Broderbund Software Reports Solid Increase In Sales and Earnings for First Quarter.NOVATO Novato (nōvä`tō), residential city (1990 pop. 47,585), Marin co., W Calif., N of San Fransisco on San Pablo Bay; inc. 1960. In a farming and dairying area, it produces cosmetics, metal products, telephone apparatus, lumber, and wiring , Calif.--(BUSINESS WIRE)--Dec. 20, 1995--Broderbund Software, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :BROD BROD Big Bike Riders of Dagupan (Motorcycle Club in the Philippines) ) announced today its operating results for the first quarter of fiscal year 1996. Revenues in the quarter ended Nov. 30, 1995, were $71.0 million, up 34% from the $53.1 million reported during the same quarter last year. Net income for the quarter totaled $15.9 million or $.73 per share, up 37% from the $11.6 million or $.57 per share earned in the first quarter of fiscal 1995. Sales from Broderbund's published products grew 35% with the ongoing success of products like "The Print Shop Deluxe de·luxe also de luxe adj. Particularly elegant and luxurious; sumptuous: deluxe accommodations; a de luxe automobile. adv. " and "Myst," the number two and three best-selling best·sell·er also best seller n. A product, such as a book, that is among those sold in the largest numbers. best consumer products 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. PC Data for the months of September September: see month. and October October: see month. 1995 (the latest information available). Also, according to PC Data, "Math Workshop," part of Broderbund's Active Mind Series, has become one of the best-selling products in the math category. In addition, "Family Tree Maker," the top-selling genealogy genealogy (jē'nēŏl`əjē, –ăl`–, jĕ–), the study of family lineage. Genealogies have existed since ancient times. program, expanded the productivity family of products since the acquisition of Banner Blue Software in April 1995. International sales showed significant growth in the first quarter of fiscal 1996, more than doubling over the first quarter of the prior year. Increases in the personal computer installed base worldwide and increases in the number of foreign versions of Broderbund products fueled international expansion. Leveraging Broderbund's distribution into over 19,000 U.S. retail storefronts and increasing international presence, revenues from affiliated label products also showed strong growth, up 31% in the first fiscal quarter. Broderbund currently has 13 affiliated label companies as compared to eight affiliates last year. Affiliated label companies have recently released several successful products, including "Ascendancy as·cen·dan·cy also as·cen·den·cy n. Superiority or decisive advantage; domination: "Germany only awaits trade revival to gain an immense mercantile ascendancy" Winston S. Churchill. " from The Logic Factory and "Dr. Seuss's ABC ABC in full American Broadcasting Co. Major U.S. television network. It began when the expanding national radio network NBC split into the separate Red and Blue networks in 1928. " from Living Books. "We feel that the growth we saw in the first quarter is strong validation See validate. validation - The stage in the software life-cycle at the end of the development process where software is evaluated to ensure that it complies with the requirements. of Broderbund's strategic model for the consumer software market," said Doug Carlston Doug Carlston was CEO, chairman, and co-founder (with brother Gary) of Brøderbund Software, a software publishing firm that produced such hit titles as Myst and Where in the World is Carmen Sandiego?. , chairman and chief executive officer. "Consumers are voting with their dollars to purchase quality software with good content that provides lasting value to the family. We are proud of Broderbund's reputation for producing innovative software of the highest quality that provides ongoing value for our customers." Broderbund Software, Inc. develops, publishes and markets a diversified diversified (di·verˑ·s line of consumer software for use in homes, schools and small businesses. Since its founding in 1980, Broderbund has pioneered innovative award-winning Adj. 1. award-winning - having received awards; "this award-winning bridge spans a distance of five miles" products that take advantage of the latest technologies. Broderbund has a successful track record of identifying and capitalizing on emerging trends through its studio development approach. Broderbund's web site is located at: http://www.broderbund.com. -0-
BRODERBUND SOFTWARE, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except per share data)
(Unaudited)
Three months ended November 30,
------------------------------
1995 1994
---- ----
Net revenues $70,961 $53,089
Cost of revenues 24,920 23,528
------ ------
Gross margin 46,041 29,561
------ ------
Operating expenses:
Sales and marketing 10,792 6,649
Research and development 7,437 4,630
General and administrative 2,832 2,789
------ ------
Total operating expenses 21,061 14,068
------ ------
Income from operations 24,980 15,493
Nonoperating income 1,580 4,055
------ ------
Income before income taxes 26,560 19,548
Provision for income taxes 10,624 7,955
------ ------
Net income $15,936 $11,593
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Net income per share $ 0.73 $ 0.57
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Shares used in computing
net income per share 21,687 20,445
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BRODERBUND SOFTWARE, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited)
Nov. 30, Aug. 31, Nov. 30,
1995 1995 1994
ASSETS ------- ------- -------
Current assets:
Cash and short term investments $135,898 $126,547 $ 92,461
Accounts receivable, net 26,071 7,880 12,950
Income tax prepayments -- 487 --
Inventories 3,285 2,562 1,096
Deferred income taxes 16,745 13,880 11,936
Prepaid expenses and other
current assets 1,688 1,186 1,001
------- ------- -------
Total current assets 183,687 152,542 119,444
Equipment and improvements, net 6,282 5,570 4,425
Deferred income taxes 929 928 655
Other assets 2,628 2,511 2,258
------- ------- -------
$193,526 $161,551 $126,782
======= ======= =======
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable $ 10,520 $ 6,094 $ 9,038
Income taxes payable 13,901 -- 9,370
Accrued compensation 7,492 11,062 3,478
Other accrued expenses 15,527 15,492 11,541
------ ------ ------
Total current liabilities 47,440 32,648 33,427
Other liabilities -- 21 115
------ ------ ------
Total liabilities 47,440 32,669 33,542
------- ------- -------
Stockholders' equity 146,086 128,882 93,240
------- ------- -------
$193,526 $161,551 $126,782
======= ======= =======
CONTACT: Broderbund Software, Inc., Novato Robin Linstrom, 415/382-4449 (Investor Relations Investor relations The process by which the corporation communicates with its investors. ) Eric Winkler Winkler may refer to:
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