BMC Software reports financial results for year end fiscal 1997; Thomas C. Tinsley, president of The Baan Company, appointed to board of directors.HOUSTON--(BUSINESS EDITORS)--April 23, 1997--BMC Software (Nasdaq: BMCS BMCS Bristol Muslim Cultural Society (UK) BMCS Senior Chief Boatswain's Mate (Naval Rating) BMCS Blue Mountains Conservation Society (Wentworth Falls, NSW, Australia) ) today reported record financial results for the fourth quarter and the full year ending March 31, 1997. The increasing demand for the company's enterprise-wide software solutions has been the driving force behind the record results, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Max Watson, BMC (BMC Software, Inc., Houston, TX, www.bmc.com) A leading supplier of software that supports and improves the availability, performance, and recovery of applications in complex computing environments. Software's chairman, president and chief executive officer. In addition, the company announced that Thomas (language) Thomas - A language compatible with the language Dylan(TM). Thomas is NOT Dylan(TM). The first public release of a translator to Scheme by Matt Birkholz, Jim Miller, and Ron Weiss, written at Digital Equipment Corporation's Cambridge Research Laboratory runs Tinsley Tinsley is a surname and a district in Darnall ward in England. Tinsley can refer to: People
The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of The Baan (Baan Company) A software company that was an early specialist in enterprise-wide applications. Founded in the Netherlands in 1978 by Jan and Paul Baan (Baan is pronounced like the name "Ron" with a "B"), Baan became a major ERP vendor operating in more than 80 countries. Company, has been appointed to BMC Software's Board of Directors. Total revenues for the fourth quarter of fiscal 1997 increased 25 percent to $160,600,000 from $128,300,000 in the same quarter of fiscal 1996. Net earnings increased 38 percent to $53,413,000 over fourth quarter fiscal 1996 net earnings of $38,757,000. Earnings per share for the fourth quarter of fiscal 1997 were $.50, a 35 percent increase over fourth quarter fiscal 1996 earnings per share of $.37. Overall license revenue increased 30 percent in the fourth quarter of fiscal 1997 from the fourth quarter of fiscal 1996. Open systems license and total revenues, including revenues from the PATROL(r) application and data management products, each more than doubled in the fourth quarter of fiscal 1997 from the fourth quarter of fiscal 1996. North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. license revenues climbed 35 percent and international license revenues grew 22 percent in the fourth quarter of fiscal 1997 compared to the same period in fiscal 1996. Total revenues for fiscal 1997 were $563,210,000, a 31 percent increase over fiscal 1996 total revenues of $428,850,000. Net earnings increased 55 percent to $163,872,000 over fiscal 1996 net earnings of $105,571,000 and earnings per share increased 30 percent to $1.60 from $1.23 for fiscal 1996, excluding one-time one-time adj. 1. or one·time a. Occurring or undertaken only once: a one-time winner in 1995. b. , net-of-tax charges for acquired research and development of $.07 per share in the first quarter of fiscal 1997 and $.22 per share in fiscal 1996. For fiscal 1997, North American total revenues increased 37 percent and international total revenues increased 23 percent over fiscal 1996. North American license revenues increased 50 percent, and international license revenues rose 30 percent in fiscal 1997 versus the fiscal 1996 results. "In April 1996, we outlined several important benchmarks and challenges for the company, and I'm I'm Contraction of I am. Our Living Language Speakers of some scattered varieties of American English sometimes use I'm instead of I've or I have in present perfect constructions, as in pleased to say we met or exceeded all of them," said Watson. "Fiscal 1997 has been a successful year in all areas of our business. We remained focused on our core competencies A core competency is something that a firm can do well and that meets the following three conditions specified by Hamel and Prahalad (1990):
New Board Member Appointed With Thomas Tinsley's appointment, BMC Software's Board of Directors now consists of seven members. Tinsley joined The Baan Company in 1995 as the company's managing director, president and chief operating officer. Previously, Tinsley was a managing director of McKinsey & Co., a management consulting Noun 1. management consulting - a service industry that provides advice to those in charge of running a business service industry - an industry that provides services rather than tangible objects firm, where he most recently headed the firm's global information technology practice. He joins BMC Software's Board of Directors with more than 18 years of experience in the electronics and information technology sectors in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Scandinavia Scandinavia (skăn'dĭnā`vēə), region of N Europe. It consists of the kingdoms of Sweden, Norway, and Denmark; Finland and Iceland are usually considered part of Scandinavia. and The Netherlands Netherlands (nĕth`ərləndz), Du. Nederland or Koninkrijk der Nederlanden, officially Kingdom of the Netherlands, constitutional monarchy (2005 est. pop. 16,407,000), 15,963 sq mi (41,344 sq km), NW Europe. . Highlights for Fiscal 1997 -- Licensed PATROL Agent technology to Intel to provide monitoring capabilities for Intel's i960( RP I/O processor Circuitry specialized for I/O operations. See front end processor. . -- Embedded Inserted into. See embedded system. BMC Software BMC Software, Inc. NYSE: BMC, is an American enterprise management software provider, focusing on IT infrastructure applications. BMC was founded in 1980 and is headquartered in Houston, Texas. technology into IBM's SMART BATCH See SmartBatch. product. -- Began delivering NT support for PATROL products and NetTUNE PRO(r). -- Founding member of WBEM (Web-Based Enterprise Management) An umbrella term for using Internet technologies to manage systems and networks throughout the enterprise. Both browsers and applications can be used to access the information that is made available in formats such as HTML and - an effort to standardize stan·dard·ize v. 1. To cause to conform to a standard. 