Rainbow Technologies Announces 35% Increase In Earnings For Q3 1997.IRVINE Irvine, town, Scotland Irvine (ûr`vĭn), town (1991 pop. 32,507), North Ayrshire, SW Scotland, on the Irvine River estuary. Industries include iron and brass foundries. Other products are chemicals, electric goods, and clothing. , Calif.--(BUSINESS WIRE)--Oct. 21, 1997--Rainbow Technologies 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 :RNBO), Tuesday Tuesday: see week. announced third quarter 1997 revenues increased 17% to $22,256,000, as compared with $19,082,000 for the same period in 1996. Net income per share increased 35% to $0.35 for the quarter ended Sept. 30, 1997, as compared with $0.26 for the corresponding 1996 period. "During the third quarter of 1997, our software protection product revenues increased by 5%, with unit shipments up 18%. The Asia Pacific region grew at 33% while revenues in other international markets were impacted by the strong dollar. "Our information security revenues grew at 43% for the quarter. We continued to experience increased sales of network security products to the government. During the quarter, we introduced and made delivery of our new satellite communication product line to commercial customers," said Patrick Fevery Fe´ver`y a. 1. Feverish. , chief financial officer. Rainbow Technologies is the leading provider of security solutions for the information age. Its Sentinel software protection products are the world's No. 1 solution to software piracy The illegal copying of software for distribution within the organization, or to friends, clubs and other groups, or for duplication and resale. The software industry loses billions of dollars each year to piracy, and although it may seem innocent enough to install an application on a . It also provides information security solutions for satellite communications, 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 , intranets and electronic commerce. For more information, visit the company's Web site at www.rainbow.com . -0- The statements made in this news release could be forward looking statements based on expectations that involve a number of risks and uncertainties. The factors that could cause actual results to differ materially include the following: economic conditions and growth in the personal computer hardware and software industry; competitive factors and pricing pressures; changes in product mix; the timely development and acceptance of new products; changes in government procurement Government procurement, also called public tendering, is the procurement of goods and services on behalf of a public authority, such as a government agency. With 10 to 15% of GDP in developed countries, and up to 20% in developing countries, government procurement accounts ; and the risks described from time to time in the company's SEC reports, which include the Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. . -0-
RAINBOW TECHNOLOGIES INC.
Financial Highlights
(Unaudited)
Three Months Ended Nine Months Ended
September 30, September 30,
1997 1996 1997 1996
Total revenues $22,256,000 $19,082,000 $65,883,000 $60,513,000
Net income $ 2,787,000 $ 2,049,000 $ 8,033,000 $ 7,556,000
Net income
per share $ 0.35 $ 0.26 $ 1.01 $ 0.94
Average number
of shares
outstanding 8,033,000 8,030,000 7,976,000 8,068,000
FINANCIAL INFORMATION BY BUSINESS SEGMENT
Software Information
Protection Security IBEST Consolidated
Quarter ended Sept. 30, 1997
Revenues $14,741,000 $ 7,314,000 $ 201,000 $22,256,000
Operating Income 4,176,000 303,000 (72,000) 4,407,000
Quarter ended Sept. 30, 1996
Revenues $13,981,000 $ 5,101,000 $ -- $19,082,000
Operating Income 2,872,000 932,000 -- 3,804,000
Nine months ended Sept. 30, 1997
Revenues $44,688,000 $20,983,000 $ 212,000 $65,883,000
Operating Income 11,616,000 1,718,000 (997,000) 12,337,000
Nine months ended Sept. 30, 1996
Revenues $43,288,000 $17,225,000 $ -- $60,513,000
Operating Income 9,666,000 2,734,000 -- 12,400,000
CONTACT: Rainbow Technologies Inc., Irvine Ann ANN, Scotch law. Half a year's stipend over and above what is owing for the incumbency due to a minister's relict, or child, or next of kin, after his decease. Wishaw. Also, an abbreviation of annus, year; also of annates. In the old law French writers, ann or rather an, signifies a year. Jones, 714/450-7350 Fax: 714/753-9507 E-mail: ajones@rainbow.com Web Site: http://www.rainbow.com |
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