Brio Technology Announces Fourth Quarter Results; Brio Delivers on Pledge to Customers, Partners, Employees and Shareholders.Business Editors SANTA CLARA Santa Clara, city, Cuba Santa Clara (sän`tä klä`rä), city (1994 est. pop. 217,000), capital of Villa Clara prov., central Cuba. , Calif.--(BUSINESS WIRE)--April 24, 2001 Brio Technology Brio Technology was a San Francisco Bay area software company cofounded in 1984 by Yorgen Edholm and Katherine Glassey. It made money early on by doing contract work for Metaphor Corporation and performing contract programming. , Inc. (Nasdaq:BRIO (Brio Technology, Palo Alto, CA, www.brio.com) A software company founded in 1989 and acquired by Hyperion Solutions Corporation in 2003 that specialized in enterprise analysis and reporting programs that run on several platforms. ), a leading provider of business intelligence and analytic an·a·lyt·ic or an·a·lyt·i·cal adj. 1. Of or relating to analysis or analytics. 2. Expert in or using analysis, especially one who thinks in a logical manner. 3. Psychoanalytic. solutions for the Fortune 1000, today reported revenues of $44.2 million for the fourth quarter of fiscal 2001. This represents an increase of approximately 12% from $39.6 million reported in the comparable fiscal 2000 quarter. Net loss for the quarter ended March 31, 2001, was $623,000 or a loss of $0.02 per 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. share compared to net income of $5.0 million, or $0.16 per diluted share for the quarter ended March 31, 2000. Revenues for the fiscal year ended March 31, 2001, were $150.0 million, up 14% compared to $132.0 million for the fiscal year ended March 31, 2000. "Brio hit its quarter in a very challenging economic environment," stated Craig Craig , Edward Gordon 1872-1966. British theatrical producer, director, and designer whose innovative productions and simplified stage designs influenced modern theater. Brennan Bren·nan , William Joseph, Jr. 1906-1997. American jurist who served as an associate justice of the U.S. Supreme Court (1956-1990). , Brio's 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. . "This was Brio's most successful quarter yet, with a record number of $100,000+ deals, new partnerships and a healthy balance of transactions across vertical industries, geographies and multiple channels." Another key accomplishment of the quarter, as separately announced today, was hiring Don Beck as the new executive vice president of worldwide sales. "Don brings a wealth of sales leadership and execution experience to Brio," stated Brennan. "He joins Brio with 24 years of sales management Sales Management Role and Goal Importance of sales management is critical for any commercial organization. Expanding business in not possible without increasing sales volumes, and effective sales management goal is to organize sales team work in such a manner that ensures a experience, most recently at JD Edwards See J.D. Edwards. , where he was the vice president of sales for all strategic products worldwide, and, prior to that, at IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) where he ran a 300+ person, $700 million sales organization." Furthermore, Brio made significant progress on one of its most important internal initiatives Brio@Brio, a company-wide program to internally leverage all of Brio's capabilities. "As of April 1, right on schedule, Brio implemented its CEO Dashboard (1) See Mac Dashboard. (2) A software-based control panel for one or more applications, network devices or industrial machines. Dashboards display simulated gauges and dials that look somewhat like an automobile dashboard. , with initial focus on bookings, billings, and backlog Backlog The total value of sales orders waiting to be fulfilled. Notes: This figure is used mainly in the manufacturing industry. Increases or decreases in a company's backlog indicate the future direction of sales and earnings. . This is a very powerful application providing me tremendous insight into all aspects of our sales performance," stated Brennan. "In addition, my team provided me with Brio's first Wireless Mobile Sales Performance Application, available through my PDA (Personal Digital Assistant) A handheld computer for managing contacts, appointments and tasks. It typically includes a name and address database, calendar, to-do list and note taker, which are the functions in a personal information manager (see PIM). . Given today's hyper-competitive and constantly changing economic environment, it is critical to have up-to-date sales performance information to better drive the company's performance." Additional Fourth Quarter Highlights: -- Increased sales during the quarter with numerous premier organizations who continue to invest in Brio solutions, including Fortune 100 companies Allstate