SPSS Inc. Reports First Quarter 2002 Results.Business Editors CHICAGO--(BUSINESS WIRE)--May 1, 2002 SPSS A statistical package from SPSS, Inc., Chicago (www.spss.com) that runs on PCs, most mainframes and minis and is used extensively in marketing research. It provides over 50 statistical processes, including regression analysis, correlation and analysis of variance. Inc. (Nasdaq:SPSS), a worldwide provider of analytical analytical, analytic pertaining to or emanating from analysis. analytical control control of confounding by analysis of the results of a trial or test. technology, today announced results for the first quarter 2002. On a pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma basis, excluding acquisition-related and other non-recurring charges, and including the impact of the adoption of SFAS SFAS Statement of Financial Accounting Standards SFAS Special Forces Assessment and Selection SFAS Student Financial Aid Services SFAS Sport Fishing Association of Singapore SFAS Safety Features Actuation System SFAS Statewide Fixed Assets System No. 142 (Goodwill and Other Intangible Assets Intangible Asset An asset that is not physical in nature. Notes: Examples are things like copyrights, patents, intellectual property, and goodwill. These are the opposite of tangible assets. ), diluted earnings per share diluted earnings per share An earnings measure calculated by dividing net income less preferred stock dividends for a period by the average number of shares of common stock that would be outstanding if all convertible securities were converted into shares of and revenues for the quarter ended March 31, 2002 were $0.00 and $49.4 million, respectively. These results compare to analyst expectations of earnings of between $0.03 and $0.08 and revenues of between $47.0 and $50.0 million. For the same period last year, pro forma earnings pro forma earnings Income not necessarily calculated in accordance with generally accepted accounting principles. For example, a company might report pro forma earnings that exclude depreciation expense and nonrecurring expenses such as restructuring costs. per share and revenue were $0.05 and $44.1 million, respectively, and GAAP GAAP See: Generally Accepted Accounting Principles GAAP See generally accepted accounting principles (GAAP). loss and revenues were ($0.77) and $36.5 million, respectively.
Summary of Pro Forma Results
Exclude acquisition and other non-recurring charges, include
full implementation of accounting interpretations on revenue
recognition and impact of adoption of SFAS No. 142
(Unaudited; in millions, except for per share)
Three months ended Mar. 31, 2001
2002 2001 Year/year % change
Net revenues $ 49.4 $ 44.1 12%
Operating income (loss) ($ 0.2) $ 2.0 -112%
Net income (loss) ($ 0.05) $ .73 -107%
Diluted EPS $ 0.00 $ 0.05 -100%
Weighted shares
outstanding 16,782 14,240 18%
(diluted)
Summary of Results
Include acquisition and other non-recurring charges, show
GAAP proscribed implementation of accounting interpretations on
revenue recognition and implementation of SFAS No. 142 in 2002
(Unaudited; in millions, except for per share)
Three months ended Mar. 31, 2001
2002 2001 Year/year % change
Net revenues $ 49.6 $ 36.5 36%
Operating income
(loss) ($ 4.8) ($ 15.9) -70%
Net income (loss) ($ 2.5) ($ 10.5) 75%
Diluted EPS ($ 0.15) ($ 0.77) 81%
Weighted shares
outstanding 16,782 13,639 23%
"We were pleased to see revenues towards the high-end high-end adj. Informal 1. Appealing to sophisticated and discerning customers: a high-end department store; high-end video equipment. 2. of expectations," said Jack Noonan The term Noonan might refer to: People
adj. Being in due proportion; proportional. tr.v. pro·por·tion·at·ed, pro·por·tion·at·ing, pro·por·tion·ates To make proportionate. matter the most, it was good to see double-digit dou·ble-dig·it adj. Being between 10 and 99 percent: double-digit inflation. growth from many of our markets outside of North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. -- particularly when this reported growth was reduced by changes in foreign currency exchange rates." Noonan continued, "But we were not at all pleased with our having about $1.5 million more in expense than we planned in the quarter, much of it related to the integration of our most recent acquisitions. This added expense, combined with the loss of approximately ap·prox·i·mate adj. 1. Almost exact or correct: the approximate time of the accident. 2. 3 cents from foreign currency, produced profitability numbers below expectations. While the cost overage Overage Apples mainly to convertible securities. Difference between how much common stock one party must sell and the other wishes to buy for the same amount of convertible in a swap. wasn't was·n't Contraction of was not. wasn't was not wasn't be huge, it is being addressed." Noonan continued, "As anticipated, 2002 continues to provide a difficult climate for many software companies. We retain our conservative outlook for the remainder of the year, as visibility around customer spending remains unclear. We also retain our excitement for the opportunity surrounding sur·round tr.v. sur·round·ed, sur·round·ing, sur·rounds 1. To extend on all sides of simultaneously; encircle. 2. To enclose or confine on all sides so as to bar escape or outside communication. n. predictive analytics Predictive analytics encompasses a variety of techniques from statistics and data mining that process current and historical data in order to make “predictions” about future events. , but just can't tell when a change in spending patterns will turn this opportunity into more and larger sales."
