Computron Software Reports First Quarter Results.RUTHERFORD Rutherford (rŭth`ərfərd), borough (1990 pop. 17,790), Bergen co., NE N.J., a residential suburb of the New York City–N New Jersey metropolitan area; inc. 1881. Several pre-Revolutionary houses remain there. , N.J.--(BUSINESS WIRE)--April 30, 1999-- Computron computron - /kom'pyoo-tron"/ 1. A notional unit of computing power combining instruction speed and storage capacity, dimensioned roughly in instructions-per-second times megabytes-of-main-store times megabytes-of-mass-storage. Software, Inc. (AMEX AMEX See: American Stock Exchange : CFW CFW Custom Firmware CFW Call Forward CFW Cystic Fibrosis Worldwide CFW Cache Fast Write CFW Citizens for Florida's Waterways CFW Center for Writing (education) CFW Continuous Fillet Weld (engineering) ) today reported its financial results for the quarter ended March 31, 1999. The Company reported first quarter revenues of $15.8 million, an increase of 5.1 percent from $15.0 million for the same quarter last year. The Company reported operating and net losses for the quarter of $461,000 and $544,000, compared to operating and net losses of $4.3 million and $4.2 million, respectively, for the same period in 1998. Commenting on the results, Chief Executive Officer, John Rade John Rade, (born August 31, 1960, in Ceres, California) was a linebacker in the NFL from 1983 to 1991. noted, "Computron is pleased with the increase in total revenues, the license revenue activity during the quarter, as well as the 16% decrease in operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. resulting in significantly improved operating results." New customer contracts signed during the first quarter included Bulgarian Railways, NADA (National Automobile Dealers Association), Fine Air Services, Inc., Liberty House, and Perpetual Trustees  This article or section is written like an .Please help [ rewrite this article] from a neutral point of view. Mark blatant advertising for , using . . Computron Software, Inc. Background Information Founded in 1978, Computron Software, Inc. (AMEX: CFW) is a global provider of application software solutions for business and finance. In use by more than 500 companies worldwide, these solutions automate To turn a set of manual steps into an operation that goes by itself. See automation. business processes across the enterprise and provide competitive advantage through the exploitation of financial knowledge. For further information on Computron, its products, services, and customers, visit the Computron web site at http://www.computronsoftware.com
COMPUTRON SOFTWARE, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
Unaudited
Three months ended March 31,
1998 1999
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Revenues:
License fees $ 4,019 $ 3,517
Services 11,004 12,270
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Total revenues 15,023 15,787
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Operating expenses:
Cost of license fees 1,014 662
Cost of services 7,422 6,828
Sales and marketing 4,355 3,270
Research and
development 2,902 2,071
General and
administrative 3,645 3,417
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Total operating
expenses 19,338 16,248
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Operating loss (4,315) (461)
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Other income (expense):
Costs related to class
action litigation (22) -
Interest income 128 38
Interest expense (12) (105)
Other income (expense) 16 (16)
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Other income (expense), net 110 (83)
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Net loss $ (4,205) $ (544)
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Basic and diluted net
loss per common share $ (0.18) $ (0.02)
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Weighted basic and diluted
common shares outstanding shares 23,777 23,914
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The unaudited consolidated financial information included in this document is intended only as a summary provided for your convenience, and should be read in conjunction with the complete consolidated financial statements Consolidated Financial Statements The combined financial statements of a parent company and its subsidiaries. Notes: Because consolidated financial statements present an aggregated look at the financial position of a parent and its subsidiaries, they enable you to gauge of the Company (including the Notes thereto there·to adv. 1. To that, this, or it. 2. Archaic In addition to that; furthermore. thereto Adverb Formal 1. to that or it 2. , which set forth important information) contained in its Reports 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. and 10-Q filed by the Company with the U.S. Securities and Exchange Commission (SEC). Such reports are available on the public EDGAR Edgar or Eadgar (both: ĕd`gər), 943?–975, king of the English (959–75), son of Edmund, king of Wessex. In 957 the Mercians and Northumbrians rebelled against Edgar's brother Edwy and chose Edgar as their king. electronic filing system maintained by the SEC. This press release contains 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. . Such statements are only predictions, and actual events or results may differ materially. All forward-looking statements involve risks and uncertainties, including, without limitation, the risks detailed in the Company's documents and reports filed from time to time with the Securities and Exchange Commission. |
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