Insurance, The Boeing Company, Dell Computer, General Electric, IBM, Motorola, PepsiCo and United Parcel Service. -- Continued adoption of the Brio Enterprise Decision Platform(TM) across a wide variety of vertical industries, such as, Andersen (professional services), Bonneville Power Administration (energy), Comerica and FX Alliance (finance), Minerals Management Service (mining), PeopleSoft (technology) and Yale University (education). -- Expanded international sales, adding new customers, including ING Group, New China Cargo Transportation Company and Telstra Fleetsmart, and further penetrated existing customers, including Credit Suisse Group and ABB. Brio Earnings Conference Call The company will discuss its results in a conference call on April 24, 2001 at 2:00 p.m. PDT PDT abbr. Pacific Daylight Time PDT Pacific Daylight Time PDT n abbr (US) (= Pacific Daylight Time) → hora de verano del Pacífico PDT . Craig Brennan, president and chief executive officer, and Tamara TAMARA There Are Many and Real Alternatives MacDuff Macduff may refer to:
The process by which the corporation communicates with its investors. page. Listeners should go to the website at least 15 minutes early to register, download To receive a file transmitted over a network. In any communications session, "download" means receive, and "upload" means send. The download/upload often implies a big/little scenario, in which data is being downloaded from the "big" server into the "little" user's computer. and install any necessary audio software. A replay of the call will also be available on the company's website, http://www.brio.com on the investor relations page, for 30 days after the call. About Brio Technology Brio Technology provides a proven and reliable analytic software platform that enables companies to simplify the complex process of using corporate data to make better day-to-day day-to-day adj. 1. Occurring on a routine or daily basis: the day-to-day movements of the stock market. 2. decisions. Widely recognized as one of the easiest to use and deploy analytic platforms in the industry, the Brio Enterprise Decision Platform(TM) expands business intelligence beyond advanced query and analysis technologies to include powerful information delivery through enterprise-class reporting and executive dashboards. Used by more than half of the Fortune 500, Brio products empower empower verb To encourage or provide a person with the means or information to become involved in solving his/her own problems individuals, workgroups See workgroup, workgroup-based network and Windows for Workgroups. and executives in an organization to find, access, share, manage, and exchange information with thousands of employees, partners and customers through an Internet-enabled enterprise. Founded in 1989, and headquartered in Santa Clara, CA, Brio products and services can be found around the globe at www.brio.com. Brio and BrioQuery are registered trademarks of Brio Technology. BrioQuery.Server, Brio.Insight, Brio.Impact, Brio.Quickview QuickView is a file viewer application in Windows 95, Windows 98 and Windows NT operating systems. With some workarounds the viewer can be used to view practically any file [1]. , Brio.Report, Brio.Portal and Brio Enterprise Decision Platform are trademarks of Brio Technology. The statements in this press release regarding our future product development and commercialization, product sales and other revenues, market opportunities, beliefs, expectations, goals, financial performance and future strategies 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. " within the meaning of Section 27A of the Securities Act of 1933, as amended a·mend v. a·mend·ed, a·mend·ing, a·mends v.tr. 1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive. 2. , and Section 21E of the Securities and Exchange Act of 1934, as amended. Such statements are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated. Such risks and uncertainties include, but are not limited to, the potential for fluctuations in Brio's quarterly operating results, Brio's dependence upon its direct sales force, Brio's ability to attract and retain qualified personnel and Brio's lengthy product sales cycle. For a more complete discussion of risk factors that could affect the Company's current and future operating results, see the discussions in the Company's reports filed with the SEC from time to time, including but not limited to the Company's 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 the year ended March 31, 2000 filed with the SEC on June June: see month. 29, 2000, as amended on July July: see month. 28, 2000, and the Company's Quarterly Report on Form 10-Q Form 10-Q See 10-Q. for the quarter ended December December: see month. 31, 2000 filed with the SEC on February February: see month. 14, 2001.
