FDP earnings double for fiscal 1995.MIAMI--(BUSINESS WIRE)--Jan. 22, 1996--FDP Corp. (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 :FDPC FDPC Full Duplex Packet Cascading (Vtrails) FDPC Federal Data Processing Center(s) FDPC Frequency-Dependent Phase Compensation ) Monday Monday: see week. announced the financial results for the fiscal year ended Nov. 30, 1995. For the year ended Nov. 30, 1995 total revenue was $19,389,000 vs. $18,371,000 for the same period in 1994. Net earnings for the year more than doubled to $1,468,000, or $.41 per share, compared to net earnings of $652,000, or $.19 per share, in 1994. For the three months ended Nov. 30, 1995 total revenues were $4,831,000 vs. $4,453,000 for the same period in 1994. The company reported a net earnings for the last quarter of 1995 of $362,000, or $.10 per share, compared to a net earnings of $216,000, or $.06 per share, for 1994. The improvement in results for the quarter was related to sales of the Agency Database for Windows product, higher interest income and a lower effective tax rate. The improvement in the 1995 results, both operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. and net profits more than doubled, was the result of revenues generated from FDP/VISION, increased international revenues for FDP/CLAS, higher interest income and a lower effective tax rate. 1995 heralded the release of the first three products of FDP/VISION: Agency Database for Windows, FDP/XL for Windows and Finpack for Windows. The release of the products resulted in software related revenues of Agency Database and Advanced Underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. increasing 66% and 17%, respectively. Pension Partner division revenues were down 6% as higher maintenance revenue was offset by lower product sales and timesharing revenue. Product sales were down as customers delayed purchasing, awaiting the availability of Pension Partner products under FDP/VISION. FDP/CLAS revenues were up 12% mainly due to a 60% increase in international revenues specifically related to installations in the Netherlands and Australia. FDP/COMPASS reported a revenue decrease of 28% due primarily to a decline in maintenance revenues, however, this decrease was softened soft·en v. soft·ened, soft·en·ing, soft·ens v.tr. 1. To make soft or softer. 2. To undermine or reduce the strength, morale, or resistance of. 3. by a corresponding reduction in operating costs operating costs npl → gastos mpl operacionales . Michael C. Goldberg, chairman and chief executive officer, was pleased with the successful launch of the first three products under FDP/VISION which contributed significantly to the improved results. In 1996 we will fill the backlog Backlog The total value of sales orders waiting to be fulfilled. Notes: This figure is used mainly in the manufacturing industry. Increases or decreases in a company's backlog indicate the future direction of sales and earnings. of orders for the Windows '95 compatible FDP/VISION products, while continuing to expand our sales efforts on our current VISION products. We also expect to see an increase in the sales related to our home office products: FDP/CLAS and FDP/COMPASS. Further, the acquisition of System Innovations which occurred first quarter 1996, gives FDP FDP fibrin (fibrinogen) degradation product. the opportunity to leverage its resources and open new opportunities to cross sell our products. The success of FDP/VISION in 1995 was only the beginning, we expect to continue to build upon this success in 1996. 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 $16,111,000, no debt, and shareholders' equity Shareholders' Equity A firms' total assets minus its total liabilities. Equivalently, it is share capital plus retained earnings minus treasury shares. Shareholders' equity is the amount by which a company is financed through common and preferred shares. of $20,062,000. Miami-based FDP Corp. develops and markets application software systems for the marketing and administration areas of the Employee Benefit and Life Insurance industries. -0-
FDP Corp.
Selected Financial Data
Fiscal Year Ended Three Months Ended
Nov. 30, Nov. 30,
1995 1994 1995 1994
Revenue $19,389,000 $18,371,000 $ 4,831,000 $ 4,453,000 Operating Profit $ 1,069,000 $ 427,000 $ 224,000 $ 254,000 Earnings Before Income Taxes $ 2,030,000 $ 1,161,000 $ 472,000 $ 461,000 Net Earnings $ 1,468,000 $ 652,000 $ 362,000 $ 216,000 Earnings Per Share $ .41 $ .19 $ .10 $ .06 Weighted Average No. of Shares 3,590,000 3,442,000 3,599,000 3,471,000
Nov. 30,
1995 1994
Stockholders' Equity $20,062,000 $18,240,000 Total Assets $23,660,000 $21,520,000 CONTACT: FDP Corp., Miami Mark Silverman, Chief Financial Officer 305/858-8200 |
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