Printer Friendly

EXCALIBUR TECHNOLOGIES ANNOUNCES FISCAL YEAR 1992 OPERATING RESULTS

 EXCALIBUR TECHNOLOGIES ANNOUNCES FISCAL YEAR 1992 OPERATING RESULTS
 MCLEAN, Va., April 3 /PRNewswire/ -- Excalibur Technologies Corporation (NASDAQ: EXCA) today reported a net loss for the fiscal year ended Jan. 31, 1992, of $3.9 million or $0.53 per share. This compares to the fiscal year ended Jan. 31, 1991, in which the company reported a net loss of $3.4 million or $0.51 per share. Revenues for the fiscal year ended Jan. 31, 1992, were $4.9 million as compared to revenues of $1.8 million for the fiscal year ended Jan. 31, 1991. Although fiscal year 1992 revenues increased 175 percent, a 54 percent increase in expenditures, to $9.5 million from $6.2 million in the fiscal year ended Jan. 31, 1991, more than offset the increase in revenues. The increase in expenditures during the fiscal year ended Jan. 31, 1992, was attributable to increases in all areas of the company.
 The increase in revenues was a result of the market acceptance of the company's PixTex/EFS product, released in April 1991. Revenues consisted of software license royalties of $2.7 million from the company's major distributor, Digital Equipment Corporation, software license fees of $1.2 million from direct sales and sales through vertical market distributors, and contract and license fees of $1.0 million from the company's Japanese business partner, Nikkei Information Systems Co., Limited.
 Revenues from the Digital relationship increased to $2.7 million in fiscal year 1992 from $0.2 million in fiscal year 1991. This increase is the result of the coordinated sales effort between the company's direct sales force and the Digital sales force. Revenue from license fees generated by the company's direct sales force and certain vertical market distributors increased by 104 percent to $1.2 million in fiscal year 1992 from $0.6 million in fiscal year 1991.
 Expenditures increased by 54 percent to $9.5 million in fiscal year 1992 from $6.2 million in fiscal year 1991. Part of this increase was due to increased sales and marketing and the building of a direct sales force ($1.4 million). Also contributing to the increase was the growth of the engineering group to begin the porting of the company's products to additional computer platforms and the technical support group to provide support to the growing list of the company's customers ($1.0 million). General and administrative costs increased $0.9 million due primarily to expense accruals for salary and benefits related to the hiring of a new chief executive officer and increased staffing and compensation expense.
 The company reported a net loss for the fiscal quarter ended Jan. 31, 1992, of $1.6 million or $0.21 per share. This compares to the fiscal quarter ended Jan. 31, 1991, in which the company reported a net loss of $1.3 million or $0.18 per share. Revenues for the fiscal quarter ended Jan. 31, 1992, were $1.6 million as compared to revenues of $0.5 million for the fiscal quarter ended Jan. 31, 1991. Expenditures for the fiscal quarter ended Jan. 31, 1992, increased 65 percent over the fiscal quarter ended Jan. 31, 1991, to $3.3 million from $2.0 million. The increase in expenditures during the fiscal quarter ended Jan. 31, 1992, was attributable to increases in all areas of the company.
 EXCALIBUR TECHNOLOGIES CORPORATION
 Periods ended Three Months Fiscal Year
 Jan. 31 1992 1991 1992 1991
 Revenues $ 1,597,264 $ 453,433 $ 4,858,306 $ 1,766,113
 Net loss $(1,573,928) $(1,285,633) $(3,861,524) $(3,432,826)
 Net loss per shr. $(0.21) $(0.18) $(0.53) $(0.51)
 Wtd. aver. shrs.
 outstanding 7,383,199 7,248,199 7,347,322 6,789,064
 Product orders for the fourth quarter, ended Jan. 31, 1992, exceeded $1.5 million, representing the third consecutive quarter that product orders have exceeded $1 million. The strong showing is primarily attributed to the continued acceptance of the company's product PixTex/EFS, released in April 1991, and the February 1992 release of PixTex/EFS in a client server environment.
 Excalibur Technologies Corporation is a software development and marketing company headquartered in McLean, with offices in Albuquerque, N.M., and Carlsbad, Calif.
 -0- 4/3/92
 /CONTACT: Douglas R. Johnson, 703-790-2110, for Excalibur Technologies/
 (EXCA) CO: Excalibur Technologies Corporation ST: Virginia IN: CPR SU: ERN


SH-GK -- NY047 -- 4886 04/03/92 14:14 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 3, 1992
Words:739
Previous Article:MARCH SALES ARE PONTIAC'S BEST SINCE OCTOBER 1990
Next Article:CALLAWAY GOLF CO. COMMENCES LITIGATION


Related Articles
EXCALIBUR TECHNOLOGIES TO FILE SHELF REGISTRATION
EXCALIBUR TECHNOLOGIES NAMES CHIEF EXECUTIVE OFFICER
CIRCUS REPORTS RESULTS FOR THE FOURTH QUARTER AND FISCAL YEAR
EXCALIBUR TECHNOLOGIES ANNOUNCES FIRST QUARTER RESULTS
EXCALIBUR TECHNOLOGIES ANNOUNCES SECOND QUARTER RESULTS
CIRCUS CIRCUS ENTERPRISES ANNOUNCES RESULTS
EXCALIBUR TUNICA UPDATE
Excalibur Technologies Announces Third Fiscal Quarter Results; Company Continues Growth with 16% Increase in Revenues
Raytheon Delivers First Excalibur Production Rounds to the U.S. Army.
Convera(R) Reports Fourth Quarter and Fiscal Year 2007 Results; Signed Three Agreements for Seven Vertical Sites.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters