Informix Announces Record Revenue For The Fourth Quarter And Year; Database License Revenues Increase 48% Over 1995.
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)--February 4, 1997--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 ) today announced results for the fourth quarter and full year ended December December: see month. 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 November: see month. , 1995, and Illustra Information Technologies, Inc., in February February: see month. , 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 A relational database management system (DBMS) from IBM that runs on a variety of Unix platforms. Originally developed by Informix Software, Menlo Park, CA, the product was acquired by IBM in 2001. 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. Phil PHIL Philosophy
PHIL Philadelphia, PA, USA
PHIL Public Health Image Library (US CDC) 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-
SUMMARY FINANCIAL RESULTS 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. 1996: A BANNER YEAR FOR NEW PRODUCT SHIPMENTS 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 application. -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. INFORMIX ANNOUNCES FACILITIES PLANS 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. 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 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 http://www.informix.com . 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). -0- 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. INFORMIX CORPORATION 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. INFORMIX CORPORATION Condensed Consolidated Balance Sheets (Unaudited, in thousands) December 31, December 31, 1996 1995 ---------- ---------- (Note) ASSETS 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 ========== ========== LIABILITIES AND STOCKHOLDERS' EQUITY 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
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