DataMirror Continues Strong Growth For 1997 Third Quarter.TORONTO--(BUSINESS WIRE)--Nov. 5, 1997--(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :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) ) DataMirror Corporation, a leading provider of data movement, transformation and replication In database management, the ability to keep distributed databases synchronized by routinely copying the entire database or subsets of the database to other servers in the network. There are various replication methods. software, today announced its results for the three months ended September 30, 1997. Third quarter revenue was $5,703,000, an increase of 82 percent over the 1996 comparative quarter and the highest quarterly revenue ever reported by the Company. Net income for the 1997 third quarter was $250,000 or $0.03 per share compared to net income of $282,000 or $0.04 per share for the same quarter last year. Weighted average common shares outstanding for the third quarter were 8,642,000 as compared to 7,226,000 for the same quarter in 1996. Revenue for the nine months ended September 30, 1997 was $14,243,000 compared to $5,747,000 for the same period last year, an increase of 148 percent. For the nine months ended September 30, 1997, the Company reported net income of $186,000 or $0.02 per share compared to net income of $685,000 or $0.10 per share for the corresponding period in 1996. Weighted average common shares outstanding for the nine months ended September 30, 1997 were 8,642,000 as compared to 6,717,000 for the same period in 1996. "We retained our strong momentum through the quarter with the Company achieving its highest quarterly revenue," said Nigel Stokes Stokes , William 1804-1878. British physician. Known especially for his studies of diseases of the chest and heart, he expanded on the observations of John Cheyne in describing the breathing irregularity now known as Cheyne-Stokes respiration. , Chairman and Chief Executive Officer. "We were successful in seeding our technology into many large enterprises around the world. During the quarter, we sold 372 licenses bringing our total since early 1995 to 1,640 licenses. We also added 89 new customers. Over 420 customers have now purchased our products." "Our success continues to be based on the efficient and effective movement of data between various production, back-up and warehouse data stores. Transformation Server utilities enable customers to utilize production system data using newer technologies such as data mining and business intelligence tools. The production systems are not changed or altered in any way. But the data from these production systems can be captured, changed and stored in new formats which are more informative to end users and compatible with databases designed for query access. Also, obscure codes and naming conventions
"Our product also allows data to be copied, transformed and moved between different software and hardware platforms Each hardware platform, or CPU family, has a unique machine language. All software presented to the computer for execution must be in the binary coded machine language of that CPU. Following is a list of the major hardware platforms in existence today. See platform. . In the fourth quarter we will significantly enhance our mid-range product line by shipping Transformation Server for Oracle running on Sun, Hewlett-Packard and IBM machines. This product will allow replication and transformation of data among Oracle databases as well as between Oracle databases and IBM AS/400 and Windows NT (Windows New Technology) A 32-bit operating system from Microsoft for Intel x86 CPUs. NT is the core technology in Windows 2000 and Windows XP (see Windows). Available in separate client and server versions, it includes built-in networking and preemptive multitasking. environments. New targets for our SQL Windows See SQLWindows. NT source product will also be released before the year end." Recently, the Company announced the release of two new products for high availability Also called "RAS" (reliability, availability, serviceability) or "fault resilient," it refers to a multiprocessing system that can quickly recover from a failure. There may be a minute or two of downtime while one system switches over to another, but processing will continue. applications on the IBM AS/400. ObjectMirror provides real-time 1. real-time - Describes an application which requires a program to respond to stimuli within some small upper limit of response time (typically milli- or microseconds). Process control at a chemical plant is the classic example. , bi-directional replication of non-data objects between multiple AS/400 production machines or to a fail-safe system to provide fault-tolerance and back-up and recovery. SwitchOver switch·o·ver n. A complete shift, as from one system to another. System can quickly and efficiently switch production systems to a back-up system for planned or unplanned outages. An office in Paris was recently established to support expansion in France. The Company continued to increase its distribution channels by adding direct sales resource and new value added resellers See VAR. (company) value added reseller - (VAR, or "value added retailer") A company which sells something (e.g. computers) made by another company (an OEM) with extra components added (e.g. specialist software). . New customers for the quarter included Automotive Products Limited, Bunzl USA, Inc., Burmah Castrol Trading Limited Trading limit The exchange-imposed maximum daliy price change that a futures contract or futures option contract can undergo. trading limit The number of commodity contracts that a person may trade during a single day. , Cable London plc, Centex Home Equity Corporation, Colgate Palmolive (Mexico), Crown Crafts, Inc., Delta Engineering Holdings Limited, GE Capital, K & K Insurance Group, Inc., Keane, Inc., Maple Leaf Foods Maple Leaf Foods TSX: MFI is a major Canadian food processing company. The company was originally known as Maple Leaf. It was founded in 1927 as a merger of several major Toronto meat packers, most prominently William Davies Co. Limited, Nissan Finance (GB) Limited, MSAS (Multi-functional Transport Satellite-based Augmentation System) A Japanese system of earth stations and satellites that improves the tracking accuracy of the GPS navigation system down to approximately six feet. Cargo International Limited, Perez Companc Perez Companc could refer to
Canada's central bank, established under the Bank of Canada Act (1934). It was founded during the Great Depression to regulate credit and currency. The Bank acts as the Canadian government's fiscal agent and has the sole right to issue paper money. (UK), Slim Fast Slim-Fast is a brand of shakes, bars, snacks, packaged meals, and other dietary supplement foods sold in the U.S., U.K., Ireland, Canada, France, Germany, the Netherlands, Brazil and Mexico by Unilever. Slim Fast promotes diets and weight loss plans featuring its food products. Foods Company, Springs Window Fashions, Inc., Unipart Industries Limited and Universal/MCA Studios. At the IBM Fall Common Conference and Expo in San Antonio, Texas “San Antonio” redirects here. For other uses, see San Antonio (disambiguation). San Antonio is the second most populous city in Texas, the third most populous metropolitan area in Texas, and is the seventh most populous city in the United States. As of the 2006 U.S. , DataMirror was honoured to receive the 1997 Midrange midrange Epidemiology The halfway point or midpoint in a set of observations; for most data, MR is calculated as the sum of the smallest observation and the largest observation, divided by 2; for age data, one is added to the numerator; a midrange is usually Systems Buyers Choice Award as the best data replication product. The Buyers Choice Awards is an annual competition open to all third-party vendors of IBM midrange computing computing - computer products. Winners were selected on the basis of ballots cast by current audited subscribers to Midrange Systems magazine. During the quarter, the Company issued 1,600,000 special warrants for proceeds of $15,730,000, net of related issue costs. These funds will be used to finance the Company's expansion of its direct sales capacity and other distribution channels as well as for the development of new and enhanced software products. About DataMirror Corporation DataMirror's software products deliver quick, cost efficient, programming-free transformation and replication that enable organizations to move data from where it is to where it needs to be. DataMirror's award winning products are ideally suited for business applications such as building and replenishing data warehouses, data and workload The term workload can refer to a number of different yet related entities. An amount of labor While a precise definition of a workload is elusive, a commonly accepted definition is the hypothetical relationship between a group or individual human operator and task demands. distribution, high availability, custom application development, workload balancing and Internet commerce. DataMirror, headquartered in Markham, Ontario Markham (2006 Population 261,573[0]) is located in York Region, directly north of Toronto, and is part of Toronto's CMA. It is larger than many Canadian cities. Despite its qualifications regarding population, it has not had the title of city conferred upon it by the , Canada, markets and supports its products worldwide. DataMirror's common shares trade on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under the symbol DMC. Visit our web site at http://www.datamirror.com . -0- Note to Editors: DataMirror, Transformation Server, ObjectMirror and SwitchOver System are trademarks of DataMirror Corporation. IBM and AS/400 are registered trademarks of International Business Machines. Microsoft and Windows NT are either registered trademarks or trademarks of Microsoft Corporation (company) Microsoft Corporation - The biggest supplier of operating systems and other software for IBM PC compatibles. Software products include MS-DOS, Microsoft Windows, Windows NT, Microsoft Access, LAN Manager, MS Client, SQL Server, Open Data Base Connectivity (ODBC), MS Mail, . All other products and services listed herein are trademarks of their respective companies. -0-
DataMirror Corporation
Consolidated Statements of Income and Retained Earnings
(Thousands of CDN$, except per share data - unaudited)
Three Months Ended Nine Months Ended
September 30, September 30,
------------------ -----------------
1997 1996 1997 1996
------------------ -----------------
Revenue $5,703 $3,142 $14,243 $5,747
Direct costs 204 334 759 521
------------------ -----------------
Gross margin 5,499 2,808 13,484 5,226
