Gartner Group perplexed by Dorfman's comments.STAMFORD, Conn.--(BUSINESS WIRE)--Jan. 13, 1995--Gartner Group 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 :NMS See NetWare Management System. :GART GART Phosphoribosylglycinamide Formyltransferase/Phosphoribosylglycinamide Synthetase/Phosphoribosylaminoimidazole Synthetase GART Graphics Address Remapping Table (AGP chipset) GART Graphics Address Relocation Table ) said today that comments regarding the company made by Dan Dorfman, a television personality, resulted from a misguided analysis of Gartner Group's financial statements and market value. Dorfman did not discuss Gartner Group's accounting policies with management prior to the airing of "The Money Wheel" on CNBC CNBC Center for the Neural Basis of Cognition (artificial intelligence) CNBC Consumer News and Business Channel CNBC Congress of National Black Churches, Inc. . Gartner Group said it is concerned that the inaccurate and misleading nature of the comments may have harmed the company's shareholders. The company maintains conservative accounting policies which have been audited by Price Waterhouse LLP LLP - Lower Layer Protocol since the company's management buy-out in 1990. The company's financial performance is also regularly reviewed by a number of prominent investment firms, including Morgan Stanley, Goldman Sachs, Alex. Brown & Sons and William Blair. John F. Halligan, executive vice president and chief financial officer stated, "The company records and invoices contracts only when signed by clients and it recognizes revenues ratably over the term of the contracts, generally twelve months in duration." The company's most recent financial statements for the period ended Sept. 30, 1994 have been audited by Price Waterhouse LLP which rendered its unqualified opinion on Nov. 2, 1994 and assured the company that its accounting policies adhered to generally accepted accounting principles The standard accounting rules, regulations, and procedures used by companies in maintaining their financial records. Generally accepted accounting principles (GAAP) provide companies and accountants with a consistent set of guidelines that cover both broad accounting . On Nov. 14, 1994, Gartner Group reported record results for the fiscal year ended Sept. 30, 1994. Revenue grew 38% to $169.0 million, operating income increased 87% to $27.4 million and earnings per share increased 242% to 65 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. . Contract value (the aggregate annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. subscription fees under all outstanding "Continuous Service" contracts) grew 35% in 1994 to $190.1 million reflecting the continued acceptance by the market of the company's products and services and its high client retention rates. Gartner Group Inc., located in Stamford, is the leading world-wide provider of subscription-based research and analysis of the computer, communication and information technology industries. Gartner Group has more than 4,000 clients that currently receive its products and services. CONTACT: Gartner Group Inc.
Jennifer L. Schlueter, Director Investor Relations
203/975-6537
or
John F. Halligan, EVP & CFO
203/975-6695
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