MDL Information Systems Inc. Announces Record Results Of $17.4 Million Revenues And EPS Of $0.45 For Third Quarter.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)--Jan. 22, 1996--MDL Information Systems Inc. (NASDAQ/NMS:MDLI MDLI Molecular Design Limited ), today announced revenues of $17.4 million for the quarter ended Dec. 31, 1995, a 17% increase over the $14.9 million reported in the same period in 1994. Net income was $4.2 million or $0.45 per share for the quarter ended Dec. 31, 1995, increases of 100% and 73%, respectively, over the $2.1 million or $0.26 per share reported in the same period in 1994. The results reported for the quarter ended Dec. 31, 1994, included a $1.4 million or $0.17 per share charge associated with the acquisition of OHS on Oct. 1, 1994. Steven Ste´ven n. 1. Voice; speech; language. Ye have as merry a steven As any angel hath that is in heaven. - Chaucer. 2. An outcry; a loud call; a clamor. To set steven to make an appointment. Goldby, chairman and chief executive officer 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. , stated: "Our third quarter was a record one in many respects, even compared to last year's strong third quarter. Records were set with revenues of $17.4 million, net income of $4.2 million, and earnings per share of $0.45." For the nine-month period ended Dec. 31, 1995, revenues were $44.6 million, a 21% increase over the $36.8 million reported for the same period in 1994 and net income was $7.1 million or $0.77 per share, increases of 223% and 185%, respectively, over the $2.2 million or $0.27 per share reported in the same period in 1994. Goldby continued, "We received 14 orders exceeding $100,000 for ISIS, our client-server (programming) client-server - A common form of distributed system in which software is split between server tasks and client tasks. A client sends requests to a server, according to some protocol, asking for information or action, and the server responds. , enterprise-wide chemical information management solution, demonstrating that companies continue to standardize stan·dard·ize v. 1. To cause to conform to a standard. 2. To evaluate by comparing with a standard. on MDL's productivity improvement tools." 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. Goldby: "Customer demand for ISIS was broad-based broad-based Of or relating to an index or average that provides a good representation of the overall market. The S&P 500 and NYSE Composite are generally regarded as broad-based stock indexes, while the popular Dow Jones Industrial Average is biased and in all sales regions. There are two factors driving its success: First, the large base of reference accounts successfully deploying ISIS applications. This is expanding ISIS usage beyond technical innovators innovators people who will try new things. early innovators important figures in the farming or client community because they are the leaders in the introduction of new techniques and management systems. and early adopters to the majority of customers requiring field-proven systems. "Second, the increasing automation of research through 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. and high throughput The speed with which a computer processes data. It is a combination of internal processing speed, peripheral speeds (I/O) and the efficiency of the operating system and other system software all working together. 1. screening is driving upgrades of research information systems to ISIS." ISIS orders exceeding $100,000 booked this quarter include long-time customers such as: American Cyanamid American Cyanamid was a large, diversified, American chemical manufacturer. Lederle Laboratories, maker of Centrum and Stresstabs vitamins, was Cyanamid's pharmaceutical division. Davis & Geck was the company's medical device division. , BASF BASF Bar Association of San Francisco (since 1872; San Francisco, California) BASF Badische Anilin und Soda Fabrik (German chemical products company) BASF Builders Association of South Florida Aktiengesellschaft Aktiengesellschaft (IPA: ['aktsiəngəzεlʃaft]; abbreviated AG) is a German term that refers to a corporation that is limited by shares, i.e., owned by shareholders. , Ciba-Geigy AG Ciba-Geigy AG Former Swiss pharmaceutical company formed in 1970 from the merger of Ciba AG and J.R. Geigy SA. Ciba started out in the 1850s as a silk-dyeing business and branched out into pharmaceuticals in 1900, by which time it was the largest chemical company in , Glaxo Research and Development Ltd., Orion-Farmos Pharmaceuticals, and Schering AG, and newer customers Amgen Inc., Gensia Pharmaceuticals Inc., Hercules European European emanating from or pertaining to Europe. European bat lyssavirus see lyssavirus. European beech tree fagussylvaticus. European blastomycosis see cryptococcosis. Research Center B.V., H. Lundbeck A/S, and Solvay Duphar B.V. Nine new name accounts were secured, including the first two ISIS licenses in China from Beijing University Beijing University or Peking University, at Beijing, China; founded as Metropolitan Univ. 1898, renamed Peking Univ. 1911, absorbed nontechnical departments of Qinghua (Tsinghua) Univ. and Nankai University Founded in 1919 by renowned patriotic educationist Zhang Boling (1876-1951) and Yan Fansun (1860-1920), Nankai University is a member of the Nankai serial schools. . About MDL 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 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 , 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. -0- NOTE TO EDITORS: MDL is a registered trademark and ISIS is a trademark of MDL Information Systems Inc. All other products are trademarks or registered trademarks of their respective holders. -0-
MDL INFORMATION SYSTEMS INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share and share amounts)
(unaudited)
Three Months Ended Nine Months Ended
Dec. 31, Dec. 31,
1995 1994 1995 1994
Revenues:
License and other $7,581 $6,888 $20,599 $17,216
Database 5,187 4,388 10,730 8,174
Maintenance 4,666 3,658 13,272 11,419
------- ------- -------- -------
Total revenues 17,434 14,934 44,601 36,809
------- ------- -------- -------
Costs and Expenses:
Cost of revenues 2,568 2,394 7,123 6,363
Product development 2,760 2,225 7,820 6,652
Sales, marketing and
customer service 6,797 5,683 19,133 16,521
General and administrative 1,068 986 3,095 3,193
Purchased in-process
research and development -- 1,394 -- 1,394
------- ------- -------- -------
Total costs and expenses 13,193 12,682 37,171 34,123
------- ------- -------- -------
Income from operations 4,241 2,252 7,430 2,686
------- ------- -------- -------
Other income (expense):
Interest expense (5) (60) (52) (97)
Other 285 96 575 275
------- ------- -------- -------
Total other income, net 280 36 523 178
------- ------- -------- -------
Income before income taxes 4,521 2,288 7,953 2,864
Provision for income taxes (299) (165) (885) (633)
------- ------- -------- -------
Net income $4,222 $2,123 $7,068 $2,231
======= ======= ======== =======
Net income per common share $0.45 $0.26 $0.77 $0.27
======= ======= ======== =======
Shares used in computing
net income per common
share 9,401,521 8,200,000 9,171,867 8,200,000
========= ========= ========= =========
MDL INFORMATION SYSTEMS INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except per share data)
ASSETS
Dec. 31, 1995 March 31, 1995
Current Assets:
Cash and cash equivalents $8,156 $4,889
Accounts receivable, net 18,168 18,703
Prepaid expenses and other assets 1,263 1,374
------- -------
Total current assets 27,587 24,966
Property and equipment, net 2,981 3,166
Capitalized software
development and
database costs, net 13,644 12,960
Other assets 679 1,090
------- -------
Total assets $44,891 $42,182
======= =======
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Note payable $1,900 $1,250
Accounts payable 1,098 993
Accrued compensation 2,141 1,853
Accrued royalties 2,435 1,217
Other accrued liabilities 1,725 1,930
Deferred revenues 4,715 10,885
------ ------
Total current liabilities 14,014 18,128
Long-term note payable -- 1,900
Stockholders' equity:
Common stock, $0.01 par value 84 82
Paid-in capital in excess of par 15,880 13,996
Retained earnings 15,129 8,061
Cumulative translation adjustment (216) 15
------- -------
Total stockholders' equity 30,877 22,154
------- -------
Total liabilities and
stockholders' equity $44,891 $42,182
======= =======
CONTACT: MDL Information Systems Inc., San Leandro 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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