DENDRITE REPORTS REVENUE AND EARNINGS FOR SECOND QUARTER 1995.MORRISTOWN Morristown. 1 Town (1990 pop. 16,189), seat of Morris co., N N.J., on the Whippany River; settled c.1710, inc. 1865. Although chiefly residential, it has diverse manufactures, including electronic products, health and beauty aids, auto parts, and , N.J.--(BUSINESS WIRE)--August 1, 1995--Dendrite International, 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 : DRTE DRTE Defence Research Telecommunications Establishment ), which completed its initial public offering on June June: see month. 30, 1995, today reported its second quarter results. For the three months ended June 30, 1995, revenue of $ 12.6 million, up 36% from $9.3 million in the second quarter of 1994. Net income was $919,000, or $0.10 per share, in the same period, versus $177,000, or $0.02 per share, in the same period last year. Year-to-date Year-to-date (YTD) The period beginning at the start of the calendar year up to the current date. revenue was up 47% to $23.8 million versus $16.2 million in the first six months of 1994. Net income in the first half of 1995 was $1.2 million, or $0.12 per share, compared to a net loss of $132,000, or $0.01 per share, a year ago. Commenting on the results, John Bailye, Chairman 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. , said "We remain pleased with our progress, and the strong first half is indicative indicative: see mood. of continual maturing of the Dendrite dendrite: see nervous system; synapse. business model". Dendrite International, Inc. provides comprehensive Electronic Territory Management solutions used to manage, coordinate Belonging to a system of indexing by two or more terms. For example, points on a plane, cells in a spreadsheet and bits in dynamic RAM chips are identified by a pair of coordinates. Points in space are identified by sets of three coordinates. and control the activities of large sales forces in complex selling environments. These solutions provide customers with the means for more efficient management of their sales forces, improved operation and maintenance of customer sales and market research databases and more effective sales and marketing decision support tools. -0-
Dendrite International, Inc.
Consolidated Statements of Operations
(in thousands, except per share data)
(unaudited)
Three Months Six Months
Ended June 30, Ended June 30,
1995 1994 1995 1994
REVENUES: % % % %
License Fees $1,312 10.4 $1,454 15.7 $2,342 9.9 $1,872 11.5
Services 11,290 89.6 7,826 84.3 21,433 90.1 14,362 88.5
------ ----- ------ ------
12,602 100 9,280 100 23,775 100 16,234 100
COSTS AND EXPENSES:
Cost of License
Fees 88 6.7 362 24.9 214 9.1 724 38.7
Cost of Services 4,991 44.2 3,497 44.7 9,658 45.1 6,712 46.7
----- ----- ----- ------
5,079 40.3 3,859 41.6 9,872 41.5 7,436 45.8
Gross Margin 7,523 59.7 5,421 58.4 13,903 58.5 8,798 54.2
Operating expenses:
Selling, general
and administrative 5,000 39.7 4,222 45.5 10,112 42.5 7,590 46.7
Research and
development 1,131 9.0 782 8.4 1,964 8.3 1,310 8.1
------ ----- ------ -----
6,131 48.7 5,004 53.9 12,076 50.8 8,900 54.8
Operating
Income (Loss) 1,392 11.0 417 4.5 1,827 7.7 (102) (0.6)
Interest expense 5 0.0 9 0.1 5 0.0 21 0.1
Other expense (income) (147) (1.2) 111 1.2 (175) (0.7) 98 0.6 Income (Loss) before income taxes 1,534 12.2 297 3.2 1,997 8.4 (221) (1.4) Income Taxes (Benefit) 615 4.9 120 1.3 800 3.4 (89) (0.6) Net Income (Loss) $919 7.3 $177 1.9 $1,197 5.0 ($132) (0.8) Net Income (Loss) per share $0.10 $0.02 $0.12 ($0.01) Shares used in computing net income (loss) per share 9,610 9,487 9,615 8,978 CONTACT: Dendrite International, Inc., Morristown John Bailye, CEO, 201-425-2111 or Chuck chuck a hand grip to be attached to intramedullary pins to enable the surgeon to rotate or drive them into bone. Warczakowski, VP Finance 201-425-2115 |
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