Business Objects Announces Expectations for Second Quarter Results.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)--July 8, 1997--Business Objects (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 :BOBJY) today announced that net revenues for the second quarter ended June 30, 1997 are currently expected to be approximately $26 million. The Company currently expects approximately break even results for the quarter. These estimated results are preliminary, subject to the Company closing its books and the Company's management and independent auditors Independent Auditor An external auditor with a certified public accounting designation that qualifies him or her to provide an auditor's report. Notes: These auditors aren't affiliated with the company being audited. completing their customary quarterly review procedures. Business Objects plans to announce final results and more detailed information for the second quarter on or about July 24, 1997. Bernard Liautaud Bernard Liautaud is chairman and chief strategy officer of Business Objects. Liautaud cofounded Business Objects in 1990 and was chief executive officer until September 2005. , 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. of Business Objects stated: "This was the highest revenue quarter ever in the history of Business Objects. While we are pleased, this revenue level is slightly below our earlier expectations. Compared to the same quarter last year, revenue was negatively impacted by a stronger dollar. Using the exchange rates of the second quarter of last year, revenue would have been over $1 million higher. "While we were pleased with the revenue contributed by the recent acquisitions of our distributors in Italy and Switzerland, we incurred significant additional expenses in the quarter due to these acquisitions. During the quarter, we also continued to invest significantly in our operations in the US through the addition of personnel and expenditures for marketing programs. These additional expenses and the lower than expected revenue, produced an operating profit Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. level lower than earlier anticipated." This press release contains forward looking statements. Such forward looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those anticipated. Such risks and uncertainties include, but are not limited to: residual effects of the product transition issues with BUSINESSOBJECTS 4 encountered in 1996, the timing of the introduction and the quality of products or product enhancements, competition and pricing in the computer software industry, the size and timing of individual license transactions, variability of the Company's sales cycle, customer order deferrals in anticipation of new products, and customers' budget changes. For a more complete discussion of risk factors which 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 Annual Report on Form 20-F for the year ended December 31, 1996 and the Form 6-K for the quarterly period ended March 31, 1997. About Business Objects Business Objects is the world's leading provider of integrated enterprise decision support tools. Business Objects products provide non-technical business users with access to information stored in data warehouses, data marts, and packaged business applications. Business Objects provides a complete suite of decision support tools including query, reporting, online analytical processing Online Analytical Processing, or OLAP (IPA: /ˈoʊlæp/), is an approach to quickly provide answers to analytical queries that are multidimensional in nature. , data mining, and DSS (1) (Digital Signature Standard) A National Security Administration standard for authenticating an electronic message. See RSA and digital signature. (2) (Digital Satellite S administration for both client/server and internet environments. Business Objects has sold more than 525,000 licenses to over 4,500 organizations in more than 60 countries worldwide. Business Objects may be reached by phone at 408-953-6000 or on the worldwide web at http://www.businessobjects.com . The company's stock is publicly traded under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors BOBJY. -0- A full-text copy of this announcement may be obtained by calling the Company's fax retrieval line at 1-800-414-2114 and selecting option "two". The announcement may also be downloaded from the Web; access "http://www.businesswire.com/cnn" and search on "Business Objects". BUSINESSOBJECTS and WEBINTELLIGENCE are trademarks of Business Objects S.A. Other company and product names may be trademarks of the respective companies with which they are associated. CONTACT: Business Objects Robert P. Verheecke - Chief Financial Officer Tracy Eiler - Corporate Communications Corporate communications is the process of facilitating information and knowledge exchanges with internal and key external groups and individuals that have a direct relationship with an enterprise. 408/953-6172 - Investor Relations Investor relations The process by which the corporation communicates with its investors. 408/953-6000 - main number |
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