FDP announces increased first quarter results for fiscal 1995.MIAMI--(BUSINESS WIRE)--March 22, 1995--Miami-based FDP FDP fibrin (fibrinogen) degradation product. Corp. (NASDAQ/NMS:FDPC FDPC Full Duplex Packet Cascading (Vtrails) FDPC Federal Data Processing Center(s) FDPC Frequency-Dependent Phase Compensation ) Wednesday announced the financial results for the first quarter ended Feb. 28, 1995. For the quarter ended Feb. 28, 1995, total revenue was $4,987,000 vs. $4,863,000 for the same period in 1994. The company reported net earnings for the first quarter of 1995 of $396,000, or 11 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , compared to net earnings of $111,000, or 3 cents per share, for the same period in 1994. Net earnings more than tripled due to a combination of factors. Gross profit margins Gross profit margin Gross profit divided by sales, which is equal to each sales dollar left over after paying for the cost of goods sold. gross profit margin A measure calculated by dividing gross profit by net sales. increased to 26% compared to 18% in 1994 due to an increase in software related sales of 7%. Overall expenses for the company decreased slightly as the cost reduction measures made in 1994 in the FDP/COMPASS division offset the cost increases in the other divisions of the company. Interest income also increased. Sales in Agency Partner increased 16% due to revenue earned on the development of FDP/XL for Windows. Pension Partner sales remained steady as increased maintenance revenue was offset by a reduction in information services See Information Systems. revenue. In the Home Office Systems division, FDP/CLAS revenues increased 37% primarily related to revenue recognized on the completion of services relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc a UK-based customer. The decrease in revenue for FDP/COMPASS in the first quarter of 1995 was counterbalanced coun·ter·bal·ance n. 1. A force or influence equally counteracting another. 2. A weight that acts to balance another; a counterpoise or counterweight. tr.v. by a corresponding decrease in costs. Michael C. Goldberg, chairman and chief executive officer, was pleased with the first quarter results as the momentum of 1994's improved earnings continued. He noted that the company's strategy of integrating its products under FDP/VISION, utilizing Microsoft development tools, is continuing to produce tangible results. The release of Agency Database for Windows and the ongoing rollout of FDP/VISION products should result in continued increases in year to year earnings. FDP's financial condition remains strong with cash and marketable securities Marketable Securities Very liquid securities that can be converted into cash quickly at a reasonable price. Notes: Marketable securities are very liquid as they tend to have maturities less than one year, and the rate at which these securities can be bought or sold has of $16,410,000, no debt, and stockholders' equity Stockholders' Equity The portion of the balance sheet that includes capital received from investors in exchange for stock (paid-in capital), donated capital, and retained earnings. This is equal to total assets minus liabilities, preferred stock and intangible assets. of $18,896,000. Miami-based FDP Corp. develops and markets application software systems for the marketing and administration needs of the Life Insurance and Employee Benefit industries. -0-
FDP CORP.
Selected Financial Data
Three Months Ended
Feb. 28,
1995 1994
Revenue $ 4,987,000 $ 4,863,000 Gross Profit $ 1,285,000 $ 857,000 Operating Profit $ 419,000 $ 46,000 Earnings before income taxes $ 639,000 $ 178,000 Net Earnings $ 396,000 $ 111,000 Earnings Per Share 11 cents 3 cents Weighted Average Number of Shares 3,543,000 3,404,000
Feb. 28,
1995 1994
Stockholders' Equity $18,896,000 $17,590,000 Total Assets $22,154,000 $20,301,000 CONTACT: FDP Corp., Miami Mark Silverman, 305/858-8200 |
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