Microstar Software Ltd. Announces Second Quarter Results.OTTAWA--(BUSINESS WIRE)--Sept. 8, 1997--(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : MSS MSS - maximum segment size .) Microstar Software Ltd. today reported consolidated con·sol·i·date v. con·sol·i·dat·ed, con·sol·i·dat·ing, con·sol·i·dates v.tr. 1. To unite into one system or whole; combine: net earnings for the second quarter of fiscal 1998 ended July July: see month. 31, 1997 of $264,400 compared to a net loss of $507,800 for the second quarter of fiscal 1997 representing earnings per share of $.08 compared to a per share loss of $.16 for the same period last year. Revenues for the quarter increased $527,100 to $1,672,900 compared to $1,145,800 for the same period last year, representing an increase of 46 percent. Net earnings for the six months ended July 31, 1997 were $556,100 compared to a net loss of $858,500 for the six months ended July 31, 1996. Earnings per share for the six months were $.18 compared to a per share loss of $.28 for the same period last year. Year to date revenues were $3,522,500, an increase of $1,491,500 or 73 percent over revenues of $2,031,000 for the same period last year. "Second quarter results reflect the continuing demand for our document management solutions. We are expanding our sales reach in the US in order to address potential future fluctuations resulting from long sales cycles," said Peter Jordan Peter Jordan (sometimes known as Rocki Rolletti) is best known for the work series It's a Living, which aired on CBC Television from 1989 to 2003. Peter was also a regular contributor to CBWT's 24Hours LateNight program in the 1980s. , Microstar's Chairman & 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. . "We are also closely tracking XML XML in full Extensible Markup Language. Markup language developed to be a simplified and more structural version of SGML. It incorporates features of HTML (e.g., hypertext linking), but is designed to overcome some of HTML's limitations. as it develops into a new and powerful language for the internet. XML is a subset A group of commands or functions that do not include all the capabilities of the original specification. Software or hardware components designed for the subset will also work with the original. of SGML SGML in full Standard Generalized Markup Language Markup language for organizing and tagging elements of a document, including headings, paragraphs, tables, and graphics. , one of our core competencies A core competency is something that a firm can do well and that meets the following three conditions specified by Hamel and Prahalad (1990):
Jordan, officially Hashemite Kingdom of Jordan, kingdom (2005 est. pop. 5,760,000), 35,637 sq mi (92,300 sq km), SW Asia. It borders on Israel and the West Bank in the west, on Syria in the north, on Iraq in the northeast, and on Saudi said. Microstar provides services and technology to the growing information publishing market. The company specializes in systems using the international document markup language markup language Standard text-encoding system consisting of a set of symbols inserted in a text document to control its structure, formatting, or the relationship among its parts. The most widely used markup languages are SGML, HTML, and XML. , SGML and the new Web standard, XML. Microstar Software Ltd. is listed on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. (MSS). A summary of results follows:
Consolidated Balance Sheet (in thousands)
(unaudited)
As at
July 31 Jan 31
1997 1997
ASSETS
Current Assets
Cash and temporary investments $ 2,094.8 $ 1,731.1
Accounts receivable 1,726.4 1,310.3
Unbilled receivables 3.6 26.1
Prepaid Expenses 87.0 103.7
------------ -----------
3,911.8 3,171.2
Recoverable investment tax credits 355.1 355.1
Capital assets 567.8 634.6
------------ -----------
$ 4,834.7 $ 4,160.9
------------ -----------
------------ -----------
Liabilities and shareholders' equity
Current liabilities
Accounts payable and accrued
liabilities $ 587.7 $ 467.2
Deferred revenue 228.0 230.8
------------ -----------
815.7 698.0
------------ -----------
Shareholders' equity
Share capital 5,873.0 5,873.0
Retained earnings (deficit) (1,854.0) (2,410.1)
------------ -----------
4,019.0 3,462.9
------------ -----------
$ 4,834.7 $ 4,160.9
------------ -----------
------------ -----------
Consolidated Statement of Earnings and Retained Earnings
(in thousands, except per share data)
(unaudited)
Three months ended Six months ended
July 31 July 31
1997 1996 1997 1996
Revenues $ 1,672.9 $ 1,145.8 $ 3,522.5 $ 2,031.0
---------- ---------- ---------- ---------
Operating expenses
Selling, general and
administrative 1,136.3 1,078.7 2,165.9 1,753.4
Research and
development 228.8 528.6 503.8 1,061.0
Material costs 13.1 17.6 221.4 28.6
Amortization of capital
assets 45.2 64.0 100.1 130.3
---------- ---------- --------- ----------
Total operating
expenses 1,423.4 1,688.8 2,991.2 2,973.3
---------- ---------- --------- ----------
Earnings (loss) from
operations 249.5 (543.1) 531.3 (942.3)
Interest 14.9 35.3 24.8 83.8
---------- ---------- --------- ----------
Earnings (loss) before
taxes 264.4 (507.8) 556.1 (858.5)
---------- ---------- --------- ----------
Income tax expense 111.0 - 233.5 -
Utilization of tax loss
carryforwards (111.0) - (233.5) -
---------- ---------- --------- ---------
Net earnings (loss) 264.4 (507.8) 556.1 (858.5)
Opening retained earnings
(deficit) (2,118.4) (188.5) (2,410.1) 162.2
---------- ---------- --------- ---------
Closing deficit $(1,854.0) $ (696.3) $(1,854.0) $ (696.3)
---------- ---------- --------- ---------
---------- ---------- --------- ---------
Basic earnings (loss) per
share $ 0.08 $ (0.16) $ 0.18 $ (0.28)
Common shares
outstanding 3,096.8 3,092.4 3,096.8 3,092.4
There is no material dilutive effect Dilutive effect Result of a transaction that decreases earnings per common share (EPS). on the earnings per share on the exercise of the options. CONTACT: Microstar Software Limited 3775 Richmond Richmond, cities, United States Richmond. 1 City (1990 pop. 87,425), Contra Costa co., W Calif., on San Pablo Bay, an inlet of San Francisco Bay; inc. 1905. Rd., 613/596-2233 613/596-5934 (FAX) |
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