Altris Software Announces Second Quarter 2000 Results; Strengthened Balance Sheet Provides Opportunities for Growth.Business Editors/High-Tech Writers 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. , Calif.--(BUSINESS WIRE)--Aug. 14, 2000 Altris Software, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :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, 2000. Total revenues for the three months ended June 30, 2000 were $1.7 million compared to $1.5 million for the same period of 1999. The net loss for the three months ended June 30, 2000 amounted to $340,000 or ($0.01) per share compared to a net loss of $1.1 million or ($0.11) per share for the same period of 1999. In the second quarter of 2000, Altris issued 5,285,714 common shares to Spescom Ltd. common stock $3.7 million in cash. As part of the transaction, all of the subordinated debt Subordinated Debt A loan (or security) that ranks below other loans (or securities) with regard to claims on assets or earnings. Also known as "junior security" or "subordinated loan". and preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. of the Company was converted into 9,528,096 shares of common stock. In addition, the Company acquired all the rights to Spescom's EMS Ems, town, Germany Ems or Bad Ems (bät ĕms), town (1994 pop. 10,130), Rhineland-Palatinate, W Germany, on the Lahn River. 2000 software, a configuration management product. Total revenues for the six-months ended June 30, 2000 were $3.4 million compared to $3.9 million for the six-months ended June 30, 1999. The net loss totaled $905,000 or ($0.05) per share compared to a loss of $3.5 million or ($0.32) per share for the same period of 1999. Roger Erickson Erickson can refer to several persons:
Recorded in asset accounts and then depreciated or amortized, as is appropriate for expenditures for items with useful lives longer than one year. software, which totaled $290,000, the Company was essentially breakeven breakeven 1. The level of output or sales necessary to cover fixed expenses. Companies in industries that have high fixed costs and, consequently, high breakevens, such as automobile and steel manufacturing, are likely to exhibit large fluctuations for the second quarter in 2000." Mr. Erickson added, "I believe that as a direct result of our stronger balance sheet and improved operating results, the Company was able to provide to the customer the confidence necessary to close the recently announced transactions with Microsoft (Microsoft Corporation, Redmond, WA, www.microsoft.com) The most successful and influential software company. Microsoft's software and Intel's hardware pioneered the PC and revolutionized the computer industry. and Abbey abbey, monastic house, especially among Benedictines and Cistercians, consisting of not less than 12 monks or nuns ruled by an abbot or abbess. Many abbeys were originally self-supporting. In the Benedictine expansion after the 8th cent. National Bank. In the past, although many prospective customers were attracted to Altris' technology, our financial position posed pose 1 v. posed, pos·ing, pos·es v.intr. 1. To assume or hold a particular position or posture, as in sitting for a portrait. 2. To affect a particular mental attitude. hurdles to overcome in the sales process A sales process is a systematic approach for performing product or service sales. The reasons for having a sales process include seller and buyer risk management, achieving standardized customer interaction in sales and scalable revenue generation. . We can now address these concerns more effectively and concentrate on providing the solution to our customers' business problems." 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 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. -tables follow-
ALTRIS SOFTWARE, 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,
2000 1999 2000 1999
---- ---- ---- ----
Revenues:
Licenses $ 440 $ 382 $ 680 $ 1,154
Services and other 1,246 1,140 2,673 2,753
-------- --------- --------- ---------
Total revenues 1,686 1,522 3,353 3,907
-------- --------- --------- ---------
Cost of revenues:
Licenses 273 285 550 590
Services and other 695 735 1,432 1,802
-------- --------- --------- ---------
Total cost of revenues 968 1,020 1,982 2,392
-------- --------- --------- ---------
Gross profit 718 502 1,371 1,515
------- -------- --------- ----------
Operating expenses:
Research and development 461 837 876 1,848
Marketing and sales 402 397 718 1,162
General and
administrative 160 443 501 1,890
-------- --------- --------- ---------
Total operating
expenses 1,023 1,677 2,095 4,900
-------- --------- --------- ---------
Loss from operations (305) (1,175) (724) (3,385)
Interest and other income 23 186 24 195
Interest and other expense (58) (149) (205) (312)
-------- --------- --------- ---------
Net loss $ (340) $ (1,138)$ (905) $ (3,502)
======== ========= ======= ==========
Basic net loss per
common share $ (.01) $ (.11)$ (.05) $ (.32)
========= ========= ========= =========
Diluted net loss per
common share $ (.01) $ (.11)$ (.05) $ (.32)
========= ========= ========= =========
Shares used in computing
basic and diluted net loss
per common share 24,812 11,616 18,968 11,616
ALTRIS SOFTWARE, INC.
CONSOLIDATED BALANCE SHEET
ASSETS
(In thousands)
June 30, 2000 December 31, 1999
------------- -----------------
(unaudited)
Current assets:
Cash and cash equivalents $ 2,023 $ 142
Receivables, net 490 355
Other current assets 94 92
-------------- -----------------
Total current assets 2,607 589
Long-term assets 3,836 4,392
-------------- ---------------
Total assets $ 6,443 $ 4,981
============== ===============
LIABILITIES AND SHAREHOLDERS'
EQUITY (DEFICIT)
Current liabilities:
Accounts payable $ 1,237 $ 1,507
Accrued liabilities 1,413 1,512
Notes payable - 574
Deferred revenue 2,309 2,289
-------------- ---------------
Total current liabilities 4,959 8,688
Deferred revenue, long term portion 1,262 1,542
Other long-term liabilities - 1,223
Subordinated debt, net of discount - 2,708
-------------- ---------------
Total liabilities 6,221 11,355
Mandatorily redeemable
convertible preferred stock - 3,423
Shareholders' equity (deficit) 222 (9,797)
-------------- ---------------
Total liabilities and
shareholders' equity (deficit) $ 6,443 $ 4,981
============== ===============
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