Informix Announces Second Quarter Results Revenues Increase 38% To $226 Million Database License Revenues Increase 61%.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)--July 16, 1996--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 second quarter ended June 30, 1996. Revenues for the second quarter of 1996 were $226 million, up 38% from revenues of $164 million in the second quarter of 1995. Earnings per share for the quarter were $ .14. Earnings per share for the same quarter of the prior year were $ .14. Results for the year earlier periods (the quarter and six months ended July 2, 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 interests. "Our second quarter results once again proved that we have the fastest growing database with database license growth of 61% versus 1995," said Phil White, Informix's chief executive officer. "Our fifth annual Informix Worldwide User Conference in Chicago last week was our biggest and best yet with more than 5,200 registered attendants. The excitement shown by our customers and partners was greater than ever with the announcement and shipment of INFORMIX(R)-Workgroup Server for 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). and Windows NT (Windows New Technology) A 32-bit operating system from Microsoft for Intel x86 CPUs. NT is the core technology in Windows 2000 and Windows XP (see Windows). Available in separate client and server versions, it includes built-in networking and preemptive multitasking. and INFORMIX-OnLine Extended Parallel Server 8.1, our massively parallel See MPP. product for clusters and MPP (Massively Parallel Processing or Massively Parallel Processor) A multiprocessing architecture that uses up to thousands of processors. Some might contend that a computer system with 64 or more CPUs is a massively parallel processor. architectures." -0-
SUMMARY FINANCIAL RESULTS
Six Six
Quarter Quarter Months Months
Ended Ended Ended Ended
June 30, 1996 July 2, 1995 June 30, 1996 July 2, 1995
Revenue $226,282,000 $164,068,000 $430,303,000 $312,105,000 Oper. $ 32,680,000 $ 30,168,000 $ 55,982,000 $ 56,494,000 Income Pretax $ 34,328,000 $ 32,002,000 $ 59,552,000 $ 59,980,000 Income Net $ 21,628,000 $ 20,184,000 $ 37,519,000 $ 37,830,000 Income Net Income $ 0.14 $ 0.14 $ 0.24 $ 0.26 Per Share Total revenue in the second quarter increased by 38% in comparison with Q2 1995 results. The reported revenue increase includes the net impact of foreign exchange rate movements, which reduced the reported revenue growth rate by 4%. Increases in revenue by region for the second quarter were: North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. revenues increased by 48% to $93,340,000; European revenues increased by 36% to $89,118,000; and Intercontinental in·ter·con·ti·nen·tal adj. 1. Extending or taking place between or among continents: intercontinental exploration; intercontinental cooperation. 2. region revenues increased by 24% to $43,824,000. Increases in revenue by region for the first six months of 1996 were: North American revenues increased by 40% to $174,363,000; European revenues increased by 38% to $173,948,000; and Intercontinental region revenues increased by 32% to $81,992,000. Informix ended the second quarter with approximately $256 million in cash and investments and no short- or long-term borrowings. 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 87, compared with approximately 79 days the end of the second quarter of 1995. At the Informix Worldwide User Conference (IWUC IWUC International Workshop on Ubiquitous Computing ) in Chicago last week, Informix and NCR Corporation (company) NCR Corporation - Electronics company mainly active in the midrange server market. NCR was founded 1884 as National Cash Register Company. It joint the computer industry in th 1950s. announced their worldwide partnership to develop and sell high availability Also called "RAS" (reliability, availability, serviceability) or "fault resilient," it refers to a multiprocessing system that can quickly recover from a failure. There may be a minute or two of downtime while one system switches over to another, but processing will continue. solutions based on Informix's high-performance database products and NCR's WorldMark servers. As part of this partnership, Informix and NCR (NCR Corporation, Dayton, OH, www.ncr.com) A technology company specializing in financial terminal transactions, retail systems and data warehousing. Until the late 1990s, NCR was heavily invested in the hardware side of the industry, known worldwide as a major manufacturer of computers will integrate their key technologies using a newly formed Informix services practice, and will leverage NCR's worldwide High Availability services. As part of this program, Informix and NCR have partnered with PeopleSoft to integrate its leading applications into the offering. PeopleSoft is the first of several applications which will be included in the program. In addition, at the IWUC in Chicago last week, Informix, Gemplus and Hewlett-Packard (the ImagineCard Alliance) announced the initial phase of a secure infrastructure to deliver personal information smart card technology to businesses and consumers worldwide. By December 1996, the ImagineCard Alliance will deliver its first phase with two key features: strong