Informix Announces Record Fourth Quarter and Year; Database Revenues Increase 66 % - Tools Revenues up 20%.MENLO PARK Menlo Park.1 Residential city (1990 pop. 28,040), San Mateo co., W Calif.; inc. 1874. Electronic equipment and aerospace products are manufactured in the city. Menlo College and a Stanford Univ. research institute are there. 2 Uninc. , Calif.--(BUSINESS WIRE)--Feb. 7, 1995--Informix Corporation (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 : IFMX IFMX Informix Corporation ) Tuesday announced results for the fourth quarter and fiscal year ended December 31, 1994. -0- SUMMARY FINANCIAL RESULTS
Quarter Ended Quarter Ended Percent
Dec. 31, 1994 Dec. 31, 1993 Increase
Revenue $150,068,000 $101,414,000 48 % Operating Income $ 37,342,000 $ 28,756,000 30 % Pretax Profit $ 37,243,000 $ 28,209,000 32 % Net Income $ 23,836,000 $ 18,054,000 32 % Net Income Per Share $ 0.35 $ 0.27 30 %
Year Ended Year Ended Percent
Dec. 31, 1994 Dec. 31, 1993 Increase
Revenue $468,697,000 $352,915,000 33 % Operating Income $102,561,000 $ 85,389,000 20 % Pretax Profit $103,430,000 $ 87,679,000 18 % Net Income $ 66,196,000 $ 56,115,000 18 % Net Income Per Share $ 0.98 $ 0.83 18 % -0- "We are very pleased with the results achieved in 1994 and by the worldwide acceptance of our new technology," said Phil White, Informix 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. . "We believe that Informix OnLine Dynamic Server 7.1 has been clearly established as the industry's leading parallel processing parallel processing, the concurrent or simultaneous execution of two or more parts of a single computer program, at speeds far exceeding those of a conventional computer. RDBMS (Relational DataBase Management System) See relational database and DBMS. RDBMS - relational database . Informix NewEra, the industry's first second generation client/server application development tool, has received significant technical and customer endorsements which contributed to the acceleration of our tools revenue growth." -0-
1994 QUARTERLY REVENUE GROWTH RATES
REVENUE GROWTH VS. SAME PERIOD OF PRIOR YEAR
Q1 1994 Q2 1994 Q3 1994 Q4 1994
25 % 25 % 30 % 48 %
-0- "Our quarterly revenue growth rates Growth Rates The compounded annualized rate of growth of a company's revenues, earnings, dividends, or other figures. Notes: Remember, historically high growth rates don't always mean a high rate of growth looking into the future. demonstrate the increasing momentum in product acceptance by new and continuing Informix customers," said White. "We are very pleased at the increasing quarterly revenue growth rates we achieved in 1994." Total revenue in the fourth quarter increased by 48%, 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. increased by 30%, net income increased by 32% and net income per share increased by 30% in comparison with Q4 1993 results. Total revenue for the full year 1994 increased by 33%, operating income increased by 20%, net income increased by 18% and net income per share increased by 18% in comparison with 1993 results. Fourth quarter North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. revenues increased by 65% to $74,998,000. European revenues increased by 31% to $50,251,000, and Intercontinental region revenues increased by 43% to $24,819,000 in the fourth quarter. Full year North American revenues increased by 40% to $215,521,000. European revenues increased by 22% to $175,961,000, and Intercontinental region revenues increased by 42% to $77,215,000 for the full year. Productivity remained high during the fourth quarter, as Informix attained 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. revenue of $271,000 per employee. At the end of the fourth quarter, Informix employed 2,212 full time employees worldwide. "We are particularly pleased with our strong revenue growth of 65% in 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. in Q4," said Phil White, Informix chairman and CEO. "Clearly we have succeeded in capturing market share as well as mind share in the North American market, and we believe we are well positioned to continue growing at a healthy rate in North America and our other markets globally." Building on the success of its regional organization in central Europe Central Europe is the region lying between the variously and vaguely defined areas of Eastern and Western Europe. In addition, Northern, Southern and Southeastern Europe may variously delimit or overlap into Central Europe. , Informix adopted a regional organization structure worldwide in 1994, appointing regional vice presidents within the European and Intercontinental territories. Informix ended 1994 with approximately $196 million in cash and investments and no short or long term borrowings. Cash and investments increased by approximately $33 million during the fourth quarter. Days sales outstanding In accountancy, Days Sales Outstanding is a company's average collection period. A low figure indicates that the company collects its outstanding