Consilium Reports Fiscal 1997 Third Quarter Results.MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Aug. 20, 1997-- Consilium, 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 :CSIM CSIM Community Sea Ice Model CSIM Cryogenic Systems Integration Model CSIM C-language-based Simulator CSIM Client Side Image Mapping ), the leading independent supplier of manufacturing execution systems – Manufacturing execution system (MES) describes a set of integrated functions within a packaged software system or it can also describe the accumulated functionality within the production management infrastructure of a manufacturing or production company. (MES (Manufacturing Execution Software) Software that provides real time access to plant activities that include equipment, labor, orders and inventory. An MES integrates the data with enterprise resource planning (ERP) systems so that management has complete control of ) software and services, today reported results for its fiscal 1997 third quarter ended July 31, 1997. Revenues for the fiscal 1997 third quarter were $10,909,000, up 2% from fiscal 1996 third quarter revenues of $10,715,000. Net loss for the fiscal 1997 third quarter was $1,181,000, or $0.15 per share, compared with a net loss for the fiscal 1996 third quarter of $533,000, or $0.07 per share. Commenting on the quarter, Larry Hootnick, Consilium's president and chief executive officer noted, "Overall we made progress, however not as much as we had desired. Semiconductor license revenue was lower than expected primarily affected by the deferral deferral - Waiting for quiet on the Ethernet. of a major opportunity into the fiscal fourth quarter; however, expenses were lower than the fiscal 1997 second quarter." The Semiconductor and Electronics Business Unit revenues for the third quarter of fiscal 1997 grew 17% from the third quarter of fiscal 1996, to $8,875,000, with an operating loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. of $878,000. Edward Norton, Consilium's senior vice president and president of the Company's Semiconductor and Electronics Business Unit, said, "We added seven new sites for a total of twenty-six new sites year to date, a significant achievement given the recent slowdown in new semiconductor facilities. Our new Workstream DFS (Distributed File System) An enhancement to Windows NT/2000 and 95/98 that allows files scattered across multiple servers to be treated as a single group. With Dfs, a network administrator can build a hierarchical file system that spans the organization's LANs and (TM) products announced during the quarter, Consilium's WorkStream DFS: OperatorNT(TM) for fab-wide GUI (Graphical User Interface) A graphics-based user interface that incorporates movable windows, icons and a mouse. The ability to resize application windows and change style and size of fonts are the significant advantages of a GUI vs. a character-based interface. and WorkStream DFS: AutomationNT(TM) for equipment integration, gives us a major step forward in providing complete automation solutions." Norton continued, "Additionally, as previously announced we acquired the major assets of FAST Associates, a Singapore based systems integrator An individual or organization that builds systems from a variety of diverse components. With increasing complexity of technology, more customers want complete solutions to information problems, requiring hardware, software and networking expertise in a multivendor environment. , which we merged with our existing Taiwan and Singapore operations to form a new South Asia This article is about the geopolitical region in Asia. For geophysical treatments, see Indian subcontinent. South Asia, also known as Southern Asia region, comprising of approximately 65 staff, mostly systems integration engineers." Hootnick continued, "I am very pleased with our continued progress in the Healthcare Products and Process Industries Business Unit. We reduced the loss for the fiscal 1997 third quarter to $303,000 on revenues of $2,034,000 as compared to a loss of $709,000 for the same period of fiscal 1996 on higher revenues of $3,143,000. In addition, we have reduced our loss from the fiscal 1997 second quarter by over $1 million." 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. Lloyd Payton, Consilium's senior vice president and president of the Company's Healthcare Products and Process Industries Business Unit, "We added three new sites for a total of six for the year already surpassing the fiscal 1996 total new sites of five. During the quarter we signed a volume purchase agreement with Glaxo Wellcome PLC, starting with one new site and adding users to two existing sites, and we received an order for roll-out licenses from the Schering Plough Research Division in New Jersey. In addition, an initial order was gained from Hoffman-La Roche, Inc. in Nutley, New Jersey, one of Roche's largest galenical ga·len·i·cal n. 1. A medicinal preparation composed mainly of herbal or vegetable matter. 