Applix Posts Third Quarter Results for 1997.WESTBORO Westboro can refer to: Places
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 APLX is a modern, second generation, cross-platform dialect of the APL programming language. APLX is targeted at applications such as financial planning, market research, statistics, management information, and various kinds of scientific and engineering work. ) today announced its results for the third quarter ended Sept. 30, 1997. Total revenues for the third quarter decreased 9 percent to $12,200,000 from $13,355,000 for the comparable period ended Sept. 30, 1996. Net income for the quarter was $156,000 or $.01 per share compared to net income of $2,244,000 or $.21 per share for the same period in 1996. For the nine months ended Sept. 30, 1997, total revenue was $35,001,000 as compared to 1996 at $36,258,000. Net loss for the nine months ended Sept. 30, 1997 was $1,044,000 or $0.10 per share compared to net income of $5,993,000 or $0.56 per share in 1996. "During the third quarter, we continued to execute our plan and saw significant improvements in our targeted markets," said Jit Saxena Saxena is a surname of Anglo-Saxon origin. It derives from the parishes of Saxby, in the counties of Lincolnshire and Leicestershire, England. The surname Saxena is an example of a habitation name, the broad category of surnames that were derived from place names. , chairman and chief executive officer. About Applix Applix Inc. is a software company based in Westborough, Massachusetts that publishes Applix TM1, a MOLAP database server, and related presentation tools, including Applix Web and Applix Executive Viewer. Inc. Applix Inc., headquartered in Westboro, Mass., is a leading provider of software for managing customer interaction, real-time 1. real-time - Describes an application which requires a program to respond to stimuli within some small upper limit of response time (typically milli- or microseconds). Process control at a chemical plant is the classic example. decision support and office productivity across globally networked, extended enterprise environments. The company provides cross-platform client/server, networkcentric, webtop and thin-client computing computing - computer solutions throughout its core offerings: Applix Enterprise, customer satisfaction software; Applix TM1, real-time multidimensional analysis In statistics, econometrics, and related fields, multidimensional analysis is a data analysis process that groups data into two basic categories: data dimensions and measurements. for financial decision support systems; Applix office automation solutions, including Applix Office for UNIX UNIX Operating system for digital computers, developed by Ken Thompson of Bell Laboratories in 1969. It was initially designed for a single user (the name was a pun on the earlier operating system Multics). and Windows NT (Windows New Technology) A 32-bit operating system from Microsoft for Intel x86 CPUs. NT is the core technology in Windows 2000 and Windows XP (see Windows). Available in separate client and server versions, it includes built-in networking and preemptive multitasking. and Anyware Office for Java-based desktops; Applixware, an open suite of desktop and development tools for accessing, analyzing and communicating information in real-time; and Applix Anyware, an application development and deployment solution that leverages Java to customize and deploy Applix's full suite of applications. Applix has offices worldwide and can be found on the World Wide Web at www.applix.com . Notes to Investors This press release contains certain 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. which involve a number of risks and uncertainties that could cause actual results to differ materially. Specifically, comments related to the demand for, revenue from and acceptance of the Company's products and the Company's position in the markets, may be considered forward-looking and subject to a number of risks and uncertainties, including but not limited to: the rate of growth in market demand for the products; the acceptance of the Company's products; intense competitive conditions; rapid technological change; frequent new product introductions and evolving domestic and international standards which may render existing products and services obsolete OBSOLETE. This term is applied to those laws which have lost their efficacy, without being repealed, 2. A positive statute, unrepealed, can never be repealed by non-user alone. 4 Yeates, Rep. 181; Id. 215; 1 Browne's Rep. Appx. 28; 13 Serg. & Rawle, 447. . Refer to the Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended 1996 for a list of factors as discussed under "Risk Factors". All trademarks, registered trademarks and service marks are the property of their respective companies. -0-
Applix, Inc.
Consolidated Statements of Operations
(In thousands, except per share data)
Three Months Nine Months
Ended Ended
Sept. 30, Sept. 30, Sept. 30, Sept. 30,
1997 1996 1997 1996
License revenue $8,409 $9,740 $24,286 $26,097
Service revenue 3,791 3,615 10,715 10,161
Total revenues 12,200 13,355 35,001 36,258
Cost of license revenue 799 650 2,404 1,714
Cost of service revenue 1,666 1,390 4,916 3,623
Gross margin 9,735 11,315 27,681 30,921
Operating expenses:
Selling and marketing 6,745 5,702 20,686 15,491
Research and development 2,100 1,703 6,645 4,709
General and administrative 884 816 2,730 2,487
Total operating expenses 9,729 8,221 30,061 22,687
Operating income (loss) 6 3,094 (2,380) 8,234
Interest income (net) 243 358 717 985
Net income (loss) before
income taxes 249 3,452 (1,663) 9,219
Provision for (benefit from)
income taxes 93 1,208 (619) 3,226
Net income (loss) $156 $2,244 ($1,044) $5,993
Net income (loss) per common
and common equivalent share $0.01 $0.21 ($0.10) $0.56
Weighted average common and
common equivalent shares
outstanding 11,319 10,635 9,966 10,707
CONTACT: Applix Inc. (financial) Patrick J. Scannell Jr., 508/870-0300, ext. 396 or (editorial) James J. Waldron, 508/870-0300, ext. 383 |
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