Mobius Management Systems, Inc. Returns to Profitability; Fourth Quarter EPS Reaches $0.04 Per Share Compared with a Loss of $0.13 Per Share Last Year.Business Editors RYE, N.Y.--(BUSINESS WIRE)--July 25, 2001 Fiscal Year 2001 Revenues Advance 23.3% to Record $74.2 million Mobius Management Systems, Inc. (Nasdaq: MOBI MOBI Mobile (Internet Top Level Domain) MOBI Molecular Orbital Bond Index MOBI Microgravity Observations of Bubble Interaction MOBI Model Based Interface MOBI Object Intelligent Model MOBI Message Oriented Broker Interface ), a leading provider of software that supports content-intensive e-business (Electronic-BUSINESS) Doing business online. The term is often used synonymously with e-commerce, but e-business is more of an umbrella term for having a presence on the Web. applications, today announced results for its fourth quarter and fiscal year 2001. For the fiscal year ended June June: see month. 30, 2001, total consolidated revenues increased 23.3% to a record $74.2 million from $60.2 million for the prior year. Software license revenues for fiscal year 2001 advanced 26.8% to $39.3 million. Net loss for the twelve months ended June 30, 2001 decreased by 83.3% to $0.11 per diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. share or $1.99 million. Mitchell Mitchell, city (1990 pop. 13,798), seat of Davison co., SE S.Dak.; inc. 1881. Mitchell is a trade, distribution, and shipping center for a dairy and livestock area. Gross, president 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 Mobius, said, "Our customers, which include some of the world's largest international corporations and government agencies, believe that the Mobius ViewDirect technology provides an attractive return on investment. We feel that the market is responding to ViewDirect technology's ability to improve performance and productivity across a range of enterprise applications." Continuing, Mr. Gross said, "I am encouraged that Mobius returned to profitability in the fourth quarter through increased sales productivity, attention to expenses and without resorting to an across-the-board reduction in force." Total consolidated revenues for the fourth fiscal quarter ended June 30, 2001 were $19.9 million, compared with $18.5 million for the quarter ended June 30, 2000, a 7.9% increase. Software license revenues for the quarter were $10.7 million compared to $10.8 million in last year's fourth quarter. The company recorded net income of $792,000, or $0.04 per diluted share, as compared to a net loss of $2.4 million or $0.13 per diluted share in the same period last year. Recent Highlights: -- KeyCorp Selects Mobius ViewDirect for Enterprise Content Management Solution: KeyCorp (NYSE: KEY), one of the nation's largest multi-line financial services companies, has licensed Mobius ViewDirect(R) software as a strategic solution for the management, presentation and distribution of enterprise content. -- Mobius and Princeton eCom Alliance Offer End-to-End eBilling: Princeton eCom, a leading provider of electronic billing and payment services, forms a marketing alliance with Mobius that will deliver a comprehensive electronic bill presentment and payment (EBPP) solution to banks and billers. -- Mobius Announces Siebel Validation: Siebel Systems, Inc (Nasdaq:SEBL), the world's leading provider of eBusiness applications software, has validated the interface between its eBusiness Applications and Mobius's ViewDirect(R)for Networks software. The Siebel Validation Program evaluates and documents integrated third-party solutions by putting them through rigorous technical scrutiny. Mobius is a Siebel Premier Alliance Software Partner. Company Outlook The following statements are based on current expectations. These statements are forward-looking for·ward-look·ing adj. Concerned with or making provision for the future: forward-looking educators; a forward-looking corporate plan. Adj. 1. , and actual results may differ materially. -- The Company currently expects that total revenue for calendar year 2001 will be approximately $80 million, with diluted earnings per share between $0.05 and $0.12. Conference Call Information Mobius will hold its quarterly conference call today at 4:30 PM EDT EDT abbr. Eastern Daylight Time EDT Eastern Daylight Time EDT n abbr (US) (= Eastern Daylight Time) → hora de verano de Nueva York EDT to discuss quarterly and year-end year-end also year·end n. The end of a year. adj. Occurring or done at the end of the year: a year-end audit. Noun 1. results and will provide financial guidance for the fiscal year 2002. The conference call will be available for playback Playback could mean:
About Mobius Mobius Management Systems, Inc. (www.mobius.com) is a leading provider of Web-based software for managing and presenting enterprise content. The Company's products support a broad range of e-business and application requirements, including customer relationship management, enterprise resource planning See ERP. (application, business) Enterprise Resource Planning - (ERP) Any software system designed to support and automate the business processes of medium and large businesses. and electronic bill presentment and payment See EBPP. . ViewDirect(R) products store and integrate documents of different formats, presenting and distributing them to employees, customers and business partners over the Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the and corporate networks. Click-n-Done(TM) provides a "next generation" electronic bill presentment and payment solution that supports multiple e-billing (Electronic-billing) Paying