademark of Altris Software Inc. All other named products mentioned in this release may have been identified by trademarks or registered trademarks of their respective holders. -0-
ALTRIS SOFTWARE, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(In thousands except per share data)
For the three months For the six months
ended June 30, ended June 30,
1999 1998 1999 1998
Revenues:
Licenses $ 382 $ 1,169 $ 1,154 $ 2,060
Services and other 1,140 2,365 2,753 4,475
-------- -------- -------- --------
Total revenues 1,522 3,534 3,907 6,535
-------- -------- -------- --------
Cost of revenues:
Licenses $ 285 $ 295 $ 590 $ 589
Services and other 735 1,793 1,802 3,300
-------- -------- -------- --------
Total cost of revenues 1,020 2,088 2,392 3,889
-------- -------- -------- --------
Gross profit 502 1,446 1,515 2,646
-------- -------- -------- --------
Research and development 837 608 1,848 1,351
Marketing and sales 397 1,066 1,162 2,735
General and administrative 443 1,303 1,890 2,713
-------- -------- -------- --------
Total operating expenses 1,677 2,977 4,900 6,799
-------- -------- -------- --------
Loss from operations (1,175) (1,531) (3,385) (4,153)
Interest and other income 186 3 195 18
Interest and other expense (149) (169) (312) (332)
-------- -------- -------- --------
Net loss $ (1,138) $ (1,697) $ (3,502) $ (4,467)
======== ======== ======== ========
Basic net loss per
common share $ (.11) $ (.19) $ (.32) $ (.49)
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Diluted net loss per
common share $ (.11) $ (.19) $ (.32) $ (.49)
======== ======== ======== ========
Shares used in computing
basic and diluted net
loss per common share 11,616 9,615 11,616 9,615
ALTRIS SOFTWARE, INC.
CONSOLIDATED BALANCE SHEET
June 30, December 31,
1999 1998
(unaudited)
ASSETS
(In thousands)
Current assets:
Cash and cash equivalents $ 422 $ 530
Receivables, net 560 1,128
Inventory, net 153 277
Other current assets 160 244
-------- --------
Total current assets 1,295 2,179
Long-term assets 5,305 9,187
-------- --------
Total assets $ 6,600 $ 11,366
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LIABILITIES AND SHAREHOLDERS' DEFICIT
Current liabilities:
Accounts payable $ 1,541 $ 2,779
Accrued liabilities 1,520 1,934
Notes payable 417 745
Deferred revenue 2,452 3,230
-------- --------
Total current liabilities 5,930 8,688
-------- --------
Long term notes payable 219 468
Deferred revenue, long term portion 1,823 2,131
Other long-term liabilities 1,353 1,263
Subordinated debt, net of discount 2,649 2,591
-------- --------
Total liabilities 11,974 15,141
Mandatorily redeemable convertible
preferred stock 3,213 3,003
Shareholders' deficit (8,587) (6,778)
-------- --------
Total liabilities and shareholders' deficit $ 6,600 $ 11,366
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