MDL Information Systems, Inc. announces Fourth Quarter and Year-End results.SAN LEANDRO San Leandro (săn lēăn`drō), city (1990 pop. 68,223), Alameda co., W Calif., on San Francisco Bay; inc. 1872. Metal, wood, and paper products; chemicals; leather goods; foods and beverages; medical equipment; lighting fixtures; and , Calif.--(BUSINESS WIRE)--April 25, 1995--MDL Information Systems, Inc. (NASDAQ/NMS:MDLI MDLI Molecular Design Limited ), the leading supplier of chemical information management systems, today announced financial results for the quarter ended March 31, 1995, and for fiscal year 1995. Revenues were $14.1 million for the quarter ended March 31, 1995, a 25% increase over the $11.3 million reported in the same period ended March 31, 1994. For the full year ended March 31, 1995, revenues were $51 million, a 17% increase over the $43.3 million reported in fiscal 1994. Net income was $1.7 million or $.20 per share for the quarter ended March 31, 1995. Included in these results is a one-time charge of $553,000 or $.06 per share for the quarter, resulting from the accrual accrual, n continually recurring short-term liabilities. Examples are accrued wages, taxes, and interest. of severance The act of dividing, or the state of being divided. The term severance has unique meanings in different branches of the law. Courts use the term in both civil and criminal litigation in two ways: first, when dividing a lawsuit into two or more parts, and second, when costs associated with headcount reductions on March 31, 1995. Net income reported for the quarter ended March 31, 1994 was $771,000 or $.09 per share. Net income for the twelve months ended March 31, 1995 was $3.9 million or $.48 per share. Included in these results were a severance cost accrual of $553,000 or $.06 per share and the write-off Write-Off A reduction in the value of an asset or earnings by the amount of an expense or loss. Companies are able to write off certain expenses that are required to run the business, or have been incurred in the operation of the business and detract from retained revenues. of purchased research and development costs in the third quarter of $1.4 million or $.17 per share. For the year ended March 31, 1994, the Company reported net income of $37,000 which included an intercompany interest charge of $2.3 million under the Company's prior ownership. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Steven Goldby, 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. of MDL MDL - (Originally "Muddle"). C. Reeve, Carl Hewitt and Gerald Sussman, Dynamic Modeling Group, MIT ca. 1971. Intended as a successor to Lisp, and a possible base for Planner-70. Basically LISP 1.5 with data types and arrays. , "Fourth quarter results reflect both a rebound rebound (rē´bownd), n/v 1. a recovery from illness. n 2. an outbreak of fresh reflex activity after withdrawal of a stimulus rebound adjective in our customers' investment in their research information management and a confirmation of our focused strategy to be more responsive to customer needs. During fiscal year 1995, MDL reorganized re·or·gan·ize v. re·or·gan·ized, re·or·gan·iz·ing, re·or·gan·iz·es v.tr. To organize again or anew. v.intr. To undergo or effect changes in organization. into four business units to enhance customer responsiveness, increase our revenue growth and profit potential, and reduce product time-to-market. Reorganizing into business units also enabled us to eliminate a layer of management and reduce headcount. The business units -- Database, ISIS, MACCS/REACCS/ORAC, and New Ventures -- are all committed to delivering the most complete and comprehensive scientific research information management systems for research chemists This is a list of famous chemists: (alphabetical order) : Top - 0–9 A B C D E F G H I J K L M N O P Q R S T U V W X Y Z A
The ISIS and Database business units led fourth quarter revenue growth. For the quarter ended March 31, 1995, ISIS new license revenues were $6.0 million, a 22% increase over the $4.9 million reported for the quarter ended March 31, 1994. ISIS maintenance revenues were $1.6 million, a 33% increase over the $1.2 million reported for the quarter ended March 31, 1994. For the year ended March 31, 1995, total ISIS revenues were $26.2 million, a 36% increase over the $19.3 million reported on March 31, 1994. Total ISIS maintenance revenues were $5.5 million, a 49% increase over the $3.7 million reported on March 31, 1994. The following companies placed ISIS orders of $100,000 or more this quarter: Companies expanding current ISIS licenses included AgrEvo UK Limited, AgrEvo GmbH, Boehringer Ingelheim Pharmaceuticals, Inc., Boehringer Ingelheim KG, Bristol-Myers Squibb Bristol-Myers Squibb (NYSE: BMY), colloquially referred to as BMS, is a pharmaceutical corporation, formed by a 1989 merger between pharmaceutical companies Bristol-Myers Company, founded in 1887 by William McLaren Bristol and John Ripley Myers in Clinton, NY (both were Company, and Italfarmco S.p.A. Companies doing business with MDL for the first time and licensing ISIS included Genetics genetics, scientific study of the mechanism of heredity. While Gregor Mendel first presented his findings on the statistical laws governing the transmission of certain traits from generation to generation in 1856, it was not until the discovery and detailed study of Institute, Inc., H. Lundbeck A/S, and Huels AG. Sanofi Chimmie, a current MDL customer, migrated from MACCS MACCS Macquarie Centre for Cognitive Science MACCS Marine air command and control system (US DoD) MACCS Molecular Access System MACCS Mobile Advanced Command and Control Station (MIT Humans and Automation Laboratory) and REACCS REACCS Reaction Access System to ISIS. Rhone-Poulenc Rorer Pharmaceuticals, Inc., a long-time MDL customer, licensed more than $1 million of ISIS to be used as a major component of its scientific information management strategy in the US, UK, and France. For the quarter ended March 31, 1995, database revenues were $3.1 million, a 63% increase over the $1.9 million reported for the quarter ended March 31, 1994. For the year ended March 