Printer Friendly

Informix Announces Record Revenue For The Fourth Quarter And Year; Database License Revenues Increase 48% Over 1995.

MENLO PARK, Calif.--(BUSINESS WIRE)--February 4, 1997--Informix Corporation (NASDAQ:IFMX) today announced results for the fourth quarter and full year ended December 31, 1996. Results for the year earlier periods (the quarter and year ended December 31, 1995) have been restated to reflect the acquisitions of Stanford Technology Group in November, 1995, and Illustra Information Technologies, Inc., in February, 1996. The acquisitions have been accounted for as poolings of interest.

"1996 was a good year, with database license revenues growing 48% over 1995. We continue to gain market share in our core database business," said Informix CEO Phil White. "The acquisition of Illustra and the on-schedule integration and shipment of INFORMIX-Universal Server demonstrate that Informix is driving the database market agenda. In order to continue the database growth, we have substantially invested in R&D and service in 1996 and will continue to build our Company in sales and marketing in 1997." -0-


 Quarter Ended Quarter Ended
 December 31, 1996 December 31, 1995

Revenue $270,828,000 $219,413,000
Operating Income $ 45,479,000 $ 53,042,000
Net Income $ 34,118,000 $ 35,918,000
Net Income Per Share $ 0.22 $ 0.23

 Year Ended Year Ended
 December 31, 1996 December 31, 1995

Revenue $939,311,000 $714,219,000
Operating Income $137,344,000 $145,826,000
Net Income $ 97,818,000 $ 97,644,000
Net Income Per Share $ 0.63 $ 0.65

 Total revenue in the fourth quarter increased by 23%, operating
income decreased by 14%, net income decreased by 5% and net income
per share decreased by 4% in comparison with Q4 1995 results. The
reported revenue increase was unfavorably affected by foreign
exchange rate movements, which reduced the reported revenue increase
by 2 percentage points.
 For the full year, total revenue increased by 32%, operating
income decreased by 6%, net income showed no material increase or
decrease and net income per share decreased by 3% in comparison with
1995 results. The reported revenue increase for the full year was
also unfavorably affected by foreign exchange rate movements, which
reduced the reported revenue increase for the full year 1996 by 2
percentage points.
 North American revenues increased by 15% to $108,560,000 during
the fourth quarter, European revenues increased by 25% to
$101,828,000 and Intercontinental region revenues increased by 39% to
$60,440,000. Full year North American revenues increased by 30% to
$392,141,000, European revenues increased by 37% to $369,473,000 and
Intercontinental region revenues increased by 25% to $177,697,000.
 Informix ended the year with approximately $268 million in cash
and investments and no short or long term borrowings. Cash and
investments increased by approximately $13.8 million during the
fourth quarter. Days sales outstanding in accounts receivable were
84, compared with 76 at the end of 1995.

INFORMIX-Universal Server

 In December 1996 Informix began shipping as scheduled the
INFORMIX-Universal Server, based on Informix's proven Dynamic
Scalable Architecture (DSA) and providing extensibility to handle
the broad range of datatypes not managed effectively by traditional
relational databases. INFORMIX-Universal Server combines the
breakthrough performance and unmatched scalability of Informix's
industry-leading Dynamic Scalable Architecture (DSA) with the secure,
user-defined extensibility of Informix's DataBlade+ technology.
INFORMIX-Universal Server allows companies to manage datatypes which
are industry or customer specific, as well as rich data including Web
pages, time-series data, numbers, images, maps, sound and video.
DataBlade technology provides powerful extensions to the
INFORMIX-Universal Server. Twenty-nine DataBlade modules are
available currently and an additional 51 DataBlade modules are
expected to be available during the early part of 1997.