Positives Negatives
Good international revenue Changes in foreign currency
growth from 1Q01 (particularly exchange rates reduced pro
in the United Kingdom and forma earnings by 3 cents.
Japan); improved performance
among Corporate US and higher
education accounts.
Compared to 1Q01 and Compared to 1Q01 and sequentially,
sequentially, solid growth in declines in revenues from
sales of data mining tools, ShowCase and NetGenesis products
including Clementine and SPSS
server versions
Increase in average deal size Flat revenues from transactions
from previous quarters greater than $100K from previous
quarters.
Improvement over 4Q01 in Small increase in revenues
revenues from AOL (4%) from traditional
related transactions, market research business
from $1.4 to $1.7 million
Noonan commented on the company's acquisition during the quarter of LexiQuest, Inc., a leader in the development of innovative text mining software. He said, "Three new sales of LexiQuest technology closed in February February: see month. and March totaling about $350,000. This acquisition combines LexiQuest's proven expertise in linguistics-based text mining and SPSS data mining capabilities, strengthening our leadership position in predictive analytics by tapping into volumes of information in text documents that until now were not analyzable an·a·lyze tr.v. an·a·lyzed, an·a·lyz·ing, an·a·lyz·es 1. To examine methodically by separating into parts and studying their interrelations. 2. Chemistry To make a chemical analysis of. 3. in a systematic way." Noonan provided an update on the company's relationship with its strategic partner, Siebel Systems Siebel is a brand name of Oracle Corporation. Siebel Systems, Inc., founded by Thomas Siebel in 1993, was principally engaged in the design, development, marketing and support of CRM applications. . He said, "We had hoped to close a couple of opportunities in Q1 with Siebel For the tech company, see . Siebel, originally Flugzeugbau Halle, was a German aircraft manufacturer in Halle an der Saale. Siebel aircraft included:
(2) (Systems Management Server) Systems management software from Microsoft that runs on Windows NT Server. ), which offers a set of predefined predictive models (or "scenarios") for general business users to interact Interact can refer to:
Fall of Interact While the Game Boy device was first released, Interact acquired the rights to sell Datel's Action Replay with data from their operational Customer Relationship Management (CRM (Customer Relationship Management) An integrated information system that is used to plan, schedule and control the presales and postsales activities in an organization. ) systems to personalize per·son·al·ize tr.v. per·son·al·ized, per·son·al·iz·ing, per·son·al·iz·es 1. To take (a general remark or characterization) in a personal manner. 2. To attribute human or personal qualities to; personify. customer interactions. SMS is scheduled for release during the third quarter of 2002. Significant sales for the quarter include:
Hitachi Seisakujo, part of Tokyo-based Hitachi, Ltd., the worlds
leading global electronics company, purchased Clementine and other
SPSS products for general research purposes.
Vodafone, the largest mobile telecommunications company in the
world, has made SPSS software the foundation of its data-mining
workbench of choice in Spain.
Royal Bank of Scotland International (RBSI), part of the Royal
Bank of Scotland Group, the second largest UK bank, purchased
additional ShowCase software to further enhance its capabilities
in customer profitability analysis and debt tracking.
