Boole & Babbage Reports Record Results for First Quarter of Fiscal 1999.SAN JOSE San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif.--(BUSINESS WIRE)--Jan. 20, 1999-- License Growth was 17% as Distributed Systems Distributed systems (computers) A distributed system consists of a collection of autonomous computers linked by a computer network and equipped with distributed system software. Increased by 57%; 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 by 34% With Margins At 18.1%; Diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. EPS (Encapsulated PostScript) A PostScript file format used to transfer a graphic image between applications and platforms. EPS files contain PostScript code as well as an optional preview image in TIFF, WMF, PICT or EPSI, the latter being an ASCII-only format. was Up 26% to $.34 and Cash & Investments Grew to $95 Million Boole & Babbage, Inc. (Nasdaq:BOOL), today announced that revenues for its first fiscal quarter ended December 31, 1998 were a record $60,720,000 or a 15% increase over fiscal 1998's first quarter revenues of $52,933,000. Operating income was up 34% to $11,018,000 compared with $8,240,000 in 1998's first quarter. 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 increased 26% to a record tying $.34 versus $.27 last year. Currency rates had no impact on the earnings per share for the quarter. "This quarter, which is very likely our last as an independent company, represented our 29th consecutive quarter of results that met or exceeded street expectations" said Paul E. Newton, 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. . "We reported record revenues and I was extremely pleased with the focused effort of our employees as they continued to take great care of customers and build world-class products despite potential distractions from the pending merger with 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. . "Led by a record quarter in Europe, our licensing revenues grew 20% in both Europe and North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and by more than 60% for our subsidiaries in Japan and Australia. However, this 23% growth from Boole's direct sales was reduced to 17% overall since our agent distributors declined by slightly more than 50% as we continued our conservative cash-basis accounting for those entities. "Our distributed systems license revenue grew 57% to record levels as it showed its fourth consecutive sequential increase and constituted 38% of total license revenue. This success was propelled by the acceleration in the adoption of COMMAND/POST(R) which is now establishing itself as the industry standard for end-to-end end-to-end a pattern of anastomosis in which severed ends are matched and united, in contrast with other patterns such as end-to-side or side-to-side. Usually applied to anastomosis of the intestine. service level management. "Our mainframe products achieved their 2nd best quarter ever and showed steady growth of 1%. Overall, for calendar 1998 we hit our business model metrics metrics Managed care A popular term for standards by which the quality of a product, service, or outcome of a particular form of Pt management is evaluated. See TQM. as our distributed products grew 55% and comprised 37% of licensing revenue while our mainframe products grew 3%. "As we prepare for the impending im·pend intr.v. im·pend·ed, im·pend·ing, im·pends 1. To be about to occur: Her retirement is impending. 2. merger with 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. , I am excited by reports from our integration planning teams confirming there is minimal product overlap yet strong benefits by linking the products. This allows us to build additional customer value rather than try to rationalize ra·tion·al·ize v. 1. To make rational. 2. To devise self-satisfying but false or inconsistent reasons for one's behavior, especially as an unconscious defense mechanism through which irrational acts or feelings are made to appear product lines. We feel the merger announcement has already enhanced our visibility and general awareness, which is very helpful in expanding our business pipeline. I am also pleased with the very favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. customer and industry analyst reactions as our ratings have been upgraded. We eagerly look forward to completing the merger and growing our business to new record levels," Newton concluded. -0-
Quarterly Highlights
-- COMMAND/POST won the Crossroads 99 A-List Award for application
management in the Technology Infrastructure category. The
Crossroads A-List Awards is sponsored by Open Systems Advisors,
Inc. and identifies the best enterprise solutions, field proven
for today's challenges. COMMAND/POST won the award based on
customer accomplishments.
-- The Technology Managers Forum International, a professional
association of IT directors and managers from high-tech
organizations, chose Ontario Hydro, one of Boole's premier
customers, as a recipient of its prestigious Best Practices
Awards for 1998. Ontario Hydro was nominated because of its
innovative use of state-of-the-art enterprise management tools to
monitor and control the entire IT infrastructure in an efficient,
economical way.
-- Further strengthened the capabilities of our MainView(R) solution
with the announcement of availability of MainView Explorer, a
greatly simplified method for managing the traditional S/390 and
Parallel Sysplex environments. Part of our Desired State
Management initiative, MainView Explorer enables companies to
proactively manage their S/390 applications from a web-based
graphical user interface which tightly interoperates with
COMMAND/POST.
-- Announced advanced synchronization of enterprise automation
across mainframe and client/server environments which is
delivered via a new direct TCP/IP connection between
COMMAND/POST, and our OS/390 automated response tool, MainView
AutoOPERATOR(tm). The direct TCP/IP connection allows high
bandwidth data transfers that enable multiple, concurrent
conversations from one or more OS/390 systems to one or more
COMMAND/POST servers. This is important when taking immediate
corrective actions in an OS/390 environment where high priority
malfunctions could occur to subsystems or applications
concurrently.
-- Announced the availability of COMMAND/POST connect
ServiceCenter(R) which provides advanced integration
out-of-the-box between our industry-leading, best-of-breed
service level management solution, COMMAND/POST, and the
Peregrine Systems(R) Infrastructure Service Desk solution,
ServiceCenter(R). The connect ServiceCenter integration solution
makes it easier for customers to manage their end-user
environment to ensure the fastest possible response to issues
that might affect the availability of mission-critical
applications.
