DataMirror Announces Preliminary Results For First Quarter Of Fiscal 2004.Business Editors TORONTO--(BUSINESS WIRE)--May 8, 2003 DataMirror (Nasdaq: DMCX; TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension : DMC DMC Devil May Cry (video game) DMC Detroit Medical Center DMC Darryl McDaniels (rapper) DMC Destination Management Company DMC Del Mar College (Corpus Christi, TX) ) today announced preliminary results for the quarter ended April 30, 2003. Revenue for the quarter is expected to be in the range of $13.2 to $13.4 million. GAAP GAAP See: Generally Accepted Accounting Principles GAAP See generally accepted accounting principles (GAAP). net income for the quarter is expected to be between $0.05 and $0.07 per share compared to a loss on the same basis of ($0.08) in the first quarter of fiscal 2003. Guidance for the first quarter of fiscal 2004 was for GAAP earnings of between $0.10 and $0.15 per share. Cash flow from operations Cash flow from operations A firm's net cash inflow resulting directly from its regular operations (disregarding extraordinary items such as the sale of fixed assets or transaction costs associated with issuing securities), calculated as the sum of net income plus noncash expenses for the quarter is expected to exceed $4 million and the cash, cash equivalents and short-term investments balance is expected to increase to over $42 million at the quarter's end. Full financial results for the quarter will be released at the close of business on May 27, 2003. "Revenue in the first quarter did not meet the Company's expectations," said Nigel Stokes, President and Chief Executive Officer. "The revenue momentum we experienced in the fourth quarter of fiscal 2003, was dampened by the effects of the strong Canadian dollar Noun 1. Canadian dollar - the basic unit of money in Canada; "the Canadian dollar has the image of loon on one side of the coin" loonie dollar - the basic monetary unit in many countries; equal to 100 cents , global political uncertainty and weakness in our Asia Pacific operations. Also, several large transactions which had originally been forecast to close within the quarter were delayed beyond the quarter's end. We are encouraged by the fact that despite the pressures on revenue, the Company was able to achieve a profitable quarter and that cash flow continues to be strong. Our business model is sound and we intend to continue to add sales resources to take advantage of the demand for our real-time business solutions." DataMirror will hold a conference call to discuss the contents of this press release at 5:00 p.m. EST today, May 8, 2003. The conference call can be accessed via audio web cast by visiting http://www.datamirror.com. Participants in the conference call are asked to call 1-800-289-0544 at approximately 4:55 p.m. EST on May 8th using reservation number 496839. About DataMirror DataMirror (Nasdaq: DMCX; TSX: DMC), a leading provider of enterprise application integration and resiliency software, gives companies the power to manage, monitor and protect their corporate data in real-time. DataMirror's comprehensive family of LiveBusiness(TM) solutions enables customers to easily and cost-effectively capture, transform and flow data throughout the enterprise. DataMirror unlocks the experience of now(TM) by providing the instant data access, integration and availability companies require today across all computers in their business. 1,700 companies have gone live with DataMirror software including Debenhams, Energis, GMAC GMAC General Motors Acceptance Corporation GMAC Graduate Management Admission Council GMAC Give Me A Call GMAC Genetic Manipulation Advisory Committee GMAC Genetic Modification Advisory Committee (Singapore) GMAC Give Me A Chance Commercial Mortgage, the London Stock Exchange London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. , OshKosh B'Gosh OshKosh B'Gosh is a children's apparel company founded in Oshkosh, Wisconsin in 1895. Originally a small-town manufacturer of adult work clothing, it has become best known for its children's clothing, especially bib overalls. , Priority Health, Tiffany & Co., and Union Pacific Railroad Union Pacific Railroad, transportation company chartered (1862) by Congress to build part of the nation's first transcontinental railroad line. Under terms of the Pacific Railroads Act, the Union Pacific was authorized to build a line westward from Omaha, Nebr. . DataMirror is headquartered in Toronto, Canada, and has offices around the globe. For more information, visit www.datamirror.com. "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Statement under 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. Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: Forward-looking statements in this press release, including statements regarding DataMirror Corporation's business which are not historical facts, are made pursuant to the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements of estimates, expectations, objectives and plans (financial and otherwise). The words "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Numerous factors affect DataMirror's operating results and could cause DataMirror's actual results to differ materially from the results indicated by this press release or by any forward-looking statements made by, or on behalf of, DataMirror, and there can be no assurance that future results will meet expectations, estimates or projections. These factors include, but are not limited to, the following: variability of quarterly operating results; dependence upon the continued growth and success of DataMirror's software products; competition; the ability to develop, market, support and acquire new products in an environment of rapidly changing technology; dependence upon continued growth in the database and enterprise data integration markets; dependence upon relationships with complementary vendors and distribution channels; the ability to recruit and retain key personnel; risks of international operations Internal Operations (I.O., IO or I/O) is a fictional American Intelligence Agency in Wildstorm comics. It was originally called International Operations. I.O. first appeared in WildC.A.T.S. volume 1 #1 (August, 1992) and was created by Brandon Choi and Jim Lee. , currency exchange rate fluctuations and global economic conditions; possible software errors or defects; possible infringement claims by third parties; and other factors discussed in the Company's Annual Information Form and other periodic filings with the United States Securities and Exchange Commission and other regulatory authorities. Copyright (C) 2003 DataMirror Corporation. All rights reserved. DataMirror, LiveBusiness and The experience of now are trademarks or registered trademarks of DataMirror Corporation. All other brand or product names are trademarks or registered trademarks of their respective companies. |
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