Avanturo, a financial and insurance planning portal and online
community, as well as a joint venture of Deutsche Telekom and the
Ergo Insurance Group, purchased SPSS analytical software and
services to help gain insight into their customer segments and
behavior.
Oglebay Norton, an industrial minerals company headquartered in
Cleveland, Ohio, will implement a ShowCase enterprise analytical
solution to facilitate more effective decision-making.
CNAM-TS, the French national healthcare administration
organization, selected SPSS data mining and statistical tools for
use in a large-scale effort to track the nation's healthcare
spending.
Hong Kong-based, AMI Group, Asia's premier market research group,
will standardize on SPSS technology across its operations spanning
nine countries.
Philips Consumer Electronics extended its license for NetGenesis
web analytics software to deliver insight to the organization's
management team worldwide. In fourth quarter 2001, the SPSS was
selected to deliver analytics and reporting services to Philips
Consumer Electronics.
The economics faculty at the University of Barcelona selected
Clementine as its preferred data-mining tool. The department's
students will also use the software for research developing their
skills in using data mining technology
Additional transactions completed during the first quarter include: The Department of Health and Human Services Noun 1. Department of Health and Human Services - the United States federal department that administers all federal programs dealing with health and welfare; created in 1979 Health and Human Services, HHS of the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Federal Government, Caterpillar caterpillar (kăt`əpĭl'ər, kăt`ər–), common name for the larva of a moth or butterfly. Caterpillars have distinct heads and are segmented and wormlike. , Inc., SBC (1) (SBC Communications Inc., San Antonio, TX, www.sbc.com) A large, national telecommunications company that grew from a multitude of local and regional companies, including Southwestern Bell, Pacific Bell and Nevada Bell, into a single, unified brand by 2002. Communications Inc., Grainger Noun 1. Grainger - United States composer (born in Australia) who lived in London and collected English folk songs (1882-1961) George Percy Aldridge Grainger, Percy Aldridge Grainger, Percy Grainger , Monitor Group, Cartier, American American, river, 30 mi (48 km) long, rising in N central Calif. in the Sierra Nevada and flowing SW into the Sacramento River at Sacramento. The discovery of gold at Sutter's Mill (see Sutter, John Augustus) along the river in 1848 led to the California gold rush of Suzuki Suzuki ever faithful to her mistress, especially in sorrow. [Ital. Opera: Puccini, Madama Butterfly, Westerman, 358] See : Loyalty Motor Corp., The Tommy Hilfiger Thomas Jacob Hilfiger (born March 24, 1951 in Elmira, New York) is a world-famous American fashion designer and creator of the eponymous "Tommy Hilfiger" and "Tommy" brands. Biography Hilfiger was born March 24, 1951 and raised in Elmira, New York. Corporation, West Marine Products, and D&K Healthcare Resources, Inc. Edward Edward killed his father at his mother’s instigation. [Br. Balladry: Edward in Benét, 302] See : Patricide Hamburg Hamburg, city, Germany Hamburg (häm`b  rkh), officially Freie und Hansestadt Hamburg (Free and Hanseatic City of Hamburg), city (1994 pop. , SPSS executive vice president and chief financial
officer, explained that the cost overruns Noun 1. cost overrun - excess of cost over budget; "the cost overrun necessitated an additional allocation of funds in the budget"cost - the total spent for goods or services including money and time and labor in the quarter were distributed across a number of different operational areas. He said, "We thought the expense from the acquired entities would come out more quickly than it did. There are a lot of moving parts Moving parts are the components of a device that undergo continuous or frequent motion, most commonly rotation. "Parts" only include the mechanical components which does not include fuel, or any other gas or liquid. to the integration process, and when your cost estimates related to each are off by even small amounts, the cumulative effect can be material in a quarter with a small margin for error." Hamburg further elaborated e·lab·o·rate adj. 1. Planned or executed with painstaking attention to numerous parts or details. 2. Intricate and rich in detail. v. e·lab·o·rat·ed, e·lab·o·rat·ing, e·lab·o·rates v. on the company's performance in each of its revenue reporting categories during the current quarter: -- Analytical Solutions: 57 percent growth from pro forma revenues in the first quarter 2001; up 16% on a fully comparable basis excluding revenues from NetGenesis and LexiQuest. Improvement was seen in sales of Clementine and other enterprise data mining products, both internationally and in the United States. These increases were partially offset by the absence of any major OEM deals in the quarter and the small amount (under $1 million) of new NetGenesis license revenue. Yet many customers purchased services rather than software, which is common when tight budgets focus attention on enhancing current software investments rather than making new ones. -- Market Research. Up 30 percent from pro forma market research revenues in the first quarter 2001 due to $1.7 million of AOL-related revenues; otherwise up 4%, reflecting the continued difficult climate for completing high-ticket sales to information technology departments in market research firms. The Online (AOL) business continued to draw most of its revenue in the quarter from the customer base inherited from AOL/DMS, but the pipeline of new prospects grew nicely from December 2001 despite price pressure from new competitors. -- Statistics: Steady demand for comparatively low-ticket, shrink-wrap products produced a 2 percent increase from pro forma statistics revenues in the same period last year. -- ShowCase. Down 6 percent from the March 2001 quarter and 2 percent sequentially, reflecting continued weakness in the middle market for higher-ticket business intelligence software and services. Looking at other financial aspects of the quarter and fiscal year, Hamburg made the following comments, which, unless noted, reference pro forma results excluding acquisition-related and other non-recurring charges:
Topic Comments
Cost of Increase primarily due to AOL sample costs, Hyperion
revenues Solutions royalties, the amortization of acquired
technology assets, and royalties from NetGenesis
products
Sales, Primarily reflect the addition of staff from AOL/DMS
marketing, transaction as well as NetGenesis and LexiQuest
and services acquisitions; partially offset by reductions in the
expenses number of sales and professional services personnel,
mostly related to ShowCase activities
Research and Primarily reflect the addition of staff from the
development NetGenesis and LexiQuest acquisitions as well as
expenses compensation increases in the second half of 2001;
partially offset by staff reductions made throughout
2001
General and Primarily reflect the addition of staff from the
administrative expansion of the corporate executive group and
expenses NetGenesis acquisition; partially offset
by the elimination of goodwill amortization with the
implementation of SFAS No. 142
Special G&A Costs associated with the LexiQuest and NetGenesis
and Merger- transactions: professional fees, severance payments,
related retention and other bonuses, related travel and
charges meetings expenses
Other income Interest income, partially offset by interest expense
& income and a small loss to currency translations. Effective
taxes tax rate of 36%
Cash Reduced from $31.2 million in December 2001 by
payments related to the LexiQuest ($4.5) and
NetGenesis ($2M) acquisitions, AOL sample ($1.8M),
funding of Illumitek subsidiary ($1M), and capital
expenditures ($2.5M)
Days Sales 99 days average rate (88 spot rate). Compares to 112
Outstanding average rate (101 spot rate) in December 2001, 117
(106) in September 2001 and 114 (134) in December
2000. A/R reduced from December 2001 despite higher
revenues and the addition of NetGenesis, AOL, and
LexiQuest related receivables
Current & Deferred tax assets due to the deferral of revenue
other assets with the application of accounting interpretations on
revenue recognition; includes goodwill related to the
ISL, AOL, NetGenesis, and LexiQuest transactions;
includes intangible assets from the AOL, NetGenesis,
and LexiQuest transactions; adds fixed assets from
LexiQuest acquisition
Capitalized Includes the determined value of the technologies
software acquired in the AOL transaction as well as the
NetGenesis and LexiQuest acquisitions. Target
capitalization for the fiscal year is 10%-12% of
research and development costs
Deferred Down from December 2001 with lower reported revenues
revenues
Current Accounts payable reduced from December 2001 despite
liabilities AOL and NetGenesis integrations; reflects addition of
liability to AOL/TW in 2002 and accrued liabilities
from NetGenesis and LexiQuest
Noncurrent Shows long-term liability to AOL and capital leases
liabilities from NetGenesis
Staff Including staff assumed in the LexiQuest acquisition,