receivables quickly. Typically it is looked at either quarterly or yearly (90 or 365 days). in accounts receivable accounts receivable n. the amounts of money due or owed to a business or professional by customers or clients. Generally, accounts receivable refers to the total amount due and is considered in calculating the value of a business or the business' problems in paying were 79, compared with 97 days at the end of 1993. During the fourth quarter, Informix shipped INFORMIX-OnLine Dynamic Server version 7.1 on eleven UNIX UNIX Operating system for digital computers, developed by Ken Thompson of Bell Laboratories in 1969. It was initially designed for a single user (the name was a pun on the earlier operating system Multics). symmetric multiprocessing See SMP. (parallel) symmetric multiprocessing - (SMP) Two or more similar processors connected via a high-bandwidth link and managed by one operating system, where each processor has equal access to I/O devices. (SMP (Symmetric MultiProcessing) A multiprocessing architecture in which multiple CPUs, residing in one cabinet, share the same memory. SMP systems provide scalability. As business increases, additional CPUs can be added to absorb the increased transaction volume. ) and uniprocessor hardware platforms Each hardware platform, or CPU family, has a unique machine language. All software presented to the computer for execution must be in the binary coded machine language of that CPU. Following is a list of the major hardware platforms in existence today. See platform. . Market acceptance of OnLine Dynamic Server improved significantly in 1994. A number of large, well-known companies chose Informix, and in some cases replaced competing databases, with Informix, for business-critical OLTP (OnLine Transaction Processing) See transaction processing and OLCP. OLTP - On-Line Transaction Processing applications and as the core technology for data warehousing See data warehouse. data warehousing - data warehouse environments. In the more than a dozen benchmark tests undertaken in 1994, OnLine Dynamic Server outperformed the competing databases in terms of reliability, scalability and vendor responsiveness and won every benchmark test. During the fourth quarter, several major corporations standardized on OnLine Dynamic Server version 7.1 for enterprisewide applications. Those organizations included GTE GTE General Telephone & Electronics GTE Génie Thermique et Énergie (French) GTE Gas Turbine Engine GTE Global Tropospheric Experiment GTE Geothermal Energy GTE Gas Turbine Efficiency plc (Sweden & USA) Corporation, MBNA MBNA Monument Builders of North America MBNA Mercedes-Benz North America MBNA Maryland Bank, National Association MBNA Maryland Bank North America MBNA Mount Baker Nurses Association (Bellingham, Washington) , Sears, and Wells Fargo Wells Fargo armored carriers of bullion. [Am. Hist.: Brewer Dictionary, 1147] See : Protectiveness Wells Fargo company that handled express service to western states; often robbed. [Am. Hist. Bank. In addition, other significant contracts awarded to Informix in 1994 include: the American Automobile Association American Automobile Association (AAA), federation of American automobile clubs, est. 1902. AAA provides a number of benefits to its members, including emergency road service; national and international travel assistance, e.g. (AAA AAA: see American Automobile Association. (Triple A) A common single-cell battery used in a myriad of electronic devices of all variety. Like its double A (AA) cousin, it provides 1.5 volts of DC power. When used in series, the voltage is multiplied. ), American Stores American Stores was the name of a United States chain of supermarkets. It was formed in 1917 when Acme Markets merged with four other Philadelphia area grocery chains into American Stores. American Stores would grow to 1,700 stores in 40 states with $15 billion in sales. , the Bundesanstalt fur Arbeit (the German Department of Labor), Deutschesbundespost Telekom, DHL DHL abbr. 1. Doctor of Hebrew Letters 2. Doctor of Hebrew Literature , France Telecom, Holiday Inn, Home Depot, the Kroger Company, MCI (1) (Media Control Interface) A high-level programming interface from Microsoft and IBM for controlling multimedia devices. It provides commands and functions to open, play and close the device. (2) (Microwave Communications Inc. Telecommunications, Transamerica Financial Corporation, the United Kingdom's Royal Air Force and Royal Navy, United Airlines, and Walmart. During 1994, Informix also shipped INFORMIX-NewEra, a new object-oriented, client/server development tool. Since its introduction in July, 1994, over 100 organizations have purchased NewEra for a number of enterprisewide applications. Notable customers include American Express Travel Related Services, Cray Systems, a UK based systems integrator and an Informix partner; Freeport McMoRan, a two billion dollar mining company; Kuwait Petroleum; Swiss Life, a UK based insurance company; and