BRIO TECHNOLOGY, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
March 31, March 31,
2001 2000
-------- ---------
ASSETS
Current assets:
Cash and cash equivalents $ 13,048 $ 21,573
Short-term investments 2,280 11,831
Accounts receivable 34,085 31,429
Inventories 333 822
Deferred income taxes 447 1,890
Prepaid expenses and other
current assets 4,877 3,862
-------- --------
Total current assets 55,070 71,407
Property and equipment, net 31,508 12,118
Other assets 1,626 2,339
-------- --------
$ 88,204 $ 85,864
======== ========
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable $ 7,679 $ 7,801
Accrued liabilities--
Payroll and related benefits 13,307 11,423
Other 9,695 8,786
Deferred revenue, current 30,363 24,108
-------- --------
Total current liabilities 61,044 52,118
Noncurrent deferred revenue 793 2,717
Other noncurrent liabilities -- 2,903
--------- --------
Total liabilities 61,837 57,738
-------- --------
Stockholders' equity:
Common stock 29 28
Additional paid-in capital 83,720 76,807
Notes receivable from stockholders (36) (483)
Deferred compensation (32) (118)
Accumulated components of
comprehensive income 756 312
Accumulated deficit (58,070) (48,420)
-------- --------
Total stockholders' equity 26,367 28,126
-------- --------
$ 88,204 $ 85,864
======== ========
BRIO TECHNOLOGY, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)
Three Months Ended Twelve Months Ended
March 31, March 31,
2001 2000 2001 2000
---- ----- ---- ----
Revenues:
License fees $ 27,409 $ 26,889 $ 88,196 $ 89,670
Services 16,796 12,733 61,778 42,366
-------- -------- -------- --------
Total revenues 44,205 39,622 149,974 132,036
-------- -------- -------- --------
Cost of revenues:
License fees 858 909 3,652 3,254
Services 7,716 4,722 27,528 16,835
-------- -------- -------- --------
Total cost of
revenues 8,574 5,631 31,180 20,089
-------- -------- -------- --------
Gross profit 35,631 33,991 118,794 111,947
-------- -------- -------- --------
Operating expenses:
Research and
development 7,323 5,403 26,291 19,917
Sales and marketing 23,884 19,788 86,453 66,208
General and
administrative 4,426 3,440 15,256 13,840
Non-recurring
operating expenses -- -- -- 22,297
-------- ------- ------ -------
Total operating
expenses 35,633 28,631 128,000 122,262
--------- ------- ------- -------
Income (loss) from
operations (2) 5,360 (9,206) (10,315)
Interest and other
income (expense), net (521) 228 (344) 748
--------- --------- -------- -------
Income (loss) before
provision for
income taxes (523) 5,588 (9,550) (9,567)
Provision for
income taxes 100 634 100 1,343
--------- ------- -------- -------
Net income (loss) $ (623) $ 4,954 $ (9,650) $(10,910)
========= ======= ========= ========
Basic net income
(loss) per share $ (0.02) $ 0.18 $ (0.34) $ (0.43)
========= ======= ======== =========
Shares used in
computing basic
net income (loss)
per share 28,626 27,563 28,318 25,261
========= ======= ======= =======
Diluted net income
(loss) per share $ (0.02) $ 0.16 $ (0.34) $(0.43)
========= ====== ========= ======
Shares used in
computing diluted
net income (loss)
per share 28,626 31,070 28,318 25,261
========= ======== ======== =======
Supplemental net income (loss) data:
Net income (loss)
excluding non-recurring
operating expenses
(net of tax effect) $ (623) $4,954 $ (9,650)$ 11,267
========= ======= ========== =======
Basic net income (loss)
per share excluding
non-recurring operating
expenses $ (0.02) $ 0.18 $ (0.34) $0.45
======== ====== ========= ======
Shares used in computing
basic net income (loss)
per share 28,626 27,563 28,318 25,261
======= ====== ====== ======
Diluted net income (loss)
per share excluding
non-recurring operating
expenses $ (0.02) $ 0.16 $ (0.34) $ 0.37
========= ====== ========= =======
Shares used in computing
diluted net income (loss)
per share 28,626 31,070 28,318 30,285
======== ====== ======== ======
|
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion