Correcting PC DOCS GROUP INTERNATIONAL INC. - FINANCIAL RESULTS (CORRECTION FROM SOURCE).TORONTO--(BUSINESS WIRE)--April 25, 1995--PC DOCS GROUP (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : DXX/NASDAQ: DOCSF)--In BW1174, (PC-DOCS-GROUP) - FINANCIAL RESULTS, an error was made. The corrected release runs below in its entirety The whole, in contradistinction to a moiety or part only. When land is conveyed to Husband and Wife, they do not take by moieties, but both are seised of the entirety. . -0- PC DOCS GROUP INTERNATIONAL INC. MOMENTUM CONTINUES WITH RECORD-SETTING RESULTS (all amounts expressed in Canadian dollars)
Nine Months Nine Months
ended ended
RESULTS FOR THE NINE MONTHS March 31, 1995 March 31, 1994
Unaudited Unaudited
Revenues $ 32,369,000 $19,324,000 Net income(loss) $ 3,407,000 $ (862,000) Earnings (loss) per share - Basic $ 0.28 $ (0.21)(X) - Fully diluted (XX) $ 0.23 $ (0.21)
Three Months Three Months
ended ended
RESULTS FOR THIRD QUARTER March 31, 1995 March 31, 1994
Unaudited Unaudited
Revenues $ 13,154,000 $ 6,859,000 Net income $ 2,020,000 $ 16,000 Earnings (loss) per share - Basic $ 0.17 $ (0.01)(a) - Fully diluted (b) $ 0.13 $ (0.01) (a) Earnings (loss) per share for the three months and nine months March 31, 1994 have been restated to reflect the consolidation of a 4 for 1 basis on April 11, 1994. (b) On February 23, 1995, the Company sold 2,250,000 special $9.8 million, each warrant exercisable on or before June 22, 1995 common share at no additional cost. PC DOCS Group International Inc. today reported financial results for the nine months and three months ended March 31, 1995. Revenues for the nine months ended March 31, 1995 increased 68 percent to $32.4 million, compared to $19.3 million for the same period last year. Net income for the nine months was $3.4 million or $0.28 per share basic, $0.23 per share fully diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. , compared to a net loss of $0.9 million or $0.21 per share in 1994. Revenues for the quarter ended March 31, 1995, reached $13.2 million, an increase of 91 percent over the $6.9 million in the previous year, and an increase of 43 percent over the second quarter revenues of $9.2 million. Net income for the third quarter was $2.0 million or $0.17 per share basic, $0.13 per share fully diluted, compared to essentially breakeven breakeven 1. The level of output or sales necessary to cover fixed expenses. Companies in industries that have high fixed costs and, consequently, high breakevens, such as automobile and steel manufacturing, are likely to exhibit large fluctuations results for the same period last year. Third quarter net income increased 185 percent over the second quarter income of $0.7 million or $0.06 per share basic, $0.05 per share fully diluted. Significant increases in software sales largely accounted for the dramatic increases in revenues for the nine months and quarter ended March 31, 1995. Software sales were $18.8 million for the nine months compared to $8.8 for the same period last year, an increase of 114 percent. Software services and support sales were $10.0 million compared to $8.7 million, and hardware sales were $3.5 million compared to $1.8 million. For the quarter, software sales were $8.0 million compared to $3.6 million, an increase of 122 percent. Software services and support sales were $3.6 million compared to $2.9 million, and hardware sales, at $1.6 million, showed a significant increase over the comparable period's $0.4 million. The gross margin decreased from 88 percent in the second quarter to 76 percent in the third quarter, as a result of the higher percentage of hardware sales. Expenses in the third quarter increased 8 percent compared to the second quarter, a rate well under the 43 percent quarter-to-quarter increase in revenues. PC DOCS, Inc. the company's document management division, continued to post strong record breaking sales with a 155 percent increase for the nine months and a 164 percent increase for the third quarter over last year. PC DOCS OPEN continues to gain worldwide market recognition as the leader in document management. This has translated into the record setting results for the first nine months. The continued penetration of international markets and expansion of the overseas distributor network is meeting with increase success. During the quarter, the Company announced that the Treasury Board Secretariat The Treasury Board Secretariat (TBS) is the administrative branch of the Treasury Board of Canada. The role of the secretariat is to support the Treasury Board as a committee of ministers, and to fulfill the statutory responsibilities of a central government agency. and Department of Finance, Canada both the Canadian Federal Government, and the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. General Accounting Office, purchased PC DOCS OPEN as their enterprise document management systems. The Company also announced that PC DOCS, Inc. and Wang formed a strategic relationship whereby the two companies will cooperate in developing integrated solutions featuring PC DOCS' document management software and Wang's industry-leading imaging and workflow The automatic routing of documents to the users responsible for working on them. Workflow is concerned with providing the information required to support each step of the business cycle. products. Under the terms of the agreement, Wang becomes a Solutions Partner of PC DOCS, with global rights to resell re·sell tr.v. re·sold , re·sell·ing, re·sells 1. To sell again. 2. To sell (a product or service) to the public or to an end user, especially as an authorized dealer. PC DOCS OPEN. PC DOCS, Inc. will team with Wang on opportunities involving document management and integrated production A farming system that produces high quality food and other products by using natural resources and regulating mechanisms to replace polluting inputs and to secure sustainable farming. workflow and imaging. The Company believes that the rapidly expanding market for document management coupled with the position of PC DOCS OPEN as the leader in the market has contributed to the significant growth in sales. PC DOCS, Inc. expects to strengthen its leadership in the document management market with the release of its Apple Macintosh Apple Macintosh - Macintosh version of PC DOCS OPEN in June of 1995. The increasing popularity of PC DOCS OPEN is evidenced in its numerous awards and more specifically in its selection as recipient of three consecutive PC Magazine "Editor's Choice" awards. In April 1995, PC DOCS OPEN also received the top rating in Computerworld's Buyers' Satisfaction Scorecard presented in "The Computerworld Guide to Document Management". CMS/DATA's new Windows software, CMS (1) See content management system and color management system. (2) (Conversational Monitor System) Software that provides interactive communications for IBM's VM operating system. OPEN, is now live at one site, continuing to undergo intensive testing at another site and is expected to go into general release in May 1995. The demand for CMS OPEN continues to be strong and the product is perceived in the market place as being at the forefront of technology and information management systems for the legal profession. CMS OPEN for Windows will support the requirements of most professional organizations through its client server open architecture, SQL SQL in full Structured Query Language. Computer programming language used for retrieving records or parts of records in databases and performing various calculations before displaying the results. relational database relational database Database in which all data are represented in tabular form. The description of a particular entity is provided by the set of its attribute values, stored as one row or record of the table, called a tuple. technology and object oriented See object technology and object-oriented programming. programming language. CMS OPEN provides an open internal environment integrating Financial Management, Case Management and Practice Management. We expect that with the release of CMS OPEN, the backlog of orders should contribute positively to our financial results in the fourth quarter of Fiscal 1995. CompInfo continues to set sales records as more corporate and government organizations recognize the need for its state-of-the-art client/server, SQL based, Corporate LawPack for Windows. Canterbury's Practice Management applications include DocuDraft, Corporate Manager and MarketSense. A Windows version of MarketSense is currently scheduled for release imminently. Quartex' Retail Information System offers a complete solution to retail chains and college bookstores. Quartex also provides custom programming and support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services to their Long-Term Health Care clients. Quartex is the exclusive distributor in Canada for PC DOCS, Inc. and has made PC DOCS OPEN the defacto standard for document management in Canada. PC DOCS Group International Inc. and its subsidiaries The Quartex Corporation, CMS/DATA Corporation, PC DOCS, Inc., CompInfo, Inc., and Canterbury Systems Corp. are suppliers of software and computer systems to business, banks and financial institutions, hospitals, retail and college stores, government agencies and the legal industry in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , England, Europe, Australia and the Far East. CONTACT: Rubin I. Osten, 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. PC DOCS Group International Inc. 416/445-4823 INDUSTRY KEYWORD: COMED ComEd Commonwealth Edison COMED Combined Map and Electronic Display COMPUTERS/ELECTRONICS EARNINGS REPEATS: New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of 212-575-8822 or 800-221-2462; Boston 617-330-5311 or 80 |
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