1,432 full-time employees as of March 31, 2002; 296
are sales representatives (230 quota-carrying). 59%
are employed in North America (31% at headquarters in
Chicago), 41% in international offices. Compares to
1,385 full-time staff, 289 sales representatives (229
quota carrying) in December 31, 2001, and 1,330
full-time staff, 321 sales representatives (288
quota-carrying) in March 31, 2001
For the quarter ending June June: see month. 30, 2002, Hamburg projected that the company would show revenues of between $50 and $53 million and diluted earnings per share of between $0.07 and $0.15. These figures compare to pro forma revenues and earnings in the second quarter 2001 of $47.1 million and $0.07, respectively, and GAAP revenues and loss of $44.0 million and ($0.20), respectively. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement under 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 within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended a·mend v. a·mend·ed, a·mend·ing, a·mends v.tr. 1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive. 2. : Certain statements in this press release are 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. . Such statements can be identified by phrases such as "should be," "planning" and "expects." Such statements also involve known and unknown risks, including market conditions and competition, which may cause the company's actual results, performance, achievements, or industry results, to be materially different than any future results, performance or achievements expressed or implied Inferred from circumstances; known indirectly. In its legal application, the term implied is used in contrast with express, where the intention regarding the subject matter is explicitly and directly indicated. in or by such forward-looking statements. By way of example and not limitation, known risks and uncertainties include changes in: market conditions, especially in Asia; changes and/or and/or conj. Used to indicate that either or both of the items connected by it are involved. Usage Note: And/or is widely used in legal and business writing. product demand and acceptance; the competitive environment; product release schedules; and currency fluctuations. In light of these and other risks and uncertainties, the inclusion of a forward-looking statement in this release should not be regarded as a representation by the company that any future results, performance or achievements will be attained at·tain v. at·tained, at·tain·ing, at·tains v.tr. 1. To gain as an objective; achieve: attain a diploma by hard work. 2. . The company assumes no obligation to update the information contained in this press release. Additional information concerning factors that could cause actual results to materially differ from those in the forward-looking statements is contained in the company's periodic reports (copies of which are available from SPSS upon request). SPSS Inc. will hold an investor conference call to discuss the contents of this news release on May 1, 2002 at 9:00 a.m. CDT CDT abbr. Central Daylight Time CDT Central Daylight Time CDT n abbr (US) (= Central Daylight Time) → hora de verano del centro; (BRIT . To participate, please dial 800-967-7134 in the United States and 719-457-2625 internationally. A replay will be available for one week after the call. For access, dial 888-203-1112 in the United States and 719-457-0820 internationally. Use access code 402085 for the replay. The live call and replay will also be available online at www.spss.com/invest. SPSS Inc. will hold an investor day at headquarters in Chicago Chicago, city, United States Chicago (shĭkä`gō, shĭkô`gō), city (1990 pop. 2,783,726), seat of Cook co., NE Ill., on Lake Michigan; inc. 1837. on June 14, 2002. Participants will be able to meet senior staff, see technologies demonstrated and ask questions. All are invited. About SPSS Inc. SPSS Inc. (Nasdaq:SPSS) headquartered in Chicago, IL, USA, is a multinational multinational Of, relating to, or being a company with subsidiaries or other operations in a number of countries. The diversity of operations of such companies subjects them to unique risks (for example, exchange rate changes or government nationalization) computer software company providing technology that transforms data into insight through the use of predictive analytics and other data mining techniques. The company's solutions and products enable organizations to manage the future by learning from the past, understanding the present, as well as predicting potential problems and opportunities. For more information, visit www.spss.com.
SPSS Inc.