authentication (1) Verifying the integrity of a transmitted message. See message integrity, e-mail authentication and MAC. (2) Verifying the identity of a user logging into a network. that protects personal information and transactions, and digital signature capability to improve data integrity, ensuring non- repudiation See non-repudiation. of electronic transactions. Also at the IWUC in Chicago last week, twenty four leading technology companies demonstrated products and technologies as potential DataBlade(R) modules for the upcoming INFORMIX Universal Server. Among those companies are Adobe Systems Adobe Systems Incorporated (pronounced a-DOE-bee IPA: /əˈdoʊbiː/) (NASDAQ: ADBE) (LSE: ABS) is an American computer software company headquartered in San Jose, California, USA. offering its Portable Document Format (file format) Portable Document Format - (PDF) The native file format for Adobe Systems' Acrobat. PDF is the file format for representing documents in a manner that is independent of the original application software, hardware, and operating system used to create those documents. file storage and retrieval; Excalibur Technologies for text search and text management; MapInfo Corporation for geospatial Geospatial is a term widely used to describe the combination of spatial software and analytical methods with terrestrial or geographic datasets. The term is often used in conjunction with geographic information systems and geomatics. mapping; Mathsoft for statistical analysis; Open Market for encryption The reversible transformation of data from the original (the plaintext) to a difficult-to-interpret format (the ciphertext) as a mechanism for protecting its confidentiality, integrity and sometimes its authenticity. Encryption uses an encryption algorithm and one or more encryption keys. technology; SunInteractive for video search and retrieval; Synopsys for chemical structure and search technology; Verity ver·i·ty n. pl. ver·i·ties 1. The quality or condition of being true, factual, or real. 2. Something, such as a statement, principle, or belief, that is true, especially an enduring truth: Software for text search and management; Virage Technologies for content based image management; and Vxtreme for video streaming See streaming video and video stream. . Informix made many customer and product announcements during the second quarter, including: - CMG CMG Coastal & Marine Geology (USGS) CMG Chipotle Mexican Grill, Inc. (stock symbol) CMG Companion (of the Order Of) St Michael and St George CMG Computer Measurement Group Direct Interactive chose INFORMIX OnLine Extended Parallel Server to build a data warehouse/Internet application. CMG Direct Interactive also chose INFORMIX-OnLine Dynamic Server 7.1 for the expansion of its core marketing services business. - NASA NASA: see National Aeronautics and Space Administration. NASA in full National Aeronautics and Space Administration Independent U.S. selected the Illustra database for the second phase of NASA's "Mission to Planet Earth" project. Informix will provide four dimensional spatial modeling and other complex data management for one of the world's largest and most complex information systems. - Sears, Roebuck and Co. announced that Sears has chosen INFORMIX-OnLine Extended Parallel Server as the standard platform on which to build several terabyte One trillion bytes. Also TB, Tbyte and T-byte. See tera and space/time. (unit) terabyte - 2^40 = 1,099,511,627,776 bytes = 1024 gigabytes or roughly 10^12 bytes. (Note the spelling - one 'r'). See prefix. data warehouses, beginning with two strategic projects: Sears Credit and Home Services businesses. - The Money Store selected Informix as its database standard for all of its companywide applications. - In June Informix announced the immediate availability of the DataBlade Developers Kit, meeting a key milestone for INFORMIX-Universal Server. The Datablade Developers Kit enables developers to quickly and easily create DataBlade software "snap-ins," or modules, for the INFORMIX-Universal Server, as well as for the Illustra server. During the second quarter Informix and Baan Company announced a record setting 1,510 user TRITON 3.1 client/server benchmark. This is the highest Baan result achieved on any platform with any database. Baan's TRITON 3.1 benchmark consists of user activities such as sales order The sales order, sometimes abbreviated as SO, is an order received by a business from a customer. A sales order may be for products and/or services. Given the wide variety of businesses, this means that the orders can be fulfilled in several ways. entry, purchase order entry, item and bill-of- materials maintenance, supplier data querying and shop floor order processing. Response time criteria for each activity are used to determine the maximum number of concurrent users In computer science, the number of concurrent users for a resource in a location, with the location being a computing network or a single computer, refers to the total number of people using the resource at the same time. on the system. About Informix Informix Corporation is the leading supplier of high- performance, 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. 