Broadway & Seymour reports earnings for the three months ended September 30, 1995.Seymour reported net income for the three months ended September 30, 1995 of $2,507,000, or $.27 per share, on revenue of $33.2 million. This compares with net income of $1,930,000, or $.23 per share, on revenue of $32.3 million for the three months ended September 30, 1994. For the nine months ended September 30, 1995, the Company reported net income of $5,321,000 on revenue of $98.4 million compared with net income of $4,702,000 on revenue of $84.4 million for the same period in the prior year. Broadway & Seymour Chairman and Chief Executive Officer William W. Neal commented, "Third quarter results include both normal operations Generally and collectively, the broad functions that a combatant commander undertakes when assigned responsibility for a given geographic or functional area. Except as otherwise qualified in certain unified command plan paragraphs that relate to particular commands, "normal operations" of and positive contributions from an earlier than planned completion of obligations from our June 1995 sale of the community banking business with its associated licenses. This event allowed us to recognize revenues previously deferred and results were also enhanced by income earned from the transfer of a consulting services Noun 1. consulting service - service provided by a professional advisor (e.g., a lawyer or doctor or CPA etc.) service - work done by one person or group that benefits another; "budget separately for goods and services" contract. These two events contributed $6.1 million to quarterly results." Mr. Neal continued, "We have completed our internal reengineering analysis and have begun programs to improve the operating performance of our core operations. We expect to develop a restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). plan in the fourth quarter which may result in a one-time charge. We expect the efficiencies achieved thereby will improve our operating margins Operating Margin A ratio used to measure a company's pricing strategy and operating efficiency. Calculated by: and help us achieve our FY96 and forward objectives. We expect to quantify Quantify - A performance analysis tool from Pure Software. these charges by the end of November." "Prospects for future business continue to be encouraging," said Neal. Broadway & Seymour is an innovative information technology company providing integrated business solutions to the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. and other selected markets worldwide. It offers products, software development and support, and systems integration outsourcing (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management. . -FINANCIAL TABLES TO FOLLOW- CONTACT: David L. Durham -or- Kristin Anderson Senior Vice President Ludgate Communications (704) 344-3214 (212) 688-5144 |
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