the United Kingdom's Royal Navy. Informix also continued to emphasize its commitment to partnerships by announcing agreements with several leading organizations to integrate technology or to port to Informix database software. Notable new partners include: Baan International, Peoplesoft, Prism Solutions, Tivoli Systems, and Information Builders. Informix also continued its strong relationship with SAP. To date, the Informix and SAP partnership has garnered 275 licensed installations worldwide supporting more than 25,000 users. In January, Informix and ASCII ASCII or American Standard Code for Information Interchange, a set of codes used to represent letters, numbers, a few symbols, and control characters. Originally designed for teletype operations, it has found wide application in computers. Corporation of Japan announced that they had completed the formation of a joint venture to acquire ASCII's database division. The joint venture is 90% owned by Informix, and underscores Informix's commitment to expanding its strong position in the Japanese market. ABOUT INFORMIX Informix Software Inc., the Company's operating subsidiary, is the leading supplier of high performance, parallel processing database technology for open systems. Informix's database servers are the number one choice of computer hardware manufacturers for publishing Transaction Processing Council (TPC (Transaction Processing Performance Council, San Francisco, CA, www.tpc.org) An organization devoted to benchmarking transaction processing systems. In order to derive the number of transactions that can be processed in a given time frame, TPC benchmarks measure the total performance of ) benchmarks for UNIX-based systems. Informix products also include application development tools for creating client/server production applications, decision support systems, and ad-hoc query interfaces, and connectivity software that allows information to be shared transparently from PCs to mainframes within the corporate computing environment. Informix's corporate headquarters is based in Menlo Park. -0-
INFORMIX CORPORATION and Subsidiaries
Condensed Consolidated Statements of Income
(in thousands, except per share data)
Three months ended Twelve months ended
Dec 31, Dec 31, Dec 31, Dec 31,
1994 1993 1994 1993
-------- -------- -------- --------
Net revenues:
Licenses
Services 32,308 19,024 104,941 68,577
-------- -------- -------- --------
150,068 101,414 468,697 352,915
Costs and expenses:
Cost of software distribution 7,928 5,357 24,669 20,077
Cost of services 12,868 8,806 45,986 32,944
Sales and marketing 65,731 38,119 200,538 137,698
Research and development 16,520 11,373 60,417 43,619
General and administrative 9,679 9,003 34,526 33,188
-------- -------- -------- --------
112,726 72,658 366,136 267,526
-------- -------- -------- --------
Operating income 37,342 28,756 102,561 85,389
Interest income 1,127 1,170 3,847 3,943
Interest expense (167) (77) (380) (371)
Other expense, net (1,059) (1,640) (2,598) (1,282)
-------- -------- -------- --------
Income before income taxes 37,243 28,209 103,430 87,679
Income taxes 13,407 10,155 37,234 31,564
-------- -------- -------- --------
Net income $ 23,836 $ 18,054 $ 66,196 $ 56,115
======== ======== ======== ========
Net income per common and common equivalent share: $ 0.35 $ 0.27 $ 0.98 $ 0.83 Weighted average number of common and common equivalent shares outstanding: 67,782 67,701 67,305 67,601
INFORMIX CORPORATION and Subsidiaries
Condensed Consolidated Balance Sheets
(in thousands)
Dec 31, Dec 31,
1994 1993
--------- ---------
ASSETS
Current assets:
Cash and short-term investments $ 191,526 $ 143,527
Accounts receivable, net 131,548 109,005
Deferred taxes 9,978 5,884
Other current assets 14,964 11,001
--------- ---------
Total current assets 348,016 269,417
Property and equipment, net 44,121 32,781
Software costs 24,681 17,680
Deferred taxes 7,651 1,378
Long-term investments 4,477 --
Other assets 15,464 5,377
--------- ---------
Total assets $ 444,410 $ 326,633
========= =========
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable 18,737 14,926
Accrued expenses 27,784 18,388
Accrued employee compensation 33,777 26,823
Income taxes payable 17,725 12,705
Deferred taxes 1,612 818
Deferred revenue 48,580 36,309
Current portion - other liabilities 5,337 3,435
--------- ---------
Total current liabilities 153,552 113,404
Deferred taxes 14,692 5,373 Other liabilities 522 451
Stockholders' equity:
Common stock 655 649
Additional paid-in capital 139,897 125,230
Treasury stock, at cost -- (2,431)
Unrealized gain on available-for-sale
securities, net of tax 665 --
Retained earnings 136,025 86,484
Foreign currency translation adjustment (1,598) (2,527)
--------- ---------
Total stockholders' equity 275,644 207,405
--------- ---------
Total liabilities and
stockholders' equity $ 444,410 $ 326,633
========= =========
CONTACT: Informix Corp., Menlo Park Cecilia Denny, 415-926-6420 |
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