bills by mail. See EBPP. models. Gartner Group (company) Gartner Group - One of the biggest IT industry research firms. Address: Connecticut, USA. has consistently cited Mobius for leadership in integrated document archive and retrieval systems (IDARS IDARS Integrated Document Archive and Retrieval System ). Mobius products are used by more than one million customers and employees of nearly 1,300 organizations worldwide. More than half of the Fortune 100 companies use Mobius software. The Company, founded in 1981, is headquartered in Rye, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , with ten domestic offices, as well as foreign subsidiaries in England England, the largest and most populous portion of the United Kingdom of Great Britain and Northern Ireland (1991 pop. 46,382,050), 50,334 sq mi (130,365 sq km). It is bounded by Wales and the Irish Sea on the west and Scotland on the north. , France, Germany, Italy, Sweden, Switzerland, Benelux, Australia and Japan. 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. Statements contained in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements involve risks and uncertainties. In particular, any statements contained herein regarding expectations with respect to future sales and profitability, as well as product development and/or introductions, are subject to known and unknown risks, uncertainties, and contingencies Contingencies (ISSN 1048-9851) is the bimonthly magazine of the American Academy of Actuaries, providing a large and diverse readership with general interest and technical articles on a wide range of issues related to the actuarial profession. , many of which are beyond the Company's control, which may cause actual results, performance, or achievements to differ materially from those projected or implied in such forward-looking statements. Important factors that might affect actual results, performance, or achievements include, among other things, overall economic and business conditions, the demand for the Company's goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. , including budget allocations for new software products especially within larger corporate environments which have traditionally licensed the company's products, technological advances and competitive factors in the markets in which the Company competes, including price competition from products providing similar functionality to Mobius' products as well as competition for experienced, seasoned employees (including retention) to support the company's key business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets , ongoing product development and growth, and acceptance and or adoption of the company's new internet See Web 2.0 and Internet2. products and services. These risks and uncertainties are described in detail from time to time in Mobius' filings with the Securities and Exchange Commission, including its Quarterly Report on Form 10-Q Form 10-Q See 10-Q. , filed on May 15, 2001. Mobius accepts no obligation to update these forward-looking statements and does not intend to do so. All trademarks are the property of their respective owners.
MOBIUS MANAGEMENT SYSTEMS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
Three Months Twelve Months
Ended Ended
(unaudited)
6/30/01 6/30/00 6/30/01 6/30/00
Revenues:
Software
license
revenues $10,717 $10,810 $39,321 $31,018
Maintenance
revenues 8,595 7,302 33,174 27,785
Other revenues 616 365 1,717 1,402
Total revenues 19,928 18,477 74,212 60,205
Cost of revenues:
Software license
revenues 354 347 1,219 946
Maintenance and
other revenues 1,657 1,599 6,148 6,070
Total cost of
revenues 2,011 1,946 7,367 7,016
Gross profit 17,917 16,531 66,845 53,189
Operating expenses:
Sales and
marketing 10,824 12,932 44,886 44,289
Research and
development 3,875 4,415 16,267 14,823
General and
administrative 2,615 3,102 10,460 12,086
Total operating
expenses 17,314 20,449 71,613 71,198
Income (loss) from
operations 603 (3,918) (4,768) (18,009)
Miscellaneous
income (principally
interest), net 607 677 2,891 2,916
Investment Impairment -- (281) (718) (2,220)
Income (loss) before
income taxes 1,210 (3,522) (2,595) (17,313)
Provision (benefit)
for income taxes 418 (1,098) (605) (5,417)
Net income (loss) $792 $(2,424) $(1,990) $(11,896)
Basic weighted
average shares 18,239 18,065 18,225 17,988
Basic earnings
(loss) per share $0.04 $(0.13) $(0.11) $(0.66)
Diluted weighted
average shares 18,706 18,065 18,225 17,988
Diluted earnings
(loss) per share $0.04 $(0.13) $(0.11) $(0.66)
MOBIUS MANAGEMENT SYSTEMS, INC.
CONSOLIDATED BALANCE SHEETS
(in thousands)
6/30/01 6/30/00
Assets:
Current Assets:
Cash and cash equivalents $24,099 $ 21,380
Marketable securities 10,508 10,287
Accounts receivable, net 12,852 14,857
Software license installments,
current 9,317 9,836
Other current assets 2,304 3,804
Total Current Assets 59,080 60,164
Property and equipment, net 9,231 9,295
Software license installments,
non-current 5,216 7,992
Investments -- 531
Deferred income taxes, non-current 1,242 --
Other non-current assets 746 411
Total Assets $75,515 $ 78,393
Liabilities & Stockholders'
Equity
Current Liabilities:
Accounts payable and
accrued expenses $15,498 $ 15,046
Deferred revenues, current 16,950 16,488
Deferred income taxes, current 3,199 2,570
Total Current Liabilities 35,647 34,104
Deferred revenues, non-current 1,398 2,374
Deferred income taxes, non-current -- 1,324
Total Long Term Liabilities 1,398 3,698
Total Stockholders' Equity 38,470 40,591
Total Liabilities and
Stockholders' Equity $75,515 $78,393
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