DOCUMENTUM announces record revenues for first quarter 1997; Enterprise deployments and new Web products drive growth.PLEASANTON Pleasanton, city (1990 pop. 50,553), Alameda co., W Calif., a suburb of the San Francisco–Oakland area, in a vineyard and dairy region; inc. 1894. Wine and cheese are produced, and there are publishing and stone-quarrying industries. , Calif.--(BUSINESS WIRE)--April 16, 1997--DOCUMENTUM, 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 :DCTM), the recognized leader in enterprise document management solutions for client/server An architecture in which the user's PC (the client) is the requesting machine and the server is the supplying machine, both of which are connected via a local area network (LAN) or wide area network (WAN). and Web environments, today announced record revenues for the first quarter ended March 31, 1997. Revenues for the first quarter of 1997 were $15.0 million, a 73 percent increase over revenues of $8.7 million for the same period of 1996. Included in these first quarter revenues was $5 million in product licenses from one major customer. This represents the largest single transaction in DOCUMENTUM's history and further demonstrates the enterprise scalability How much a system can be expanded. See scalable. scalability - How well a solution to some problem will work when the size of the problem increases. For example, a central server of some kind with ten clients may perform adequately but with a thousand clients it of the Company's offering. Net income for the first quarter increased to $1.1 million compared with net income of $532,000 reported for the same period of 1996. Earnings per share grew 100 percent to $.08 in the first quarter, up from $.04 for the first quarter of 1996. "DOCUMENTUM Documentum is an enterprise content management platform, now delivered by EMC Corporation, as well as the name of the software company that originally developed the technology. EMC acquired Documentum for $1.7 billion in December, 2003. is focused on providing products and services that address the business-critical applications of our Global 1000 customers. This focus continued to drive enterprise deployments and further differentiated dif·fer·en·ti·ate v. dif·fer·en·ti·at·ed, dif·fer·en·ti·at·ing, dif·fer·en·ti·ates v.tr. 1. To constitute the distinction between: us from our competition in the first quarter of 1997," said Jeffrey A. Miller, 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. of DOCUMENTUM, Inc. "Customer acceptance has been outstanding for our new products, including the RightSite Web content management family and DOCUMENTUM DocLink for SAP's R/3. Through products such as these, we're we're Contraction of we are. we're we are providing compelling functionality on the right platforms to cost-effectively solve our customers' problems." In addition to historical information contained herein, this news 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. that involve risks and uncertainties. The Company's future actual results could differ materially from the forward-looking statements discussed herein. Factors that could cause or contribute to such differences include, but are not limited to, those discussed from time to time in the Company's public reports filed with the Securities and Exchange Commission, such as those discussed under "Risk Factors" included in the Company's annual report 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. for the year ended December December: see month. 31, 1996. About DOCUMENTUM DOCUMENTUM (http://www.documentum.com) develops, markets and supports a family of enterprise document management products that improve the effectiveness of the organization based on a company's business-critical information and proven processes. Headquartered in Pleasanton, Calif., DOCUMENTUM sells its products and services worldwide through a direct sales force, systems integrators 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. , and affiliated af·fil·i·ate v. af·fil·i·at·ed, af·fil·i·at·ing, af·fil·i·ates v.tr. 1. To adopt or accept as a member, subordinate associate, or branch: distributors. DOCUMENTUM is the recognized leader in the document management market, with global customers in the pharmaceutical, process manufacturing The manufacturing industry that uses process control systems. See process control. , computers/electronics and finance industries. -0- NOTE TO EDITORS: DOCUMENTUM is a registered trademark of DOCUMENTUM, Inc. RightSite and DOCUMENTUM DocLink for SAP's R/3 are trademarks of DOCUMENTUM, Inc. -0-
DOCUMENTUM, Inc.
Condensed Consolidated Statement of Operations
(in thousands, except per share data; unaudited)
Three Months Ended
March 31,
-----------------
1997 1996
------- -------
Revenues:
Licenses $11,062 $ 6,988
Services 3,975 1,694
Total revenues 15,037 8,682
Cost of revenues:
Licenses 386 503
Services 2,490 1,176
Total cost of revenues 2,876 1,679
Gross profit 12,161 7,003
Operating expenses:
Sales and marketing 7,285 4,022
Research and development 2,298 1,541
General and administrative 1,304 959
Total operating expenses 10,887 6,522
Income from operations 1,274 481
Interest and other income, net 445 338
Income before income tax provision 1,719 819
Provision for income taxes (602) (287)
Net income $ 1,117 $ 532
Net income per share $ 0.08 $ 0.04
Shares used to compute net income per share 14,880 14,132
DOCUMENTUM, Inc.
Condensed Consolidated Balance Sheets
(in thousands, unaudited)
March 31, Dec. 31,
1997 1996
-------- -------
ASSETS
Current assets:
Cash and cash equivalents $13,904 $ 5,369
Short-term investments 43,629 46,803
Accounts receivable, net of allowances 11,104 13,531
Other current assets 1,801 1,519
Total current assets 70,438 67,222
Property and equipment, net 6,805 6,339
Other assets 1,473 1,383
------- -------
$78,716 $74,944
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable $ 1,206 $ 1,488
Accrued liabilities 9,051 8,124
Deferred revenue 7,119 4,956
Current portion of long term obligations 683 833
Total current liabilities 18,059 15,401
Long term obligations, less current portion 129 211
Stockholders' equity 60,528 59,332
------- -------
$78,716 $74,944
CONTACT: DOCUMENTUM, Inc. Mark Garrett See also: All pages beginning with Garrett Garrett is a masculine Irish, and Anglo-Saxon first name, or surname meaning "Lord of the spear", "spear brave" or "spear wielder". , 510/463-6800 inv.rel@DOCUMENTUM.com |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion