Documentum Announces Record Third Quarter 1996 Results; Corporate Strategy Continues to 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)--Oct. 16, 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. (tm), 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) today announced record revenues and net income for the third quarter and nine months ended September September: see month. 30, 1996. Revenues for the third quarter of 1996 were $12.0 million, a 72 percent increase over revenues of $7.0 million for the same period of 1995. Net income for the third quarter increased to $1.4 million compared with net income of $381,000 reported for the same period of 1995. Earnings per share grew 200 percent to $.09 in the third quarter, up from $.03 for the third quarter of 1995. For the first nine months of 1996, revenues were $30.9 million, a 78 percent increase over revenues of $17.4 million for the same period of 1995. Net income for the first nine months of 1996 was $2.8 million, or $.19 per share, up from $746,000, or $.06 per share for the same period of 1995. "We continue to see payoffs from our corporate strategy of focusing on business-critical applications in Global 1000 companies," 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. "By focusing on specific vertical markets, we have been able to meet the enterprise needs of both existing and new customers with innovative products and strategic partnerships. "Documentum RightSite(tm), our new Web content management product family, is aimed at enabling our customers to deploy industrial-grade Web solutions. On the partnership front, we extended the value we provide to both process and discrete manufacturing Fabricating products by assembling components and subsystems into larger systems. The automated assembly line is the prime example of discrete manufacturing such as in the making of automobiles, household appliances and computer systems. companies by announcing partnerships with Autodesk (Autodesk, Inc., San Rafael, CA, www.autodesk.com) A leading provider of computer-aided design (CAD) software, founded in 1982. It introduced AutoCAD in its first year, and three years later, became the first PC CAD company to go public. and ConsenSys, as well as SAP's certification of our integration to R/3." 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 "Factors That May Affect Future Results" included in the Company's report on Form 10-Q Form 10-Q See 10-Q. for the quarter ended June June: see month. 30, 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, California Pleasanton, nicknamed "P-town"<ref name="">Ptown (Pleasanton) Bike Advocates Meeting, East Bay Bicycle Coalition website, August 14, 2007, retrieved August 17, 2007, is a city in Alameda County, California and was incorporated in 1894. , Documentum sells its products and services 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 distributors in the U.S., Canada Canada (kăn`ədə), independent nation (2001 pop. 30,007,094), 3,851,787 sq mi (9,976,128 sq km), N North America. Canada occupies all of North America N of the United States (and E of Alaska) except for Greenland and the French islands of , Europe Europe (y  r`əp), 6th largest continent, c.4,000,000 sq mi (10,360,000 sq km) including adjacent islands (1992 est. pop. 512,000,000). , Australia Australia (ôstrāl`yə), smallest continent, between the Indian and Pacific oceans. With the island state of Tasmania to the south, the continent makes up the Commonwealth of Australia, a federal parliamentary state (2005 est. pop. , and
Japan.
Documentum is the recognized leader in the document management market, with worldwide customers in the pharmaceutical, process manufacturing The manufacturing industry that uses process control systems. See process control. , computers/electronics, and finance industries. -0-
Documentum, Inc.
Condensed Consolidated Balance Sheets
(in thousands, unaudited)
September 30, December 31,
1996 1995
ASSETS
Current assets:
Cash and cash equivalents $ 8,139 $ 5,978
Short-term investments 46,836 -
Accounts receivable, net of allowances 7,479 6,073
Other current assets 948 738
Total current assets 63,402 12,789
Property and equipment, net 5,287 3,201
Other assets 406 511
$ 69,095 $ 16,501
LIABILITIES, MANDATORILY REDEEMABLE CONVERTIBLE
PREFERRED STOCK AND STOCKHOLDERS' EQUITY/DEFICIT
Current liabilities:
Accounts payable $ 1,072 $ 564
Accrued liabilities 6,810 4,693
Deferred revenue 3,865 2,164
Current portion of long term obligations 898 744
Total current liabilities 12,645 8,165
Long term obligations, less current portion 344 691
Mandatorily redeemable convertible preferred
stock -- 13,391
Stockholders' equity/(deficit) 56,106 (5,746)
$ 69,095 16,501
Documentum, Inc.
Condensed Consolidated Statement of Operations
(in thousands, except per share data; unaudited)
Three Months Ended Nine Months Ended
September 30, September 30,
1996 1995 1996 1995
Revenues:
Licenses $9,127 $5,615 $23,768 $13,930
Services 2,909 1,391 7,157 3,425
Total revenues 12,036 7,006 30,925 17,355
Cost of revenues:
Licenses 476 242 1,397 829
Services 1,732 932 4,652 2,302
Total cost of revenues 2,208 1,174 6,049 3,131
Gross profit 9,828 5,832 24,876 14,224
Operating expenses:
Sales and marketing 5,159 3,356 13,765 8,744
Research and development 2,175 1,327 5,504 3,069
General and administrative 1,074 724 2,951 1,607
Total operating
expenses 8,408 5,407 22,220 13,420
Income from operations 1,420 425 2,656 804
Interest and other income, net 660 83 1,577 191
Income before income tax
provision 2,080 508 4,233 995
Provision for income taxes (728) (127) (1,482) (249)
Net income $1,352 $ 381 $2,751 $ 746
Net income per share $ 0.09 $ 0.03 $ 0.19 $ 0.06
Shares used to compute
net income per share 14,923 12,934 14,664 12,934
CONTACT: Documentum, Inc. Alan S. Henricks, 510/463-6800 inv.rel@documentum.com |
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