2. To evaluate by comparing with a standard. Web-based enterprise management (standard, system management) Web-Based Enterprise Management - (WBEM) A DMTF management standard using the Common Information Model to represent systems, applications, networks, devices and other managed components; developed to unify the management of distributed computing - along with Cisco, Compaq (Compaq Computer Corporation, Houston, TX, www.compaq.com) Compaq was the leading PC manufacturer when it was acquired by HP in 2002. Founded in 1982 by Rod Canion, Jim Harris and Bill Murto, one year later the company shipped 53,000 PC-compatible COMPAQ Portables, resulting in $111 , Intel and Microsoft. -- Extended the PATROL(r) Management Suite's capabilities to monitor, manage and optimize optimize - optimisation Internet/Intranet servers and applications. -- Expanded the platform support and functionality of the company's data management products in the PATROL Management Suite. -- Signed a development partnership agreement to provide an application management standard for R/3(r), SAP(r) AG's client-server application, and to provide management support of R/3 by PATROL. -- Added Digital SI, EDS (Electronic Data Systems, Plano, TX, www.eds.com) Founded in 1962 by H. Ross Perot (independent candidate for the President of the U.S. in 1992), EDS is the largest outsourcing and data processing services organization in the country. , MCI Systemhouse MCI Systemhouse , a subsidiary of Washington, DC-based MCI Communications Corporation, was the result of the merger of Canadian company SHL Systemhouse with MCI's technical services branch. The new company was formed to provide systems integration and outsourcing services. , KPMG KPMG Klynveld Peat Marwick Goerdeler (accounting firm) KPMG Kaiser Permanente Medical Group KPMG Keiner Prüft Mehr Genau (German) KPMG Kommen Prüfen Meckern Gehen , SUN PS, Ernst & Young Technologies, and Price Waterhouse system integrator See systems integrator. organizations to BMC Software's Preferred Partner programs. About BMC Software BMC Software, Inc. is a global leader in the development of more than 160 computer software solutions that improve the management of business-critical applications and data, as well as optimize the performance of that critical data in complex computing computing - computer environments. A Forbes 500 company with fiscal 1997 revenues exceeding $560 million, BMC Software is the world's 11th largest independent software vendor. The company is headquartered in Houston, Texas “Houston” redirects here. For other uses, see Houston (disambiguation). Houston (pronounced /'hjuːstən/) is the largest city in the state of Texas and the with offices, distributors and agents in 50 markets worldwide. For more information on BMC Software, access the World Wide Web at http://www.bmc.com or call (800) 841-2031 or (713) 918-8800. BMC Software Reports Financial Results for Year End Fiscal 1997 This news release contains both historical information and forward looking information. Numerous important factors affect the company's operating results and could cause the company's actual results to differ materially from the results indicated by this press release or by any other forward looking statements made by, or on behalf of, the company, and there can be no assurance that future results will meet expectations, estimates or projections. These factors include, but are not limited to, the following: 1) BMC Software's revenues and earnings are subject to a number of factors, including the significant percentage of quarterly sales typically closed at the end of each quarter, that make estimation estimation In mathematics, use of a function or formula to derive a solution or make a prediction. Unlike approximation, it has precise connotations. In statistics, for example, it connotes the careful selection and testing of a function called an estimator. of operating results prior to the end of a quarter extremely uncertain; 2) BMC continues to increasingly depend on large enterprise license transactions as an integral part of its core mainframe business; 3) competition for BMC's products is increasing for both the open systems and the mainframe database utility products; 4) international results have been volatile over the last two years; 5) the uncertainties of whether new software products and product strategies will be successful; and 6) the additional risks and important factors described in the company's Quarterly Report on Form 10-Q Form 10-Q See 10-Q. for the quarter ended Dec. 31, 1996; Annual Report to Stockholders for fiscal 1996; its Annual Report to Stockholders 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 the fiscal year ended March 31, 1996 and other filings with the SEC. Note to interested parties: BMC Software has scheduled a conference call for 4:00 p.m. CST CST abbr. 1. Central Standard Time 2. convulsive shock treatment CST Central Standard Time Noun 1. today to discuss the second quarter results. Interested parties may participate by calling (415) 537-1803. BMC Software, the BMC Software Logo and all other product or service names are registered trademarks or trademarks of BMC Software, Inc. in the USA and in other select countries. (R) and (TM) indicate USA registration or USA trademark. DB2 is registered trademark of International Business Machines Corporation. Other logos and product/trade names mentioned are registered trademarks or trademarks of their respective companies. BMC Software is an Equal Opportunity Employer equal opportunity employer An employer or enterprise that does not discriminate against a job candidate, or subject him/her to adverse exclusionary criteria, based on race, sex, religion, or national origin. See Equal employment opportunity. .