------------------ -----------------
Operating expenses:
Selling and
marketing 3,536 1,530 8,854 2,628
Research and
development 671 270 1,898 577
General and
administration 855 658 2,413 1,213
------------------ -----------------
5,062 2,458 13,165 4,418
------------------ -----------------
Operating income 437 350 319 808
Interest income
(expense) 37 (49) 67 (41)
------------------ -----------------
Income before income
taxes 474 301 386 767
Income tax expense 224 19 200 82
------------------ -----------------
Net income 250 282 186 685
Retained earnings
(deficit)-
Beginning of period 502 (38) 566 (441)
------------------ -----------------
End of period $752 $244 $752 $244
------------------ -----------------
------------------ -----------------
Basic earnings per
share $0.03 $0.04 $0.02 $0.10
Weighted average
number of shares
(000's) 8,642 7,226 8,642 6,717
DataMirror Corporation
Consolidated Balance Sheets
(Thousands of CDN$ - unaudited)
September 30, December 31,
1997 1996
Assets ------------ -------------
Current assets:
Cash and short-term
investments (note) $20,700 $9,487
Accounts receivable 9,268 5,272
Investment tax credits recoverable 1,138 1,027
Prepaid expenses 796 674
------------ -------------
31,902 16,460
Fixed assets 2,468 2,194
Goodwill 951 1,033
------------ -------------
$35,321 $19,687
------------ -------------
------------ -------------
Liabilities
Current liabilities:
Accounts payable and accrued
liabilities $1,504 $2,072
Deferred revenue 1,356 806
Loan payable - 500
Current portion of long term-debt 71 -
Current portion of capital lease
obligations 559 471
------------ -------------
3,490 3,849
Long-term debt 124 -
Capital lease obligations 795 855
------------ -------------
4,409 4,704
------------ -------------
Shareholders' Equity
Share capital (note) 29,972 14,242
Contributed surplus 242 242
Cumulative translation adjustment (54) (67)
Retained earnings 752 566
------------ -------------
30,912 14,983
------------ -------------
$35,321 $19,687
------------ -------------
------------ -------------
Note: On September 3, 1997, the Company issued 1,600,000 special warrants for net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). of $15,730,000. As at September 30, 1997, the net proceeds were held in escrow escrow Instrument, such as a deed, money, or property, that constitutes evidence of obligations between two or more parties and is held by a third party. It is delivered by the third party only upon fulfillment of some condition. pending the filing of a final prospectus Final Prospectus A legal document stating the price of a newly issued security, the delivery date, and other facts that are important for investors. Notes: The final prospectus must be given to every investor who purchases a new issue of registered securities. . This document has been filed, and the net proceeds were released to the Company on October 20, 1997. The special warrants were subsequently converted into 1,600,000 common shares. -0-
DataMirror Corporation
Consolidated Statements of Changes in Financial Position
(Thousands of CDN$ - unaudited)
Three Months Ended Nine Months Ended
September 30, September 30,
------------------- ------------------
1997 1996 1997 1996
-------- ------- ------- -------
Cash provided by
(used in):
Operating activities-
Net income $250 $282 $186 $685
Add items not affecting
cash:
Depreciation of fixed
assets 198 79 556 123
Amortization of
goodwill 27 28 82 35
Deferred income taxes 273 19 241 82
------- ------- ------- -------
748 408 1,065 925
Changes in non-cash working
capital balances (1,968) (746) (4,492) (1,736)
------- ------- ------- -------
(1,220) (338) (3,427) (811)
------- ------- ------- -------
Investing activities-
Fixed asset additions (124) (790) (841) (1,283)
Net assets acquired
(net of cash) (596) (596)
------- ------- ------- -------
(124) (1,386) (841) (1,879)
------- ------- ------- -------
Financing activities-
Repayments to
shareholders (86) (176)
Net increase (decrease)
in long-term debt (18) 429 (305) 412
Net increase (decrease)
in lease obligations (86) 449 32 688
Issue of share capital 15,730 2,643 15,730 2,643
Shares purchased for
cancellation (500) (500)
------- ------- ------- -------
15,626 2,935 15,457 3,067
------- ------- ------- -------
Cumulative translation
adjustment 24 (11) 24 (11)
------- ------- ------- -------
Increase in cash and
short-term investments 14,306 1,200 11,213 366
Cash and short-term
investments-
Beginning of period 6,394 1,182 9,487 2,016
------- ------- ------- -------
End of period $20,700 $2,382 $20,700 $2,382
------- ------- ------- -------
------- ------- ------- -------
CONTACT: DataMirror Corporation -- Investor Relations Investor relations The process by which the corporation communicates with its investors. : Ron Peters, 905/415-0310 ext. 290 or Maria Kardaris, 905/415-0310 ext. 284 investors@datamirror.com or DataMirror Corporation -- Public Relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most Barbara Wood Barbara Wood (b. June 30, 1947 in Lancashire, England) is an American writer of historical -romance novels. Biography Barbara Wood was born June 30, 1947 in Lancashire, England. Her family moved to California where she grew up. , 905/415-0310 ext. 233 bwood@datamirror.com or Sheryl Kingstone, 508/877-8783 skingstone@datamirror.com |
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