Business Objects Reports First Quarter Results.PARIS--(BUSINESS WIRE)--April 25, 1996-- 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 its results for the quarter ended March 31, 1996. First quarter revenues of $20.2 million were up 69% over revenues of $11.9 million in the same period last year. Net income for the first quarter was $2.5 million compared to $1.2 million for the same period last year, an increase of 103%. Earnings per ADS for the quarter ended March 31, 1996 were $0.29, as compared to $0.15 in the first quarter of last year. 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 & 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. , said that the Company's results reflected continued leadership in data warehousing See data warehouse. data warehousing - data warehouse and decision support. "The rapidly growing market of data warehousing, which facilitates enterprise access to corporate data, has provided us with many new opportunities and we believe we are the front-end front-end adj. 1. Of or relating to the initial phase of a project: a front-end investment. 2. Of or relating to the forward parts of a vehicle: a front-end alignment. tool of choice for these applications. As companies drive decision making throughout the enterprise, BUSINESSOBJECTS A query, reporting and analysis suite of tools from Business Objects that runs under all versions of Windows and various Unix clients. It is the leading decision support tool in the business intelligence market, providing access to a wide variety of databases, including Oracle, INFORMIX empowers end users to make better business decisions." Business Objects is a leading provider of enterprise decision support tools that deliver access to data stored in corporate databases, data warehouses, and packaged applications. The company pioneered the market for business-intelligent decision support tools in 1990 with the introduction of its flagship product A primary product of a company, which is typically why the company was founded and/or what made it well known. For example, MS-DOS, Windows and the Microsoft Office suite have been flagship products of Microsoft. CorelDRAW is a flagship product of Corel Corporation. , BUSINESSOBJECTS, the first decision support tool to use a "semantic layer Semantic Layer The semantic layer is a business representation of corporate data that helps end users access data autonomously using common business terms. Developed and patented by Business Objects, it maps complex data into familiar business terms such as product, " to map complex database schemas The definition of a database. It defines the structure and content in each data element within the structure. Schemas are often designed with visual modeling tools that automatically create the SQL code necessary to define the table structures. See subschema and XML schema. to a business representation understandable by mainstream business users. Business Objects generated over $60M in revenue in 1995, concluding its fifth consecutive year of more than 100% revenue growth. BUSINESSOBJECTS has been licensed in more than 50 countries to over 2,900 customer sites and 160,000 users worldwide. Business Objects partners with more than 350 leading third-party vendors including Arbor Software See Hyperion. , Hewlett-Packard, 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) , Informix, Microsoft, Oracle, PeopleSoft, Prism, Red Brick, Sun, and Sybase. Strategic resellers include Bull, Digital, Fujitsu, NCR (NCR Corporation, Dayton, OH, www.ncr.com) A technology company specializing in financial terminal transactions, retail systems and data warehousing. Until the late 1990s, NCR was heavily invested in the hardware side of the industry, known worldwide as a major manufacturer of computers , Price Waterhouse, Sequent (Sequent Computer Systems, Inc., Beaverton, OR, www.sequent.com) A computer company founded in 1983 by 17 ex-employees of Intel that specialized in multiprocessing systems for the client/server environment. , SHL SHL Shift Logical Left SHL Schweizerische Hochschule für Landwirtschaft (German: Swiss College of Agriculture) SHL Southern Hockey League SHL Silver Haired Legislature SHL Single Hidden Layer (neural networks) , Siemens Nixdorf See Fujitsu Siemens. , Toshiba, and Unisys. More information on Business Objects can be found on the World Wide Web at http://www.businessobjects.com. -0-
Business Objects S.A.
Condensed Consolidated Statements of Operations
(In thousands, except per ADS data)
Three months ended
January 31,
1996 1995
(unaudited)
Revenues:
License fees $ 15,936 $ 9,523
Services 4,230 2,401
Total revenues 20,166 11,924
Cost of revenues:
License fees 643 341
Services 1,319 1,001
Total cost of revenues 1,962 1,342
Gross margin 18,204 10,582
Operating expenses:
Sales and marketing 10,875 6,180
Research and development 2,460 1,579
General and administrative 1,550 1,275
Total operating expenses 14,885 9,034
Income from operations 3,319 1,548
Net interest income and other 632 282
Income before provision for income taxes 3,951 1,830
Provision for income taxes (1,468) (605)
Net income $ 2,483 $ 1,225
Net income per ADS $ 0.29 $ 0.15 ADS's used in calculation of net income per ADS 8,506 8,347
Business Objects S.A.
Condensed Consolidated Balance Sheets
(Thousands)
March 31, Dec. 31,
1996 1995
(unaudited) (a)
Assets Current assets: Cash and short-term investments $ 51,389 $ 46,702 Accounts receivable, net 15,202 17,174 Other current assets 3,089 2,793 Total current assets 69,680 66,669 Property and equipment, net 5,096 3,961 Deposits and other 561 383 Total assets $ 75,337 $ 71,013 Liabilities and shareholders' equity Current liabilities: Accounts payable $ 3,751 $ 3,443 Accrued wages and expenses 5,339 6,660 Deferred revenue 6,915 6,002 Income taxes payable 5,019 3,754 Other current liabilities 5,107 4,572 Total current liabilities 26,131 24,431 Long term debt 88 121 Shareholders' equity 49,118 46,461 Total liabilities and shareholders' equity $ 75,337 $ 71,013 (a) Derived from audited figures CONTACT: Business Objects, Paris Robert P. Verheecke, (33-1) - 41 25 21 21 |
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