Metrowerks Announces Results for the Fourth Quarter and Fiscal Year Ended July 31, 1998.AUSTIN, Texas--(BUSINESS WIRE)--Aug. 20, 1998--Metrowerks(R) Inc. (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 :MTWKF) (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :MWK MWK In currencies, this is the abbreviation for the Malawi Kwacha. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ) (ME:MWK), a leading provider of software development tools for desktop and embedded systems Embedded systems Computer systems that cannot be programmed by the user because they are preprogrammed for a specific task and are buried within the equipment they serve. , today announced its results of operations for the fourth quarter (Q4FYJuly98) and year ended July 31, 1998. Revenues for Q4FYJuly98 totaled $5.1 million compared to revenues in Q4FYJuly97 of $6.2 million. Product sales for Q4FYJuly98 were $4.9 million, or 97% of total sales, compared to product sales of $5.0 million in Q4FYJuly97, or 80% of total sales. Revenues from the embedded market Refers to custom-designed, computer-based devices and applications that perform a fixed set of tasks. It may refer to cellphones and other handhelds, network appliances (routers, access points, modems) and myriad consumer electronics products. represented 56% of revenues for Q4FYJuly98 compared to 35% for Q4FYJuly97. The Company recorded a net loss of $2.0 million ($0.15 per share) for Q4FYJuly98 compared to a net loss of $3.2 million ($0.25 per share) in Q3FYJuly98. In Q4FYJuly97, the Company recorded net income of $155,000 ($0.01 per share). Revenues for the year ended July 31, 1998 totaled $19.1 million, an increase of 4% over revenues for the year ended July31, 1997 of $18.3 million. The Company recorded a net loss for the year ended July 31, 1998 of $5.9 million ($0.48 per share) compared to a net loss of $6.0 million ($0.52 per share) for the year ended July 31, 1997. The Company had a cash balance of $7.1 million at July 31, 1998. The quarterly and annual results for 1997 are audited while the quarterly and annual results for 1998 are unaudited. The Company does not anticipate any changes for the audited Fiscal 1998 results. Business Highlights In Q4FYJuly98, Metrowerks made significant progress in penetrating penetrating breaching the tissues of the body. its key target markets: telecom/datacom and the consumer embedded market.
-- Significant telecom/datacom sales in Q4FYJuly98 included major
sales to Newbridge Networks for use across their TDM Division,
for their Test & Measurement Group and for Cambrian Systems
Corporation, a Newbridge affiliate.
-- In Q4, Metrowerks also made a significant follow-on sale to its
most important telecom customer to date, AG Communications
Systems, a subsidiary of Lucent Technologies.
In Q4FYJuly98, Metrowerks entered into its second licensing arrangement whereby Metrowerks has granted a specific platform vendor exclusive license and distribution rights to certain tools at a guaranteed minimum annual rate. CodeWarrior(R) was also chosen as the official tool chain for Nintendo 64(R) by Nintendo Japan, with CodeWarrior for Nintendo 64 expected to ship in Q1FYJuly99. The Company 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. its sales team effective Aug. 1, 1998 to focus on the significant OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and opportunities that exist for its CodeWarrior line of products. David Perkins David Perkins could refer to any of the following people:
SVP Senior Vice President SVP Schweizerische Volkspartei (Swiss People~s Party) SVP Society of Vertebrate Paleontology SVP Social Venture Partners SVP St Vincent de Paul Business Development & Sales, is now SVP, OEM Licensing. Don Lindsay Don Lindsay is a Canadian politician in the Liberal Party. Lindsay was born in Renfrew, Ontario, the descendant of Scottish and French settlers who came to the Ottawa Valley in 1830s. was promoted to VP, North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. Sales. Harald Lotz was hired to a new position, VP International Sales, and will join the Company Sept. 1, 1998. James Walker James Walker may refer to a number of persons:
This expanded sales team will be able to focus their selling efforts immediately on the number of new or updated CodeWarrior products that have been developed through the Company's heavy investments in R&D, especially those made during the past two years. In Q1FYJuly99, Metrowerks expects to begin shipping five new products including CodeWarrior for VxWorks(R), CodeWarrior for Nintendo 64, CodeWarrior for V8xx(R), Discover Programming(tm) for Motorola(R) DSP (1) (Digital Signal Processor) A special-purpose CPU used for digital signal processing applications (see definition #2 below). It provides ultra-fast instruction sequences, such as shift and add, and multiply and add, which are commonly used in math-intensive and Solaris(tm)-hosted Java(tm) tools. In addition, the company will ship new versions of existing products including CodeWarrior Professional Release 4, CodeWarrior for PlayStation(tm) Release 5 and CodeWarrior for PowerPC(tm) Release 4. Also in Q1FYJuly99, Metrowerks expects to begin shipping a new