2. A remedy prepared according to an official formula. adj. pharmaceutical manufacturing locations in the world with an implementation effort slated to begin this quarter." Hootnick added, "Our goal is to get to profitability as soon as possible through a combination of cost reductions and revenue increases. This effort coupled with strong investment in new products and automation solutions will drive our efforts for the near term." The Company also separately announced the closing of a $3 million private equity transaction. Forward looking statements in this release relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the implementation of Healthcare Products and Process Industries sites, cost reductions in the Company, and revenue from the Semiconductor and Electronics Business Unit involve a number of uncertainties and risks. Actual events or results could differ materially from such expectations. The factors which could affect results or events include, without limitation, a significant slowdown in capital spending capital spending Spending for long-term assets such as factories, equipment, machinery, and buildings that permits the production of more goods and services in future years. by the semiconductor industry; the inability to reduce overall costs; customer delays in product implementations; the failure of the Company to successfully manage systems integration projects; increased competition; and the high average selling price The average sales price of goods or commodities. Especially used in the retail sector and technology distribution. of the Company's products relative to the number of orders per quarter, coupled with timing of new orders and other risks identified in the Company's Forms 10-K and 10-Q on file with the Securities and Exchange Commission. Consilium is the world's leading independent supplier of integrated manufacturing execution systems (MES) software and services. Integrated MES software monitors and controls every step in the manufacturing process in real time, enabling manufacturers to enhance performance in the areas of cost, quality, customer service and speed. For more than 18 years, Consilium's MES products have been helping world class manufacturers achieve best practices in their manufacturing operations Manufacturing operations concern the operation of a facility, as opposed to maintenance, supply and distribution, health, and safety, emergency response, human resources, security, information technology and other infrastructural support organizations. through better visibility and control of the plant floor. Consilium's customers include such leading companies as GlaxoWellcome, Hewlett-Packard Company, Hyundai Electronics Industries, American Home For the American mortgage lender, see . The American Home is a center of intercultural exchange located in Vladimir, Russia. The home is designed to model a typical American suburban home and its main focus is the ESL school that provides lessons for Russian students. Products - Lederle Laboratories, LG Semicon, SGS-Thomson Microelectronics, Siemens AG Siemens AG German electrical-equipment manufacturer. The first Siemens company, Siemens & Halske, was founded in Berlin in 1847 to build telegraph installations. , United Microelectronics Corporation UMC (United Microelectronics Corporation) was founded as Taiwan's first semiconductor company in 1980 as a spin-off of the government-sponsored institute ITRI. Today, UMC is best known for its merchant foundry business, manufacturing integrated circuits wafers for fabless , Warner Lambert, Eli Lilly and Company Eli Lilly and Company (NYSE: LLY) is a global pharmaceutical company and one of the world's largest corporations. Eli Lilly's global headquarters is located in Indianapolis, Indiana, in the United States. and Winbond Electronics. The Company was founded in 1978 and is headquartered in Mountain View, California For the census-designated place, see Mountain View, Contra Costa County, California. For other places called "Mountain View", see . Mountain View is a city in Santa Clara County, in the U.S. state of California. The city gets its name from the views of the Santa Cruz Mountains. . For more information, visit the Company's website at http://www.consilium.com. -0- NOTE TO EDITORS: Consilium and FlowStream are registered trademarks and WorkStream DFS, WorkSream DFS: OperatorNT and WorkStream DFS: AutomationNT are trademarks of Consilium, Inc. All other names mentioned are trademarks or registered trademarks of their respective owners.
CONSILIUM, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data, unaudited)
Three months ended Nine months ended
July 31, July 31,
1997 1996 1997 1996
REVENUES:
Product 4,420 5,773 11,234 13,965
Services 6,405 4,429 18,826 12,312
Development 84 513 514 1,376
Total revenues 10,909 10,715 30,574 27,653
COST OF REVENUES:
Product 778 1,720 2,483 3,211
Services 3,593 1,888 11,475 4,888
Development - 395 369 1,070
Total cost of revenues 4,371 4,003 14,327 9,169
GROSS MARGIN 6,538 6,712 16,247 18,484
OPERATING EXPENSES:
Research and development 3,015 2,727 9,250 8,008
Selling and marketing 3,483 3,408 10,094 9,751
General and
administrative 1,006 954 2,809 3,010
Total operating expenses 7,504 7,089 22,153 20,769
Loss from operations (966) (377) (5,906) (2,285)
Interest income (expense),
net (68) 51 (75) 277
LOSS BEFORE
INCOME TAX PROVISION (1,034) (326) (5,981) (2,008)
PROVISION FOR INCOME TAXES 147 207 262 579
NET LOSS (1,181) (533) (6,243) (2,587)
NET LOSS PER SHARE (0.15) (0.07) (0.78) (0.33)
SHARES USED IN PER SHARE
CALCULATIONS: 8,018 7,838 7,974 7,773
CONSILIUM, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
July 31, 1997 October 31, 1996
(unaudited) (audited)
ASSETS
Current assets:
Cash and cash equivalents $ 5,474 $ 8,094
Short term investments - 1,000
Accounts receivable, net 14,360 9,139
Other current assets 1,124 1,114
Total current assets 20,958 19,347
Property and equipment (net) 4,510 4,827
Software development costs (net) 2,383 3,094
Goodwill (net) 1,402 1,345
Other assets 406 380
TOTAL ASSETS $ 29,659 $ 28,993
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities
Note payable $ 3,051 $ 1,792
Accounts payable 4,257 4,114
Other current liabilities
and accrued expenses 6,643 4,015
Deferred revenue 8,573 5,694
Total current liabilities 22,524 15,615
Deferred revenue 32 41
TOTAL LIABILITIES 22,556 15,656
STOCKHOLDERS' EQUITY
Total stockholders' equity 7,103 13,337
TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY $ 29,659 $ 28,993
CONTACT: Consilium, Inc. Clifton Wong, 650/691-6346 |
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