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 computing - computer environment. Informix's corporate headquarters are in Menlo Park, California Menlo Park is a city in San Mateo County, California in the United States of America. It is located at latitude 37°29' North, longitude 122°9' East. Menlo Park had 30,785 inhabitants as of the 2000 U.S. Census. . You can receive press releases via fax machine by dialing 800-356-0851 or visit our web site at http://www.informix.com. This press release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. created by those sections. Informix assumes no obligation to update the information contained in this press release. 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)Competition 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 char·ac·ter·ize tr.v. character·ized, character·iz·ing, character·iz·es 1. To describe the qualities or peculiarities of: characterized the warden as ruthless. 2. 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)Informix recently announced that it has completed its merger with Illustra Information Technologies. Achieving the anticipated benefits of the merger will depend in part upon whether the integration of the companies' businesses is achieved in an efficient and effective manner and there can be no assurance that this will occur. 4)The market for Informix's common stock is highly volatile. 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 Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 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 Form 10-Q See 10-Q. for the period ended March 31, 1996 (Part I, Item 2). -0-
INFORMIX CORPORATION and Subsidiaries
Condensed Consolidated Statements of Income
(in thousands, except per share data)
(Unaudited)
Three months ended Six months ended
June 30, July 2, June 30, July 2,
1996 1995(a) 1996 1995(a)
--------- --------- --------- ---------
Net revenues:
Licenses $170,413 $123,468 $321,606 $233,956
Services 55,869 40,600 108,697 78,149
--------- --------- --------- ---------
226,282 164,068 430,303 312,105
Costs and expenses:
Cost of software
distribution 12,312 8,214 22,340 16,107
Cost of services 35,496 21,812 68,905 40,063
Sales and
marketing 99,720 71,054 190,863 136,526
Research and
development 29,872 20,458 55,416 39,212
General and
administrative 16,202 12,362 30,883 23,703
Merger expenses
with Illustra - - 5,914 -
--------- --------- --------- ---------
193,602 133,900 374,321 255,611
--------- --------- --------- ---------
Operating income 32,680 30,168 55,982 56,494
Interest income 1,985 1,855 4,235 3,446
Interest expense (761) (192) (1,026) (256)
Other income/
(expense),net 424 171 361 296
--------- --------- --------- ---------
Income before
income taxes 34,328 32,002 59,552 59,980
Income taxes 12,700 11,818 22,033 22,150
--------- --------- --------- ---------
Net income $ 21,628 $ 20,184 $ 37,519 $ 37,830
========= ========= ========= =========
Net income per share(a) $ 0.14 $ 0.14 $ 0.24 $ 0.26 Weighted average number of common and common equivalents shares outstanding(a): 155,046 149,156 155,417 147,957
(a)The unaudited quarterly 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 and Subsidiaries
Condensed Consolidated Balance Sheets
(in thousands, except per share data)
(Unaudited)
June 30, December 31,
1996 1995
---------- ----------
(Note)
ASSETS
Current assets:
Cash and short-term investments $ 253,076 $ 253,209
Accounts receivable, net 217,585 185,452
Deferred taxes 21,504 21,504
Other current assets 27,417 25,924
---------- ----------
Total current assets 519,582 486,089
Property and equipment, net 112,592 81,632
Software costs 44,000 36,866
Deferred taxes 16,248 16,248
Long-term investments 3,213 9,781
Intangible assets 36,279 40,730
Other assets 35,681 19,800
---------- ----------
Total assets $ 767,595 $ 691,146
========== ==========
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable $ 38,644 $ 29,655
Accrued expenses 43,770 34,919
Accrued employee compensation 48,219 49,911
Income taxes payable 52,536 42,833
Deferred revenue 71,440 66,681
Other liabilities 4,884 9,248
---------- ----------
Total current liabilities 259,493 233,247
Deferred taxes 24,363 24,488 Other liabilities 2,157 2,846
Stockholders' equity:
Common stock 1,492 1,480
Additional paid-in capital 214,407 204,448
Retained earnings 262,506 226,797
Unrealized gain on available-for-
sale securities, net of tax 10,580 4,064
Foreign currency translation
adjustment (7,403) (6,224)
---------- ----------
Total stockholders' equity 481,582 430,565
---------- ----------
Total liabilities and
stockholders' equity $ 767,595 $ 691,146
========== ==========
Note: The unaudited quarterly data presented above applicable to
the prior period has been restated to reflect the Company's business
combination with Illustra Information Technologies, Inc.
-0-
NOTE TO EDITORS: The following are worldwide trademarks of
Informix Software, Inc., or its affiliates, registered in the United
States of America, as indicated by (R), and numerous other countries
worldwide: INFORMIX(R); Dynamic Scalable Architecture(TM); Dynamic
Server(TM); New Era(TM); Illustra(TM); and DataBlade(R). All other
company and product names may be 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.
A photo of the CEO is archived in Photo Bank.
CONTACT: Informix Software Jaye Prosser, 415/926-6316 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion