Applix Reports Estimated Results for Q1 2001.Business/Technology Editors WESTBORO, Mass.--(BUSINESS WIRE)--April 4, 2001 Company Announces Cost Reductions to Achieve Profitability in Fiscal 2001 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 customer analytics and business planning software, announced today that it expects revenues from continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the for the first quarter of 2001 to be approximately $11.0 million and it expects to report a loss from continuing operations in the range of $0.25 to $0.28 per share for the same period. The first quarter estimated results compare unfavorably to the Company's previous forecasts of $13 - $13.5 million in revenues and a loss of $0.05 - $0.08 per share, which excludes the effect of any tax benefit. The first quarter estimated results compare to revenues from continuing operations of $9.3 million, an increase of $1.7 million, or 18%, and a loss from continuing operations of $0.11 per share, for the first quarter of 2000. The Company attributed the expected shortfall The introduction to this article provides insufficient context for those unfamiliar with the subject matter. Please help [ improve the introduction] to meet Wikipedia's layout standards. You can discuss the issue on the talk page. to delays in purchases resulting from a global slowdown For articles with similar titles, see Slow Down (disambiguation). A slowdown is an industrial action in which employees perform their duties but seek to reduce productivity or efficiency in their performance of these duties. in information technology spending. Alan Goldsworthy, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Applix commented, "Our first quarter results were negatively impacted by the economic slowdown in the technology sector in general. We anticipated receiving several orders towards the end of the quarter that would have allowed us to meet or exceed our revenue expectations. We are confident that these orders are delayed and not cancelled projects. Even with these difficult times we have grown our revenues from the first quarter of 2000 by nearly 20%. Additionally, we ended the quarter with a more favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. cash position than we had forecasted (over $12 million), due to increased cash collections as well as the proceeds from the sale of VistaSource." Goldsworthy went on to say, "We continue to strengthen our position in the CRM/Analytics market with increased visibility with industry analysts, market specific publications and with the acquisition of Dynamic Decisions of Australia which will be accretive to our financial performance. Returning the Company to operate on a "break even" basis and preserving our cash position are our top priorities at this time. We are instituting cost reductions in the second quarter of 2001 that we believe will allow the Company to achieve profitability and positive cash-flow in the second half of fiscal 2001. We do not anticipate that any workforce reductions will be necessary to achieve these cost savings." The Company will announce its final results for the first quarter on April 24, 2001 at which time management will host a conference call discussing the Company's results as well as providing earnings guidance for the remainder of the fiscal year. (Details to Come) About Applix: Applix, Inc. (NASDAQ:APLX) is a global provider of customer analytics and business planning software that rapidly transforms information into knowledge, enabling companies worldwide to obtain and retain customers through better decision-making. Applix captures information from every corner of a company's extended enterprise, including internal and external customers, financial operations, partners and suppliers. Its flexible, scalable products - designed to adapt to companies' unique and competitive business processes - provide analysis, planning, measurement and response to changing customer requirements and business dynamics, all in real time. Applix is one of the world's only single source providers of CRM (Customer Relationship Management) An integrated information system that is used to plan, schedule and control the presales and postsales activities in an organization. , customer analytics and business planning, making it a pioneer of Demand Chain Management. Headquartered in Westboro, MA, Applix maintains offices in eight countries and has more than 4,000 customers worldwide. For more information on Applix, please 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. 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. 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 Company's most recently filed Annual Report on 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 a list of factors as discussed under "Risk Factors". 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 CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or after the date hereof here·of adv. Of this. hereof Adverb Formal or law of or concerning this Adv. 1. hereof - of or concerning this; "the twigs hereof are physic" or to reflect the occurrence of anticipated or unanticipated events. Accordingly, these forward-looking statements should not be relied upon as representing Applix's views as of any date subsequent to the date of this release. All trademarks, registered trademarks, and service marks are the property of their respective owners. |
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