Printer Friendly

Hyperion Software Reports Record Fourth Quarter Revenues; Earnings Rose 59% Before Nonrecurring Charges.

STAMFORD, Conn.--(BUSINESS WIRE)--July 17, 1997--Hyperion Software (NASDAQ: 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, 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 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.

James A. Perakis, Chairman and CEO 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 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 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 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 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, Hyperion Payables, Hyperion Admin, Hyperion Tools, Hyperion Assets, Hyperion Retrieve, Hyperion Analyst, Hyperion Pillar, Hyperion OLAP, Hyperion Receivables, LedgerLink, Micro Control, Pillar, Financial Intelligence and Business Intelligence are registered trademarks and Hyperion Enterprise, Hyperion Reporting, Hyperion OnTrack, Hyperion Analytical Ledger, Hyperion Purchasing and Build&Link are trademarks of Hyperion Software Operations Inc., a wholly-owned subsidiary of Hyperion Software Corporation. Marvel 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 for the year ended June 30, 1996.

CONTACT: Hyperion Software Corp.

Lucy Ricciardi 203/703-3705

Michael Manto 203/703-3889
COPYRIGHT 1997 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1997, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Jul 17, 1997
Words:839
Previous Article:Logistec - Quarterly Dividend.
Next Article:MathSoft Releases Fiscal 1997 Fourth Quarter and Year-End Results.
Topics:


Related Articles
IMRS REPORTS STRONG SECOND QUARTER RESULTS Revenues For The Trailing 12 Months Total $113 Million.
HYPERION SOFTWARE REPORTS STRONG FIRST HALF RESULTS; ACCOUNTING PRODUCT MOMENTUM SUPPORTS FINANCIAL SOLUTION STRATEGY; Strategic Acquisitions Expand...
SPSS Inc. announces record quarter, yearly sales and earnings; strong desktop sales raise EPS to meet or beat analysts' projections.
Hyperion Software confirms third quarter expectations.
HYPERION SOFTWARE REPORTS FOURTH QUARTER RESULTS; Company Announces Record Sales and New Products.
Hyperion Software Posts Strong Third Quarter Performance.
Progress Software Corporation Reports Fourth Quarter Financial Results.
HBOC Posts Record Fourth Quarter and 1997 Earnings and Revenue.
Hyperion Solutions Reports Record First Quarter Revenues; Earnings Increased 66%, Excluding Merger Costs.
MICROSOFT EARNINGS EXCEED FORECASTS.

Terms of use | Copyright © 2014 Farlex, Inc. | Feedback | For webmasters