 During 1996 Informix began shipping many new and noteworthy
products. The list of new products shipped during 1996 in addition
to the INFORMIX-Universal Server includes:

 -INFORMIX-OnLine Extended Parallel Server 8.1 on various hardware
platforms. OnLine XPS 8.1 extends Informix's Dynamic Scalable
Architecture (DSA) to loosely-couple or shared-nothing computing
architectures, including clusters of symmetric multiprocessing (SMP)
systems and massively parallel processing (MPP) systems, providing
customers with mainframe-caliber scalability for data-intensive
applications. Available platforms include Hewlett-Packard Company;
Pyramid Technology, a Siemens Nixdorf Company; Sun Microsystems,
Inc.; IBM Corporation; Digital Equipment Corporation; NEC; ICL, Inc.;
NCR; Data General; Sequent; SGI and Unisys.
 -INFORMIX-OnLine Dynamic Server 7.2, based on Dynamic Scalable
Architecture, for SMP and uniprocessor hardware configurations. New
features in OnLine 7.2 include large memory addressability and
parallel load. OnLine 7.2 offers record breaking performance and
scalability for both OLTP and decision support environments.
 -INFORMIX-OnLine Workgroup Server, the workgroup version of
INFORMIX-OnLine, offers users a Web-ready, easy to use workgroup
database server, based on Informix's Dynamic Scalable Architecture.
Applications written for any of Informix's OnLine database products
will scale from the laptop to the data center, with no changes to the
 -INFORMIX-MetaCube+ 3.0, the latest version of Informix's
relational on-line analytical processing (ROLAP) engine. MetaCube is
a collection of decision support software designed for developing and
managing data warehouse applications.
 -INFORMIX-Universal Web Architecture offers a flexible Web
development and deployment environment that allows businesses to
build and manage high-performance "intelligent" Web sites.
Intelligent Web sites are Web applications created to deliver
customized content that present a company's Internet, Intranet and
Extranet users with a tailored view of information when the
application is accessed.


 In January, 1997 Informix announced the lease of approximately 28
acres in Santa Clara, California, with a fair value of approximately
$60 million. Informix plans to build a major corporate facility on
this site, with ground-breaking currently expected to occur sometime
during the second half of 1997.


 Informix Software, Inc., the Company's operating subsidiary, is
the leading supplier of high-performance, parallel processing
database technology for open systems. Informix products also include
applications development tools for creating client/server production
applications, decision support systems, 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 are in Menlo Park,
California. You can receive press releases via fax machine by
dialing 800-356-0851 or visit our web site at .
 Informix's future results can be impacted by a number of factors
including, but not necessarily limited to the following, any of which
could cause actual results to vary materially from Informix's
anticipated future results: 1) Informix's operating results can vary
substantially from period to period. The timing and amount of
Informix's revenues are subject to a number of factors that make
estimation of operating results prior to the end of a quarter
extremely uncertain. 2) The market for Informix's products is
extremely competitive and there can be no assurance that Informix's
current products will remain competitive, or that Informix's
development efforts will produce products with the cost and
performance characteristics necessary to remain competitive. The
market for Informix products and services is characterized by rapidly
changing technology and frequent new product introductions.
Informix's success will depend on its ability to enhance its existing
products and to introduce new products on a timely and cost effective
basis. 3) The market for Informix's common stock is highly volatile.
4) The demand for Informix's employees is very high and the loss of
key employees could affect future results. 5) The risk factors listed
from time to time in Informix's SEC filings, including but not
limited to the annual report on Form 10-K for the year ended December
31, 1995 (Part II, Item 7), the Registration Statements on Forms S-4
and S-3 filed in January, 1996 (see Risk Factors sections) and the
Form 10-Q for the period ended September 29, 1996 (Part I, Item 2).
 NOTE TO EDITORS: The following are worldwide trademarks of
Informix Software, Inc., Informix Corporation, or their subsidiaries,
registered in the United States of America as indicated by registered
trademarks and in numerous countries worldwide: Informix, The
Informix logo, Dynamic Scalable Architecture, INFORMIX-OnLine Dynamic
Server, INFORMIX-MetaCube, INFORMIX-Universal Web Architecture,
Illustra, and DataBlade. All other names or marks may be registered
trademarks or trademarks of their respective owners.
 Informix news releases are available at no charge through
Business Wire's NewsOnDemand fax service. To immediately receive an
index of available releases, call 1-800-356-0851.