-0- Earnings Conference Call information: To be held on Wednesday, January 20, 1999 at 2:00 p.m. Pacific standard time with instant replay available until 6:00 p.m. Pacific standard time on Friday January 22, 1999. The call-in number is 312/470-0014, code BOOLE and the instant replay number is 402/998-1851. About Boole & Babbage, Inc. Boole & Babbage is a leader in application service level management for distributed systems. Its Enterprise Automation product lines provide a flexible and scaleable set of solutions used by many Fortune 1000 companies to centralize cen·tral·ize v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es v.tr. 1. To draw into or toward a center; consolidate. 2. all the IT operations, including systems, applications, databases, middleware Software that functions as a conversion or translation layer. It is also a consolidator and integrator. Custom-programmed middleware solutions have been developed for decades to enable one application to communicate with another that either runs on a different platform or comes from a , and Web technologies, into a coherent business view to reduce overall business costs. Founded in 1967 and named after two 19th Century forerunners to the modern computing computing - computer industry (George Boole (person) George Boole - 1815-11-02 - 2007-10-24 12:44 best known for his contribution to symbolic logic (Boolean Algebra) but also active in other fields such as probability theory, algebra, analysis, and differential equations. He lived, taught, and is buried in Cork City, Ireland. -- of Boolean algebra Boolean algebra (b  `lēən), an abstract mathematical system primarily used in computer science and in expressing the relationships between sets (groups of objects or concepts). and
Charles Babbage (person) Charles Babbage - The british inventor known to some as the "Father of Computing" for his contributions to the basic design of the computer through his Analytical Engine. -- the Babbage Computing Machine) the Company today is
the oldest publicly-traded independent software vendor in the systems
management industry with revenues of $226 million in calendar 1998, 970
employees and 43 offices in 26 countries. For more investor information,
call 800/722-6653, ext. 3417 or visit us on the Web at www.boole.com.Except for the historical information contained herein, the matters discussed in this news release are 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. that involve risks and uncertainties, including: (a) timely development and market acceptance of new products, (b) the impact of competitive products particularly from larger companies with more resources, (c) worldwide economic conditions as they affect the spending intentions of the Company's customers, (d) risks and uncertainties relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the Platinum Technology Platinum Technology Inc. was founded by Andrew Filipowski in 1987 to market and support deployment of Database Management software products and the applications enabled by database management technology and render related services. litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. described on form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. filed on January 8, 1999, (e) the likelihood and timing of the proposed transaction between Boole and BMC, and (f) risks and uncertainties detailed from time to time in Boole's SEC reports, including its 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. Annual Report for fiscal 1998 and the Form S-4 Registration Statement relating to the BMC merger, filed by BMC on November 13, 1998. Note to Editors: Boole & Babbage, COMMAND/POST and MainView are registered trademarks of Boole & Babbage, Inc. AutoOPERATOR and SpaceView are trademarks of Boole & Babbage, Inc. All other product names and trademarks are property of their respective owners. Following are highlights of the results for the first quarter of fiscal 1999: -0-
Boole & Babbage, Inc.
Consolidated Statements of Income
(Amounts in thousands, except net income per share)
Three Months Ended
December 31,
--------------------------
1998 1997
-------- --------
Revenue:
Product licensing $ 35,339 $ 30,209
Maintenance fees and other 25,381 22,724
-------- --------
Total revenue 60,720 52,933
-------- --------
Costs and expenses:
Cost of product licensing 3,938 4,211
Cost of maintenance fees and other 6,569 5,135
Product development 6,454 6,456
Sales and marketing 27,102 24,391
General and administrative 5,639 4,500
-------- --------
Total costs and expenses 49,702 44,693
-------- --------
Operating income 11,018 8,240
Interest and other income, net 3,267 3,383
-------- --------
Income before provision for income taxes 14,285 11,623
Tax rate 28.0% 28.0%
Provision for income taxes 4,000 3,255
-------- --------
Net income $ 10,285 $ 8,368
======== ========
Shares used in per share
calculations - diluted (a) 30,415 30,675
======== ========
Net income per share - diluted $ 0.34 $ 0.27
(a) Reflects 3-for-2 stock split effective March 25, 1998
Boole & Babbage, Inc.
Condensed Consolidated Balance Sheets
(Amounts in thousands)
December 31, September 30,
1998 1998
Assets ----------- ------------
Cash and short-term
investments $ 95,014 $ 92,506
Installment and other
receivables, net 138,941 123,689
Accounts receivable, net 24,921 23,213
Deferred tax asset 22,833 22,749
Purchased and internally
developed software, net 13,088 12,898
Equipment, furniture and
leasehold improvements, net 10,831 11,225
Other assets 34,321 23,646
Total assets $ 339,949 $ 309,926
Liabilities and
Stockholders' Equity
Accounts payable and
accrued expenses $ 54,511 $ 53,812
Notes payable and capital
lease obligations 2,180 2,433
Deferred maintenance revenue 124,155 113,128
Stockholders' equity
Common stock 105,161 102,295
Retained earnings 79,739 69,454
Unrealized gain on
marketable securities 16,657 6,424
Foreign currency translation
adjustment (1,571) (2,226)
Less treasury stock (40,883) (35,394)
Total stockholders' equity 159,103 140,553
Total liabilities and
stockholders' equity $ 339,949 $ 309,926
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