BMC Software Inc. and Subsidiaries
Statements of Earnings
(Unaudited)
Three Months Ended
March 31,
Fiscal 1997 Fiscal 1996 % Increase
(In thousands, except per share data)
Revenues:
Licenses $112,250 $ 86,432 30%
Maintenance 48,350 41,868 15%
---- ----
Total Revenues 160,600 128,300 25%
Selling and marketing
expenses 41,474 37,624 10%
Research and development
expenses 19,711 15,975 23%
Cost of maintenance
services and product
licenses 15,776 12,760 24%
General and administrative
expenses 12,049 10,080 20%
---- ----
Operating Income 71,590 51,861 38%
Other Income 5,817 3,905 49%
Earnings before income ---- ----
taxes 77,407 55,766 39%
Income Taxes 23,994 17,009 41%
---- ----
Net Earnings $ 53,413 $ 38,757 38%
---- ----
Earnings per share $ .50 $ .37 35%
---- ----
Shares used in computing
earnings per share 107,858 105,358 2%
BMC Software Inc. and Subsidiaries
Statements of Earnings
Fiscal Year Fiscal Year % Increase
1997 1996 (Decrease)
(In thousands, except
per share data)
Revenues:
Licenses $380,894 $ 269,022 42%
Maintenance 182,316 159,828 14%
---- ----
Total Revenues 563,210 428,850 31%
Selling and marketing
expenses 154,829 116,724 33%
Research and development
expenses 77,459 59,011 31%
Cost of maintenance
services and product
licenses 56,569 44,854 26%
General and administrative
expenses 46,070 37,083 24%
Acquired research &
development costs 11,259 23,589 (52)%
---- ----
Operating Income 217,024 147,589 47%
Other income 20,050 15,446 30%
Earnings before income ---- ----
taxes 237,074 163,035 45%
Income taxes 73,202 57,464 27%
---- ----
Net Earnings $163,872 $105,571 55%
Earnings per share:
Before acquired R & D $ 1.60 $ 1.23 30%
Acquired R & D (net
of income taxes) (.07) (.22) 68%
---- ----
Net earnings per share $ 1.53 $ 1.01 51%
---- ----
Shares used in computing
earnings per share 107,155 104,572 2%
BMC Software Inc. and Subsidiaries
Consolidated Balance Sheets
March 31 March 31
1997 1996
____ ____
(in thousands)
Assets
Current assets:
Cash and cash equivalents $ 79,794 $ 62,128
Investment securities 59,159 68,030
Receivables:
Trade 87,576 79,299
Interest and other 11,247 7,723
------ ------
Total receivables 98,823 87,022
Prepaid expenses and other 10,606 10,792
------ ------
Total current assets 248,382 227,972
Property and equipment, net 116,296 107,912
Software development costs, net 39,486 25,840
Purchased software, net 19,735 13,400
Finance Receivables 4,397 4,146
Investment securities 402,742 221,874
Deferred charges and other assets 13,121 7,074
_______ _______
$ 844,159 $ 608,218
Liabilities and Stockholders' Equity
Current liabilities:
Trade accounts payable $ 9,439 $ 27,747
Accrued liabilities and other 50,025 49,809
Current portion of deferred revenue 145,199 106,641
------- -------
Total current liabilities 204,663 184,197
Deferred revenue and other 93,284 40,313
------- -------
Total liabilities 297,947 224,510
Stockholders' equity:
Common stock 1,050 1,050
Additional paid-in capital 82,391 67,888
Retained earnings 565,122 401,250
Foreign currency translation
adjustment (820) 82
Unrealized gain (loss) on securities
available for sale (750) 82
------- -------
646,993 470,352
Less treasury stock 96,901 84,480
Less unearned portion of restricted
stock compensation 3,880 2,164
------- -------
Total stockholders' equity 546,212 383,708
_______ _______
$ 844,159 $ 608,218
BMC Software Inc. and Subsidiaries
Supplemental Information
(in thousands, except per share data)
The impact of the charges for acquired research and development on
net earnings and earnings per share are outlined below:
Fiscal Year 1997
(unaudited)
Operations
(before Acquired Acquired
R&D R&D Net
___ ___ ___
Earnings (loss) before
income taxes $ 248,333 $ (11,259) $ 237,074
Income taxes (77,143) 3,941 (73,202)
Net earnings (loss) $ 171,190 $ (7,318) $ 163,872
Net earnings (loss)
per share $ 1.60 $ (.07) $ 1.53
Fiscal Year 1996
(unaudited)
Operations
(before Acquired Acquired
R&D R&D Net
___ ___ ___
Earning (loss) before
income taxes $ 186,624 $ (23,589) $ 163,035
Income taxes (58,222) 758 (57,464)
Net earnings (loss) $ 128,402 $ (22,831) $ 105,571
Net earnings (loss)
per share $ 1.23 $ (.22) $ 1.01
CONTACT: BMC Software Inc., Houston John Cox, 713/918-4291 john_cox@bmc.com or Angela Goodwin, 713/918-2036 angela_goodwin@bmc.com |
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