 Condensed Consolidated Statements of Income
 (Unaudited, in thousands, except per share data)

 Three months ended Twelve months ended
 Dec. 31, Dec. 31, Dec. 31, Dec. 31,
 1996 1995 1996 1995
 --------- --------- --------- ---------
 (Note) (Note)
Net revenues:
 Licenses $206,812 $168,334 $708,035 $539,733
 Services 64,016 51,079 231,276 174,486
 --------- --------- --------- ---------
 270,828 219,413 939,311 714,219
Costs and expenses:
 Cost of software
 distribution 12,464 13,018 48,058 38,165
 Cost of services 40,022 27,999 144,850 91,540
 Sales and
 marketing 123,610 86,658 418,695 301,932
 Research and
 development 32,673 23,611 120,211 85,643
 General and
 administrative 16,580 15,085 64,239 51,113
 Merger expenses
 with Illustra - - 5,914 -
 --------- --------- --------- ---------
 225,349 166,371 801,967 568,393
 --------- --------- --------- ---------
 Operating income 45,479 53,042 137,344 145,826

Interest income 3,197 2,400 9,868 8,148
Interest expense (735) (550) (2,617) (1,154)
Other income/
 (expense), net 2,268 44 3,614 (12)
 --------- --------- --------- ---------
 Income before
 income taxes 50,209 54,936 148,209 152,808
Income taxes 16,091 19,018 50,391 55,164
 --------- --------- --------- ---------
Net income $ 34,118 $ 35,918 $ 97,818 $ 97,644
 ========= ========= ========= =========

Net income
 per share $ 0.22 $ 0.23 $ 0.63 $ 0.65

Weighted average
 number of common
 and common
 equivalents shares
 outstanding 155,863 155,054 155,573 150,627

(Note) The data presented above applicable to the prior period has
been restated to reflect the Company's business combination with
Illustra Information Technologies, Inc.

 Condensed Consolidated Balance Sheets
 (Unaudited, in thousands)

 December 31, December 31,
 1996 1995
 ---------- ----------

Current assets:
 Cash and short-term investments $ 261,020 $ 253,209
 Accounts receivable, net 254,096 185,452
 Deferred taxes 13,329 21,504
 Other current assets 29,479 25,924
 ---------- ----------
 Total current assets 557,924 486,089

Property and equipment, net 186,727 81,632
Software costs 54,486 36,866
Deferred taxes 7,775 16,248
Long-term investments 6,639 9,781
Intangible assets 34,693 40,730
Other assets 55,598 19,800
 ---------- ----------
 Total assets $ 903,842 $ 691,146
 ========== ==========

Current liabilities:
 Accounts payable $ 65,446 $ 29,655
 Accrued expenses 52,347 34,919
 Accrued employee compensation 57,626 49,911
 Income taxes payable 34,508 42,833
 Deferred revenue 84,102 66,681
 Other liabilities 5,537 9,248
 ---------- ----------
 Total current liabilities 299,566 233,247

Deferred taxes 31,203 24,488
Other liabilities 2,359 2,846

Stockholders' equity:
 Common stock 1,508 1,480
 Additional paid-in capital 243,564 204,448
 Retained earnings 322,805 226,797
 Unrealized gain on available-for-
 sale securities, net of tax 11,690 4,064
 Foreign currency translation
 adjustment (8,853) (6,224)
 ---------- ----------
 Total stockholders' equity 570,714 430,565
 ---------- ----------
 Total liabilities and
 stockholders' equity $ 903,842 $ 691,146
 ========== ==========

(Note) Data at December 31, 1995 has been restated to reflect the
Company's business combination with Illustra Information
Technologies, Inc. as a pooling-of-interests.

CONTACT: Informix Corporation

Margaret Brauns, Investor Relations, (415) 926-6025

Robert Manetta, Public Relations, (415) 926-6978
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




Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Feb 4, 1997
Previous Article:Chiron reports fourth quarter 1996 results.
Next Article:Cisco Systems Reports Second Quarter Earnings.

Related Articles
Informix Announces Record Fourth Quarter and Year; Database Revenues Increase 66 % - Tools Revenues up 20%.
Informix Announces First Quarter Results Revenues Increase 38% To $204 Million.
The Vantive Corporation Reports Record First Quarter Sales and Earnings.
Informix Announces Record Third Quarter Results And Continues As Fastest Growing Database Company.
Informix Announces Preliminary First Quarter Results.
Unify Corp. Reports 1998 Second Quarter Results.
Unify Corporation Reports Record Profit in Fourth Quarter With Continued Success in VAR Channels.
Unify Corporation Reports Profitable First Quarter With Continued Success in VAR Channels.
Gartner's Dataquest Says Worldwide Database Software Market Grew 18% To $8B In 1999.

Terms of use | Copyright © 2015 Farlex, Inc. | Feedback | For webmasters