Consolidated Statements of Income
(in thousands, except per share)
(unaudited) Three Months Ended
Pro Forma March 31 Yr/Yr % of total revenues
2002 2001 % Chg. 2002 2001
---- ---- ----- ---- ----
Net revenues:
Analytical solutions 10,161 6,482 57% 21% 15%
Market research 8,332 6,403 30% 17% 15%
Statistics 21,300 20,943 2% 43% 47%
ShowCase 9,641 10,283 -6% 20% 23%
------- -------
Total net revenues 49,434 44,111 12% 100% 100%
Operating expenses:
Cost of revenue 5,780 3,294 75% 12% 8%
Sales, marketing and
services 30,405 28,825 5% 61% 65%
Research & development 7,913 7,180 10% 16% 16%
General and
administrative 5,563 2,860 95% 11% 6%
------- -------
Operating expenses 49,661 42,159 18% 100% 95%
------- -------
Operating income (loss) (227) 1,952 -112% - 5%
Other income (expense):
Net interest
income (expense) 139 (60) -332% - -
Other income (expense) 7 (755) -101% - -2%
------- -------
Other income (expense) 146 (815) -118% - -2%
Income (loss) before
income taxes (81) 1,137 -107% - 3%
Income tax expense
(benefit) (29) 409 -107% - 1%
------- -------
Net income (loss) (52) 728 -107% - 2%
Basic net income
(loss) per share 0.00 0.05 -100%
Shares used in
basic per share
computation 16,782 13,639 23%
Diluted net income
(loss) per share 0.00 0.05 -100%
Shares used in
diluted per share
computation 16,782 14,240 18%
SPSS Inc.
Consolidated Statements of Income
(in thousands, except per share)
(unaudited) Three Months Ended
March 31 Yr/Yr % of total revenues
2002 2001 % Chg. 2002 2001
---- ---- ------ ---- ----
Net revenues:
Analytical solutions 10,337 4,258 143% 21% 12%
Market research 8,332 3,339 150% 17% 9%
Statistics 21,300 18,582 15% 43% 51%
ShowCase 9,641 10,283 -6% 19% 28%
------ ------
Total net revenues 49,610 36,462 36% 100% 100%
Operating expenses:
Cost of revenues 5,848 4,738 23% 12% 13%
Sales and marketing 30,754 28,824 7% 62% 79%
Research and
development 8,108 7,180 13% 16% 20%
General and
administrative 5,960 3,302 80% 12% 9%
Special general
and administrative 1,655 1,967 -16% 3% 5%
Merger-related 1,903 6,337 -70% 4% 18%
Acquired in-process
technology 150 - 100% - -
------ ------
Operating expenses 54,378 52,348 4% 109% 144%
------ ------
Operating income (loss) (4,768) (15,886) -70% -9% -44%
Other income (expense):
Net interest
income (expense) 94 (60) -257% - -
Other income (expense) 7 (755) -101% - -2%
------ ------
Other income (expense) 101 (815) -112% - -2%
Income (loss) before
income taxes and
minority interest (4,667) (16,701) -72% -9% -46%
Income tax expense
(benefit) (1,680) (6,174) -73% -3% -17%
------- -------
Income (loss)
before minority
interest (2,987) (10,527) -72% -6% -29%
Minority interest 439 - 100% 1% -
------- -------
Net income (loss) (2,548) (10,527) 76% -5% -29%
Basic net income
(loss) per share -0.15 -0.77 81%
Shares used in
basic per share
computation 16,782 13,639 23%
Diluted net income
(loss) per share -0.15 -0.77 81%
Shares used in
diluted per share
computation 16,782 13,639 23%
SPSS Inc.
Consolidated Condensed Balance Sheet
(in thousands, except per share)
March 31 December 31
ASSETS 2002 2001
---- ----
Current assets: (unaudited)
Cash and cash equivalents 19,985 21,400
Marketable Securities 3,239 9,792
Accounts receivable, net 46,369 50,086
Inventories 3,237 3,217
Deferred tax assets, net 22,200 22,200
Prepaid expenses and other current assets 11,132 11,800
------- -------
Total current assets 106,162 118,495
Equipment and leasehold improvements, net 35,612 33,382
Capitalized software development costs, net 25,974 24,671
Other assets 79,168 75,462
------- -------
Total assets 246,916 252,010
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Notes payable 2,000 1,175
Accounts payable 9,447 9,786
Other current liabilities 41,084 34,771
Deferred revenues 45,646 47,145
Deferred income taxes 1,943 1,943
Other noncurrent liabilities 24,081 23,917
------- ------
Total liabilities 124,201 118,737
Stockholders' equity 122,715 133,273
-------- -------
Total liabilities and stockholders' equity 246,916 252,010
|
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion