Applix Announces Preliminary Third Quarter 2002 Results.Business Editors WESTBOROUGH, Mass.--(BUSINESS WIRE)--Oct. 11, 2002 Applix, 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 : APLX), a global provider of enterprise-wide interactive planning, analytics and CRM (Customer Relationship Management) An integrated information system that is used to plan, schedule and control the presales and postsales activities in an organization. solutions, today announced its preliminary results for the third quarter ended September 30, 2002. The Company expects that revenues for the third quarter ended September 30, 2002 will be in the range of $7.8 million to $8.0 million with an estimated net loss of ($0.13) to ($0.16) per share on a GAAP GAAP See: Generally Accepted Accounting Principles GAAP See generally accepted accounting principles (GAAP). basis. In the third quarter, the Company initiated certain cost reductions that are expected to result in a restructuring charge restructuring charge The expense of reorganizing a company's operations. A restructuring charge is an infrequent expense that generally results from asset writedowns or facility closings. of up to $400,000, or $0.03 per share. Pro-forma net loss for the third quarter is expected to be in the range of ($0.07) to ($0.11). The pro-forma net loss excludes the restructuring charge and also excludes contingent payments and amortization of intangible assets related to the Company's 2001 acquisition of Dynamic Decisions (DD) in Australia. The DD related costs are expected to be approximately $616,000, and are being accounted for as an operating expense Operating Expense The essential things that a company must purchase in order to maintain business. Notes: For example, the payment of employees wages are an operating expense. Also known as OPEX. per GAAP. Alan Goldsworthy, President and Chief Executive Officer of Applix, said, "We were on track to achieve modest growth in a difficult market due to the tremendous gains in our analytics business, which grew more than 100% over the prior year and more than 7% over the prior quarter. This strength was not enough, however, to fully offset ongoing weakness in the CRM market, which continues to affect the overall industry. Compounding the market weakness was a greater than normal seasonal decline throughout Europe in the traditionally slower third quarter." Reflecting the strength in Applix's analytics business the Company signed a record 70 new customers, including Barclaycard Merchant Services Merchant services is the name given in the United States to a broad category of financial services intended for use by businesses. In its most specific use, it usually refers to the service that enables a business to accept a transaction payment by use of the customer's credit or , Best Manufacturing Group, Churchill Insurance Churchill Insurance launched in 1989 by Martin Long as one of the UK's first direct motor insurers. Today Churchill provides a range of insurance products from Car Insurance to Travel Insurance. Group Limited, John Fairfax John Fairfax (24 October 1804 – 16 June 1877) - journalist; is notable for the incorporation of the major newspapers of modern day Australia. Overview The son of William Fairfax and his wife, Elizabeth Jesson, was born in Warwick, England. Holdings, The Industrial and Commercial Bank of China Industrial and Commercial Bank of China (ICBC) (Simplified Chinese: 中国工商银行; Traditional Chinese: , the UK's TM Retail, and TruSecure. Applix continued to benefit from customers expanding implementations purchased in prior quarters. In the third quarter these customers included DaimlerChrysler, Mitsubishi Electric, Novartis, and VISA International, among others. Goldsworthy concluded, "Overall, we are cautiously optimistic about the fourth quarter given the growth trend we continue to experience in the analytics market and the initial successes we are seeing for our latest solution, Applix Integra. The strength in our analytics business combined with the cost actions we have taken will move us toward the goal of profitability." The Company will release actual third quarter results on October 21, 2002 at 5PM EST EST electroshock therapy. EST abbr. electroshock therapy . About Applix Applix (NASDAQ: APLX) is a global provider of enterprise-wide business performance management solutions. These solutions enable the continuous management and monitoring of performance across the financial, operational, customer and organizational functions within the enterprise. More than 2,600 customers worldwide, including more than half of the Fortune 500, use Applix's adaptable, scalable and real-time solutions to manage their business performance and respond to the marketplace in real time. These solutions are delivered by Applix and by a global network of partners. Headquartered in Westborough, MA, Applix maintains offices in seven countries in Europe, North America and the Pacific Rim. For more information about Applix, please visit www.applix.com. This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those indicated. Specifically, comments related to preliminary results, customer demand indications for Applix Integra, and expected fourth quarter results may be considered forward-looking and subject to a number of risks and uncertainties. Refer to the Company's quarterly report on Form 10-Q Form 10-Q See 10-Q. for the period ended June 30, 2002 under " Factors That May Affect Future Results" for a further discussion of these risks and uncertainties. Applix does not undertake - and specifically declines any obligation - to publicly release the result of any revision that may be made to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of anticipated or unanticipated events. (c)2002 Applix, Inc. All rights reserved. Applix and iEnterprise are registered trademarks of Applix, Inc., and iTM1, Applix Integra and Applix Interactive Planning are trademarks of Applix, Inc. All other trademarks and company names mentioned are the property of their respective owners. |
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