31, 1995, database revenues were $11.3 million, a 30% increase over the $8.7 million reported for the year ended March 31, 1994. On October 1, 1994, the Company acquired the business of Occupational Health Services health services Managed care The benefits covered under a health contract , Inc., to enter into the industrial hygiene hygiene, science of preserving and promoting the health of both the individual and the community. It has many aspects: personal hygiene (proper living habits, cleanliness of body and clothing, healthful diet, a balanced regimen of rest and exercise); domestic hygiene and material safety data market. Since the acquisition, the OHS product line has generated revenues of $1.7 million. In January, 1995, MDL announced the forthcoming release of Project Library, an information management solution for combinatorial chemistry Combinatorial chemistry involves the rapid synthesis or the computer simulation of a large number of different but structurally related molecules. Introduction Synthesis of molecules in a combinatorial fashion can quickly lead to large numbers of molecules. -- a new methodology that can be pivotal to accelerating discovery research. Explained Goldby, "Combinatorial chemistry is an emerging strategy of the pharmaceutical, biotechnology, and agrochemical agrochemical Any chemical used in agriculture, including chemical fertilizers, herbicides, and insecticides. Most are mixtures of two or more chemicals; active ingredients provide the desired effects, and inert ingredients stabilize or preserve the active ingredients or aid industries for discovering new lead compounds more rapidly and more economically. Instead of making and testing new chemicals one at a time, leading-edge companies are now using robotic ro·bot·ic adj. Relating to, characteristic of, or employing robots. synthesis to make thousands to millions of compounds at once -- a real industrialization industrialization Process of converting to a socioeconomic order in which industry is dominant. The changes that took place in Britain during the Industrial Revolution of the late 18th and 19th century led the way for the early industrializing nations of western Europe and of discovery research. This very exciting area is the initial focus of our New Ventures business unit. Our ISIS and database products will also support the combinatorial chemistry effort by helping our customers access, manage, communicate, and analyze relevant information faster and more efficiently. As our customers revamp re·vamp tr.v. re·vamped, re·vamp·ing, re·vamps 1. To patch up or restore; renovate. 2. To revise or reconstruct (a manuscript, for example). 3. To vamp (a shoe) anew. n. their research and development processes, we are developing new products to meet their needs." Established in 1978, MDL Information Systems, Inc. is the leading commercial supplier of chemical information management software, chemical information databases, and related services to the pharmaceutical, agrochemical, and chemical industries. The Company's software and database products enable its customers to discover and develop new products more rapidly by allowing scientists to access and use scientific information more effectively. MDL has offices worldwide with headquarters in San Leandro, Calif. -0-
MDL INFORMATION SYSTEMS, INC.
CONSOLIDATED AND COMBINED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
(unaudited)
Three Months Ended Twelve Months Ended
March 31, March 31,
1995 1994 1995 1994
Revenues:
License and other $6,828 $5,732 $24,044 $19,920
Database 3,142 1,891 11,284 8,721
Maintenance 4,172 3,695 15,623 14,740
Total revenues 14,142 11,318 50,951 43,381
Costs and Expenses: Cost of revenues 2,362 1,678 8,725 6,364 Product development 2,405 1,788 8,869 7,670 Sales, marketing and customer service 6,299 5,243 22,656 20,405 General and administrative 928 1,645 4,474 5,665 Severance 553 553 Write-off of purchased research and development 1,394 costs in process Total costs and expenses 12,547 10,354 46,671 40,004 Income from operations 1,595 964 4,280 3,377 Other income (expense): Interest expense (23) (48) (120) (2,427) Other income (expense) 225 (63) 500 (227) Total other income (expense) 202 (111) 380 (2,654) Income (loss) before income taxes 1,797 853 4,660 723 Provision for income taxes (59) (82) (692) (686) Net income $1,738 $771 $3,968 $37 Net income per common share $0.20 $0.09 $0.48 $0.00 Shares used in computing net income per common share 8,667,747 8,200,000 8,316,937 8,200,000
MDL INFORMATION SYSTEMS, INC.
CONSOLIDATED BALANCE SHEETS
(in thousands, except per share data)
ASSETS
March 31, 1995 March 31, 1994
Current Assets:
Cash and cash equivalents $ 4,889 $ 5,928
Accounts receivable, net 18,703 12,328
Prepaid expenses and other assets 1,374 1,488
Total current assets 24,966 19,744
Property and equipment, net 3,166 3,509
Capitalized software development
and database costs, net 12,960 9,654
Other assets 1,090 1,244
Total assets $42,182 $34,151
LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Note payable $ 1,250 $ 2,000 Accounts payable 993 1,242 Accrued compensation 1,853 1,018 Accrued royalties 1,217 596 Other accrued liabilities 1,848 1,135 Income taxes payable 82 256 Deferred revenues 10,885 9,737 Total current liabilities 18,128 15,984 Long term note payable 1,900 -- Stockholders' equity: Common stock, $.01 par value 82 82 Paid-in capital in excess of par 13,996 13,996 Retained earnings 8,061 4,093 Cumulative translation adjustment 15 (4) Total stockholders' equity 22,154 18,167 Total liabilities and stockholders' equity $42,182 $34,151 -0- Note to Editors: ISIS, MDL, and Project Library are trademarks of MDL Information Systems, Inc. All other products are trademarks or registered trademarks of their respective holders. CONTACT: MDL Information Systems, Inc. John Hanlon This article or section needs sources or references that appear in reliable, third-party publications. Alone, primary sources and sources affiliated with the subject of this article are not sufficient for an accurate encyclopedia article. , 510/614-3646 |
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