product, Metrowerks IMPACT, which is the result of an acquisition of the TracePoint performance analysis tools technology from Digital Equipment Corporation. Initially, Metrowerks IMPACT will include profiling and code coverage tools for Windows(R) x/86, while subsequent product releases will be ported to embedded Inserted into. See embedded system. platforms. "It's clear that the strategic changes in our product line over the past two years have consumed a significant amount of our energy and capital," said Jean Belanger, Metrowerks' 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. and chairman. "To be successful, we needed to deploy a wide range of products which we have finally done. The adoption of CodeWarrior by several established companies in the embedded market is validating this deployment. With high quality products and a restructured sales force, we are now in a position to execute on our sales strategy." This release, other than historical financial information, may consist of forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties. These statements may differ materially from actual future events or results. For instance, factors which could cause results to differ from future events include the state of the Mac OS(tm) tools market, the timing of product deliveries, competitive pricing actions and marketing programs, among others. Additional information on these and other factors which could affect the Company's financial results are included in the Company's 1997 annual report to shareholders and most recent quarterly reports on file with the Securities and Exchange Commission. Earnings Table All figures are reported in `000s US dollars (except per share amounts): -0-
METROWERKS INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands of US dollars)
(unaudited)
For the 3 months ended
July 31 April 30 January 31
1998 1998 1998
------------------------------------------
REVENUES
Revenues, net, prior to
non-recurring charge 5,055 5,537 4,810
Non-recurring charge - (2,500) -
)
------------------------------------------
Revenues, net 5,055 3,037 4,810
DIRECT COSTS AND EXPENSES
Cost of goods sold 599 606 685
Research and development 2,816 2,595 2,382
Selling, marketing,
administrative and
technical support 3,213 2,754 2,473
Amortization of
capital assets 492 398 408
Interest income (92) (119) (175)
)
------------------------------------------
7,028 6,234 5,773
NET EARNINGS/(LOSS) (1,973) (3,197) (963)
) )
==========================================
EARNINGS (LOSS) PER SHARE $ (0.15) $ (0.25) $ (0.08)
)
==========================================
Weighted average number
of shares outstanding 12,910 12,867 11,932
For the 3 months ended
October 31 July 31
1997 1997
------------------------
REVENUES
Revenues, net, prior to
non-recurring charge 6,153 6,228
Non-recurring charge - -
------------------------
Revenues, net 6,153 6,228
DIRECT COSTS AND EXPENSES
Cost of goods sold 1,133 1,062
Research and development 2,083 2,272
Selling, marketing,
administrative and
technical support 2,374 2,436
Amortization of
capital assets 386 360
Interest income (60) (57)
------------------------
5,916 6,073
NET EARNINGS/(LOSS) 237 155
========================
EARNINGS (LOSS) PER SHARE $ 0.02 $ 0.01
========================
Weighted average number
of shares outstanding 11,555 11,538
-0- About Metrowerks Founded in 1985, Metrowerks develops, markets and supports CodeWarrior software development solutions for a number of operating systems Operating systems can be categorized by technology, ownership, licensing, working state, usage, and by many other characteristics. In practice, many of these groupings may overlap. targeting the most popular microprocessors. Intended for use for embedded systems or desktop computers, the cross-platform compilers support C, C++, Java and Object Pascal (language) Object Pascal - An object-oriented Pascal developed jointly by Apple Computer and Niklaus Wirth. ["Object Pascal Report", Larry Tesler, Structured Language World 9(3):10-17 (1985)]. , and allow programmers This is a list of programmers notable for their contributions to software, either as original author or architect, or for later additions. See also: Game programmer, List of computer scientists to build applications for a number of different target platforms, all from one unique Integrated Development Environment See IDE. integrated development environment - interactive development environment (IDE (1) (Integrated Development Environment) A set of programs run from a single user interface. For example, programming languages often include a text editor, compiler and debugger, which are all activated and function from a common menu. ). Metrowerks' CodeWarrior products are used by more than 100,000 registered users in 75 countries. Metrowerks, the Metrowerks logo and CodeWarrior are registered trademarks of Metrowerks Inc. All other company and product names may be registered trademarks or trademarks of their respective companies/holders, and are hereby recognized.
CONTACT: Metrowerks Corporation, Austin
Gordy Davies, 512/873-4797
gdavies@metrowerks.com
or
Jim Welch, 512/873-4777
welch@metrowerks.com
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