Gensym Announces First Quarter 2007 Results.BURLINGTON, Mass. -- Gensym Corporation (company) Gensym Corporation - A company that supplies software and services for intelligent operations management. Common applications include quality management, process optimisation, dynamic scheduling, network management, energy and environmental management, and process (Pink Sheets: GNSM), a leading provider of rule engine software for mission-critical solutions, today announced revenues of $4,093,000 and net income of $179,000, or $0.02 per diluted share, for the quarter ended March 31, 2007. For the corresponding quarter of 2006, Gensym had revenues of $3,888,000 and a net loss of $473,000, or $0.06 per diluted share. The results for the first quarter of 2007 included a non-cash expense Noun 1. non-cash expense - an expense (such as depreciation) that is not paid for in cash disbursal, disbursement, expense - amounts paid for goods and services that may be currently tax deductible (as opposed to capital expenditures) related to stock-based compensation of $10,000, or $0.00 per share, as compared to stock-based compensation expenses of $94,000 or $0.01 per share in the same period of 2006. "We are pleased to report a profitable first quarter, even after the increase in general and administrative expenses associated with the recently completed restatement Restatement A revision in a company's earlier financial statements. Notes: The need for restating financial figures can result from fraud, misrepresentation, or a simple clerical error. of our financial statements" said Robert Ashton, Gensym's chairman, 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. . About Gensym Corporation Gensym Corporation (www.gensym.com) is a leading provider of rule engine software and services for mission-critical solutions that automate decisions in real time. Gensym's flagship G2 software applies real-time rule technology for decisions that optimize operations and that detect, diagnose, and resolve costly problems. With G2, the world's largest organizations in manufacturing, utilities, communications, transportation, aerospace, finance, and government maximize the agility of their businesses and achieve greater levels of performance. Gensym and its numerous partners deliver a range of services throughout the world, including training, software support, application consulting, and complete solutions. Gensym and G2, are registered of Gensym Corporation. 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. as that term is defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Any statements contained in this news release that relate to prospective events or developments are deemed to be forward-looking statements. These forward-looking statements are subject to important risks and uncertainties, which could cause actual results to differ materially from those anticipated. Such risks and uncertainties include, but are not limited to, the impact of intense competition, the effectiveness of our indirect distribution channel and strategic relationships and the ability of our partners to effectively market and deliver their Gensym-based solutions, fluctuations in demand for our products, and the other risks and factors discussed in our Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2006 and Quarterly Reports on Form 10-Q Form 10-Q See 10-Q. filed with the Securities and Exchange Commission. Although we believe the expectations reflected in the forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained. We disclaim dis·claim v. dis·claimed, dis·claim·ing, dis·claims v.tr. 1. To deny or renounce any claim to or connection with; disown. 2. To deny the validity of; repudiate. 3. any intent or obligation to update any forward- looking statement as a result of developments occurring after the date of this news release. [TABLE OMITTED] [TABLE OMITTED] |
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