Ardent Software Reports Record Financial Results On Strong Data Warehouse Revenue Growth; Pro Forma Earnings Grow 70%.WESTBORO, Mass.--(BUSINESS WIRE)--July 22, 1999-- Ardent (Ardent Software, Inc., Westboro, MA) A database vendor formed in 1998 as the merger of VMARK Software, Unidata and O2 Technology. Its products included the UniVerse and UniData databases and DataStage data warehouse utility. Software, Inc. (Nasdaq:ARDT ARDT Asset Redeployment Team ARDT After Receipt of Downtime ARDT Age Replacement during Delay Time ), a leading global data management software company, today announced record financial results for its second quarter ended June 30, 1999. Total revenues for the second quarter increased 49% to $43.7 million from $29.2 million in the same quarter of 1998. Data warehouse revenues increased 357% to $16.0 million in the second quarter of 1999 as compared to $3.5 million in the second quarter of 1998. Pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma diluted earnings per share diluted earnings per share An earnings measure calculated by dividing net income less preferred stock dividends for a period by the average number of shares of common stock that would be outstanding if all convertible securities were converted into shares of , excluding nonrecurring costs and amortization of purchased intangibles, increased 70% to $0.34 in the quarter as compared to $0.20 in the second quarter of 1998. Pro forma operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. increased 87% to $9.9 million in the quarter, representing an operating margin Operating Margin A ratio used to measure a company's pricing strategy and operating efficiency. Calculated by: of 23%, as compared to pro forma operating income of $5.3 million and an 18% operating margin in the second quarter of 1998. For the six months ended June 30, 1999, total revenues were $74.9 million, an increase of 36% from $54.9 million for the first six months of 1998. Pro forma diluted earnings per share for the first six months of 1999 increased 62% to $0.55, compared to $0.34 for the same period in 1998. Pro forma operating income for the first six months of 1999 increased 84% to $15.6 million, representing an operating margin of 21%, compared to pro forma operating income of $8.4 million and a 15% operating margin in the first six months of 1998. During the quarter, the Company successfully completed the acquisition of Prism Solutions, Inc. and recorded a one-time charge of $14.9 million related to in-process research and development and restructuring costs, resulting in a net loss of $7.7 million, or $0.43 per share. Excluding the aforementioned a·fore·men·tioned adj. Mentioned previously. n. The one or ones mentioned previously. aforementioned Adjective mentioned before Adj. 1. nonrecurring costs, diluted earnings per share for the second quarter of 1999 increased 50% to $0.27, compared to second quarter 1998 diluted earnings per share of $0.18. Diluted earnings per share for the first six months of 1999 increased 55% to $0.45 (excluding nonrecurring costs) compared to $0.29 for the same period in 1998 (excluding non-recurring, merger-related costs recognized in the first quarter of 1998). "I am pleased to report another milestone quarter for our Company," said Peter Gyenes, chairman, 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 Ardent Software. "Our performance demonstrates continued strong revenue, earnings and market share growth, as well as the impact on both the top and bottom lines that we expected from our acquisition of Prism Solutions. This acquisition was immediately accretive to earnings, and positions Ardent uniquely with broad product and services offerings that address the full range of enterprise requirements from department to data center. With Prism fully integrated, Ardent now has the critical mass of resources, customer base and references that underscore The underscore character (_) is often used to make file, field and variable names more readable when blank spaces are not allowed. For example, NOVEL_1A.DOC, FIRST_NAME and Start_Routine. (character) underscore - _, ASCII 95. our position as market share and category leanew-name accounts as we added 135 during the qunes. "We move into the second half of 1999 with momentum," concluded Mr. Gyenes. "We believe that investments that we made during the first half of the year will continue to pay off, and we anticipate leveraging those investments to increase the company's growth rate. As our track record confirms, we are committed to providing superior results both for our customers and our shareholders." Key financial measurements remained strong with cash of $33.9 million, while accounts receivable accounts receivable n. the amounts of money due or owed to a business or professional by customers or clients. Generally, accounts receivable refers to the total amount due and is considered in calculating the value of a business or the business' problems in paying days sales outstanding In accountancy, Days Sales Outstanding is a company's average collection period. A low figure indicates that the company collects its outstanding receivables quickly. Typically it is looked at either quarterly or yearly (90 or 365 days). (DSO See CSO. ) improved to 63 days in the second quarter of 1999, compared to 68 days in the second quarter of 1998. International operations Internal Operations (I.O., IO or I/O) is a fictional American Intelligence Agency in Wildstorm comics. It was originally called International Operations. I.O. first appeared in WildC.A.T.S. volume 1 #1 (August, 1992) and was created by Brandon Choi and Jim Lee. contributed 38% of total revenues. Quarterly Highlights -- Added 135 new data warehouse chnology. -- Participated in the growth orket leadership position by shipping DataStage enable the growing amount of data stored in popan expanded product suite that offers comprehenith worldwide sales and service operations, and 1,000 resellers in more than 50 countries, Ardent is one of tket under the symbol "ARDT." For more informatioks and uncertainties, including, but not limite10-K for the year ended December 31, 1998. Actua
Ardent Software, Inc. and $ 17,460 $ 41,751 $ 32,252
Services and 1,280 2,583 2,347
Cost of serviceangibles 9,940 5,315 15,580 8and
amortization of
purchased intangibles $ 16,103
Benefit from income
taxes on non-recurring
items and amortization
of purchased intangibles (2,339) (218) (2,642) (4,257)
Net income (loss) $ (7,689) $ 2,968 $ (4,436) $ (6,389)
Diluted tems $ 0.27 $ 0.18 $ 0.45 $ sed Consolidated
Balance Sheets
23 5,062
Asset held for sale equipment - net
8,440 axes 8,782 4,3revenue
24,906 equity $160,412 $82,804
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