Altris Software Inc. Announces Third Quarter Results.SAN DIEGO--(BUSINESS WIRE)--Oct. 29, 1996--Altris Software Inc. (NASDAQ NASDAQ in 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 : 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 announced revenue and net income for the third quarter ended Sept. 30, 1996. Revenue in the third quarter was $5,806,000 versus $3,127,000 in the same period last year. Net income in the third quarter increased 115% to $492,000, or $0.05 per share, compared to $229,000, or $0.03 per share, in the comparable quarter last year. Average weighted shares outstanding of 9,651,000 in the 1996 third quarter and 7,497,000 in the 1995 third quarter reflect the effect of a 1-for-2 reverse stock split effective yesterday. On Oct. 24, 1996, Altris shareholders approved the reverse stock split and a change in the corporate name from "Alpharel, Inc." For the nine months ended Sept. 30, 1996, revenue increased to $17,973,000 from $9,628,000 in the same period a year ago. Net income for the nine month period was $2,044,000, or $0.22 per share, which represented a 132% increase over net income of $881,000, or $0.12 per share, in the year-ago period. "I believe our third quarter results stand as a strong continuation of our growth, and an excellent beginning for the Company as we begin operating under our new name," commented Jay Tanna Tanna can refer to:
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 and corporate intranets. "Our recently announced $1.6 million contract with a leading manufacturing company gives us momentum as we head into the fourth quarter. Additionally, a recent Gartner Group (company) Gartner Group - One of the biggest IT industry research firms. Address: Connecticut, USA. report named Altris Software as a leader, along with Documentum Documentum is an enterprise content management platform, now delivered by EMC Corporation, as well as the name of the software company that originally developed the technology. EMC acquired Documentum for $1.7 billion in December, 2003. , NovaSoft and OpenText, in the application-specific integrated document management software market." John W. Low, Chief Financial Officer, noted, "While we increased our year-to-year overall revenue growth to 86% in the third quarter from 82% in the second quarter, we were especially pleased to grow software licenses In computing, software that is copyrighted and licensed under a software license is done under a variety of licensing schemes. For end-users there are proprietary licenses and there are free software licenses, and there are proprietary Within these schemes are further classifications. 106% in the third quarter, demonstrating that Altris is becoming primarily a software provider. "Following our acquisition of Trimco, we focused on increasing the percentage of license revenues, which stands at 60% of total revenues through nine months, up from 37% in the same period last year. Despite the seasonality we experienced in Europe Europe (y  r`əp), 6th largest continent, c.4,000,000 sq mi (10,360,000 sq km) including adjacent islands (1992 est. pop. 512,000,000). in the quarter,
business opportunities in both international and domestic markets are
expanding and we are hopeful for continued positive improvements in
upcoming quarters."Altris Software Inc. is a leader in delivering enterprise-wide integrated information management systems to tens of thousands of users around the world. These systems are installed in manufacturing, utilities, petrochemical petrochemical, any one of a large group of chemicals derived from a component of petroleum or natural gas. The cracking processes for manufacturing gasoline produce vast quantities of gaseous hydrocarbons. , government, banking, transportation and other industries. Documents of all sizes, from letter-size pages to large-scale large-scale adj. 1. Large in scope or extent. 2. Drawn or made large to show detail. large-scale Adjective 1. wide-ranging or extensive 2. engineering drawings, are handled rapidly over global networks in a very cost-effective cost-effective, n the minimal expenditure of dollars, time, and other elements necessary to achieve the health care result deemed necessary and appropriate. manner. Altris Software Inc. products and customers have won numerous industry awards over the few past years. -0-
ALTRIS SOFTWARE, INC.
CONSOLIDATED STATEMENT OF OPERATIONS
(Unaudited)
(in thousands except per share data)
For The Three Months For The Nine Months
Ended Sept. 30, Ended Sept. 30,
1996 1995 1996 1995
Revenues $5,806 $3,127 $17,973 $9,629
Cost of revenues 2,395 1,276 7,041 4,390
Gross profit 3,411 1,851 10,937 5,239
Operating expenses:
Research and development 791 326 2,547 886
Marketing and sales 1,357 942 4,004 2,413
General and
administrative 758 357 2,323 1,078
Total operating expenses 2,906 1,625 8,874 4,377
Income from operations 505 226 2,058 862
Interest and other income 18 31 64 101
Interest and other expense (31) (28) (78) (82)
Income before taxes 492 229 2,044 881
Provision for taxes -- -- -- --
Net income $ 492 $ 229 $2,044 $ 881
Net income per share $0.05 $0.03 $0.22 $0.12
Weighted average shares
outstanding 9,651 7,497 9,414 7,182
ALTRIS SOFTWARE, INC.
CONSOLIDATED BALANCE SHEET
(in thousands)
ASSETS
Sept. 30, 1996 Dec. 31, 1995
(Unaudited)
Current assets:
Cash and cash equivalents $ 1,423 $ 4,656
Short term investments 90 270
Receivables, net 8,430 4,207
Inventory, net 478 469
Other current assets 884 803
Total current assets 11,305 10,405
Long-term assets 9,292 8,597
Total assets $20,597 $19,002
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities $ 5,332 $ 9,466
Long term liabilities 1,241 1,420
Shareholders' equity 14,024 8,116
Total liabilities and
shareholders' equity $20,597 $19,002
CONTACT: Altris Software Inc. John Low, 619/625-3000 or Morgen-Walke Associates Chris CHRIS Chemical Hazards Response Information System (US DoD) CHRIS California Historical Resources Information System CHRIS Computerized Human Resources Information System CHRIS Command Human Resources Intelligence System Danne, Todd Todd , Sir Alexander Robertus 1907-1997. British chemist. He won a 1957 Nobel Prize for his study of nucleic acids and nucleotide structures. Friedman Fried·man , Milton Born 1912. American economist. He won a 1976 Nobel Prize for his theories of monetary control and governmental nonintervention in the economy. Noun 1. , Doug DOUG Dumb Old Utility Guy Sherk, 415/296-7383 Emily Dupree, 212/850-5600 Andrew Cella, 212/850-5698 |
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