Hyperion Software Reports Record Fourth Quarter Revenues; Earnings Rose 59% Before Nonrecurring Charges.STAMFORD Stamford, town, England
Stamford, town (1991 pop. 18,127), in the Parts of Kesteven, Lincolnshire, E central England, on the Welland River. It is a market town. Products include diesel engines, electrical equipment, bricks, and tiles. , Conn.--(BUSINESS WIRE)--July 17, 1997--Hyperion Software (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 : HYSW) today reported revenues of $73.6 million for its fourth quarter ended June 30, 1997, a 26 percent increase over revenues of $58.6 million for the same period of the prior year. Net income, before nonrecurring charges Nonrecurring Charge
An expense occurring only once on a company's financial statement.
An extraordinary item is an example of a nonrecurring charge.
Also known as "nonrecurring item". , increased to $8.6 million from $5.4 million for the same quarter last year. On a per share basis, Hyperion reported $.31, which reflects nonrecurring charges of $.15 per share or $4.4 million ($2.8 million net of tax benefits) for asset valuation and restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). costs related to Hyperion's development venture with The Baan Company for future accounting products. Without giving effect to the one-time charges, Hyperion's net income for the quarter would have been $.46 per share. For the fourth quarter a year ago, the company reported $.30 per share.
Revenues for the fiscal year ended June 30, 1997 were $222.8 million and net income was $11.9 million, or $.64 per share. Revenues and net income increased 29 percent and 26 percent, respectively, from $172.8 million and $9.5 million, or $.53 per share, for fiscal year 1996. The company generated cash of $47.1 million from its 1997 operating activities.
Software sales rose 24 percent for the year to $112.1 million. Strong revenue growth was realized across all product lines and geographic regions, including Asia, Europe and North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. .
James A. Perakis, Chairman 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. of Hyperion Software, commented, "We are pleased to report record fourth quarter operating results that reflect the demand we're experiencing in our markets. We're seeing particularly strong growth for our budgeting and business analysis products. In its first year of release, Hyperion OLAP (OnLine Analytical Processing) Decision support software that allows the user to quickly analyze information that has been summarized into multidimensional views and hierarchies. OLAP tools are used to perform trend analysis on sales and financial information. has been licensed to over 130 corporations. Our Enterprise product line also continues to do well and to drive much of our international growth."
Added Perakis, "Our strategic partnership with Baan is producing early results. We've begun to realize benefits from cooperative marketing and we look forward to the joint development of accounting lanning and budgeting product. Pillar pillar, freestanding columnar supporting member. It is a general term, little used as an exact architectural definition except as applied to an upright support in the medieval styles, consisting of an assemblage of juxtaposed shafts and moldings; unlike the column, Release 3 addresses the needs of both financial users and line manafrom numerous ease-of-use and on-line help enhang and budgeting, accounting, multi-source consolidation, and business reporting and analysis. The company The company is ranked first worldwide in budgetrating in INPUT's 1996 survey of financial software suppliers. The company is headquartered in Stamford, Connecticut Stamford is a city in Fairfield County, Connecticut, United States. According to 2006 Census Bureau estimates, the population of the city is 119,261, making it the fourth largest city in the state. and has more than 1,200 employees. Additional information is available at the company's Web site at http://www.hyperion.com or by calling 1-800-286-8000.
This press release contains statements that are forward looking. These statements are based on current expectations that are subject to risks and uncertainties. Actual results will vary because of factors such as product ship schedules, life cycles, terms and conditions, product mix, competitive products and pricing, customer demand, technological shifts and other issues discussed in the company's filings with the Securities and Exchange Commission. -0-
Hyperion Software Corporation Consolidated Financial Data (In thousands, except per share data) Quarter Ended Year Ended June 30, June 30, 1997 1996 1997 1996 Statement of Income Data: Software license revenues $41,799 $35,110 $112,115 $ 90,304 License renewals & service revenues 31,825 23,500 110,715 82,520 Total revenues 73,624 58,610 222,830 172,824 Cost of revenues 22,792 17,341 76,211 58,038 Sales & marketing expenses 22,842 19,593 72,277 55,484 Product development expenses 9,441 7,992 33,046 26,839 Asset valuation & restructuring costs 4,400 4,400 Purchased research & development 2,000 General & administrative expenses 5,186 5,261 19,216 16,443 Net income 5,886(a) 5,351 11,878 9,457 Earnings per share .31(a) .30 .64 .53 R&D Spending $ 10,951 $ 9,292 $ 37,838 $ 34,637 -0- June 30, 1997 1996 Balance Sheet Data: Cash & cash equivalents $ 67,059 $ 42,361 Accounts receivable, net 64,831 55,674 Working capital 42,236 27,449 Total assets 218,639 179,448 Mortgage payable 7,823 8,336 Stockholders equity 113,037 90,003
(a) Includes one-time charges relating to relating to relate prep → concernant
relating to relate prep → bezüglich +gen, mit Bezug auf +acc a joint development venture for future accounting products, which had the effect of reducing net income by approximately $2.8 million or $.15 per share. -0-
Hyperion, Hyperion Software, Hyperion Financials, Hyperion Forms, Hyperion Ledger The principal book of accounts of a business enterprise in which all the daily transactions are entered under appropriate headings to reflect the debits and credits of each account. , Hyperion Payables Payables
Related: Accounts payable , Hyperion Admin, Hyperion Tools, Hyperion Assets, Hyperion Retrieve, Hyperion Analyst, Hyperion Pillar, Hyperion OLAP, Hyperion Receivables Receivables
An asset designation applicable to all debts, unsettled transactions or other monetary obligations owed to a company by its debtors or customers. Receivables are recorded by a company's accountants and reported on the balance sheet, and they and include all debts owed , LedgerLink, Micro Control, Pillar, Financial Intelligence and Business Intelligence are registered trademarks and Hyperion Enterprise, Hyperion Reporting, Hyperion OnTrack, Hyperion Analytical analytical, analytic
pertaining to or emanating from analysis.
control of confounding by analysis of the results of a trial or test. Ledger, Hyperion Purchasing and Build&Link are trademarks of Hyperion Software Operations Inc., a wholly-owned subsidiary of Hyperion Software Corporation. Marvel The original code name for Microsoft Network. Comics, Spider-Man:TM and copyright 1996 Marvel Characters, Inc. all rights reserved. All other trademarks and company names mentioned are the property of their respective owners.
For further information, refer to the Hyperion Software Corporation 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.
See 10-K. for the year ended June 30, 1996.
CONTACT: Hyperion Software Corp.
Lucy Ricciardi 203/703-3705
Michael Manto 203/703-3889