Andyne Computing Ltd. reports fourth quarter and year-end 1994 results.KINGSTON, Ont.--(BUSINESS WIRE)--Nov. 28, 1994--Andyne Computing Ltd. (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 :ADYNF, TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :ADY), a newly public company that is pioneering access and management of information resources (1) The data and information assets of an organization, department or unit. See data administration. (2) Another name for the Information Systems (IS) or Information Technology (IT) department. See IT. in client/server computing environments, today reported that revenues for the fourth quarter ended Sept. 30, 1994, were $2,475,000 (CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. ), compared with revenues of $1,822,000 (CDN) in the previous year's fourth quarter. The company also reported net income of $321,000 (CDN), or $0.05 per share, compared with net income of $341,000 (CDN), or $0.05 per share, for the previous year's fourth quarter. Revenues for the fiscal year ended Sept. 30, 1994, were $9,441,000 (CDN), an increase of 80 percent compared with revenues of $5,232,000 (CDN) in fiscal 1993. Net income increased 23 percent to $1,416,000 (CDN), or $0.23 per fully diluted share, compared with net income of $1,147,000 (CDN), or $0.19 per fully diluted share, for 1993. "Andyne's strong sales growth in fiscal 1994 was the direct result of continuing and aggressive expansion of our sales and marketing efforts, including increased penetration of existing markets for our data-access applications software through direct sales and reseller channels, and sales into new geographic markets," said A. Cameron Thompson Cameron Paul Thompson (born 1 October 1960), Australian politician, has been a Liberal member of the Australian House of Representatives since October 1998, representing the Division of Blair, Queensland. , president and chief executive officer. "With the proceeds expected from our recent IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. , we will be well-positioned to seize the burgeoning opportunity ahead of us by continuing to expand marketing and sales activities, develop new products and identify potential acquisitions," Thompson said. Andyne Computing Ltd. is a leader in the development, marketing and support of software applications that provide an easy-to-use visual interface for information access and reporting. The company's two principal products, Andyne GQL (Graphical Query Language) The former name of a family of query and reporting tools used to access databases on client/server systems from Hummingbird Ltd., Toronto, Ontario (www.hummingbird.com). and Andyne PaBLO, exploit client/server computing technology to provide a managed query environment (MQE MQE Managed Query Environment (Knowledge Management) MQE Minimum Quench Energy MQE Mathematics Qualifying Exam ) for access by end-users of database information stored on server computers. Andyne's products are designed for use on major desktop operating systems (Microsoft Windows, Apple Macintosh and UNIX/Motif), relational databases (Oracle, Sybase 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) DB2) and associated networking middleware. The company's products are distributed worldwide through its direct sales force and select value-added resellers (VARs), OEMs and distributors. The company has licensed its software to more than 40,000 users at 2,500 large and medium-sized organizations in a wide variety of industries around the world. An initial public offering of 1,400,000 shares of Andyne common stock at $6 (U.S.) and $8.20 (CDN) began trading Nov. 23 on the NASDAQ National Market System under the symbol "ADYNF." The common stock also will be traded on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. (TSE) under the symbol "ADY." Closing on the TSE is expected to occur on Dec. 1, 1994. The offering was underwritten in the United States by Marleau, Lemire (U.S.A.) Inc. and in Canada by Marleau, Lemire Securities Inc. A copy of the prospectus may be obtained from:
Lorne Caplan Mitchell Greenspoon
Marleau, Lemire (USA) Inc. Marleau, Lemire Securities Inc.
40 Broad St., Suite 925 1 Place Ville-Marie, Suite 3601
Boston, Mass. 02109 Montreal, Quebec H3B 3P2
Ph: 617/357-9711 Ph: 514/877-3811
The condensed con·dense v. con·densed, con·dens·ing, con·dens·es v.tr. 1. To reduce the volume or compass of. 2. To make more concise; abridge or shorten. 3. Physics a. consolidated statement of income for the company follows:
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Andyne Computing Limited
(Amounts in thousands Can., except per-share data)
Three Months Ended Fiscal Year Ended
Sept. 30 Sept. 30 Sept. 30 Sept. 30
1994 1993 1994 1993
Revenues $2,475 $1,822 $9,441 $5,232
Net income 321 341 1,416 1,147
Net income per share 0.05 0.05 0.23 0.19
Weighted average number of
fully diluted shares used in
computation of per-share
net income N/A N/A 6,053 5,963
CONTACT: Andyne Computing
Campbell Patterson, 613/548-4355
or
Ronald Trahan Assoc.
Ronald C. Trahan, 508/651-1180
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