Synavant Reports 2001 Third-Quarter Results.Business Editors & High Tech Writers ATLANTA--(BUSINESS WIRE)--Oct. 31, 2001 Revenue and EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become in line with Revised Guidance Ranges; Breakeven breakeven 1. The level of output or sales necessary to cover fixed expenses. Companies in industries that have high fixed costs and, consequently, high breakevens, such as automobile and steel manufacturing, are likely to exhibit large fluctuations or better EBITDA Expected in 2001 Fourth Quarter; $4.6 million of Restructuring Charges restructuring charge The expense of reorganizing a company's operations. A restructuring charge is an infrequent expense that generally results from asset writedowns or facility closings. Reported in 2001 Third Quarter SYNAVANT Inc. (Nasdaq:SNVT SNVT Standard Network Variable Types SNVT Short No Voltage Tester ), the global pioneer of Pharmaceutical Relationship Management (PRM PRM Partner Relationship Management PRM Parameter PRM Bureau of Population, Refugees and Migration (US State Department) PRM Partidul Romania Mare (Romania Mare Party) PRM Professional Risk Manager ) solutions for the biopharmaceutical and healthcare industries, today reported 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 revenue of $40.7 million and 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. before interest, taxes, depreciation and amortization (EBITDA) of minus $0.9 million for the quarter ended September September: see month. 30, 2001. Both financial measures are in line with previously issued guidance ranges and reflect continued progress toward positive EBITDA, which is expected in the 2001 fourth quarter. The company also reported restructuring charges of $4.6 million in the quarter as part of a restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). plan announced in August of this year. "Our restructuring actions are part of our overall business transformation process, focused on streamlining our decision-making decision-making, n the process of coming to a conclusion or making a judgment. decision-making, evidence-based, n a type of informal decision-making that combines clinical expertise, patient concerns, and evidence gathered from , increasing our customer focus and responsiveness and improving our operational efficiency," explained Wayne Wayne, city (1990 pop. 19,899), Wayne co., SE Mich., a suburb of Detroit, on the Lower Rouge River; inc. as a village 1869, and with surrounding areas as a city 1960. It has automobile and aircraft industries and other varied manufactures. P. Yetter, SYNAVANT's chairman and chief executive officer. "The actions we have taken this quarter have increased our ability to leverage market opportunities." Third-Quarter Pro Forma Results Pro forma results for the 2001 third quarter (Table 1) exclude spin-related costs of $0.7 million, a one-time one-time adj. 1. or one·time a. Occurring or undertaken only once: a one-time winner in 1995. b. loss of $0.9 million on the disposal of marketable securities Marketable Securities Very liquid securities that can be converted into cash quickly at a reasonable price. Notes: Marketable securities are very liquid as they tend to have maturities less than one year, and the rate at which these securities can be bought or sold has , restructuring charges of $4.6 million, and include certain adjustments to reflect SYNAVANT as if it were an independent company during the third quarter of 2000. Pro forma net income also includes the tax effect of the pro forma adjustments. Pro forma revenue totaled $40.7 million, a 5 percent decline from the 2000 third quarter, primarily due to a 13 percent decline in the Interactive Marketing segment. Pro forma EBITDA was minus $0.9 million, reflecting improvement compared with minus $3.0 million a year earlier and minus $1.0 million for the 2001 second quarter. Components of depreciation and amortization for the quarter were acquired software and goodwill amortization of $4.0 million and other depreciation of $1.3 million. In addition, FAS 86 software amortization of $0.5 million for the quarter is reflected in operating costs operating costs npl → gastos mpl operacionales . A pro forma net loss of $6.4 million, or $0.43 per share, was reported for the 2001 third quarter, compared with a pro forma net loss of $7.9 million, or $0.53 per share, a year ago. Nine-Months Pro Forma Results Pro forma results for the first nine months of 2001 (Table 2) exclude spin-related costs of $1.3 million, a one-time loss of $0.9 million on the disposal of marketable securities, restructuring charges of $4.6 million, and include certain adjustments to reflect SYNAVANT as if it were an independent company during the first nine months of 2000. Pro forma net income also includes the tax effect of the pro forma adjustments. Pro forma revenue totaled $131.5 million, 4 percent lower than the 2000 first nine months, and pro forma EBITDA was minus $3.8 million, compared with minus $4.3 million in the year-earlier period. A pro forma net loss of $21.9 million, or $1.47 per share, was posted in the 2001 first nine months, compared with a pro forma net loss of $20.5 million, or $1.38 per share, a year ago. "SYNAVANT's EBITDA performance in the 2001 third quarter reflected continued progress towards EBITDA profitability in spite of in opposition to all efforts of; in defiance or contempt of; notwithstanding. See also: Spite the difficult business conditions. While this environment has had a negative impact on the pace of Interactive Marketing spending and PRM purchase decision-making, we are encouraged by the selection of the joint SYNAVANT-Siebel service platform by two of our existing clients in the US, and by our prospects to penetrate new clients," said Craig Craig , Edward Gordon 1872-1966. British theatrical producer, director, and designer whose innovative productions and simplified stage designs influenced modern theater. Kussman, SYNAVANT's executive vice president, chief financial officer and chief administrative officer A chief administrative officer (CAO) is responsible for administrative management of private, public or governmental corporations. The CAO is one of the highest ranking members of an organization, managing daily operations and usually reporting directly to the chief executive . Restructuring and Other One-Time Charges Restructuring charges of $4.6 million were reported in the quarter associated with the company's actions announced on August 16, 2001 to simplify the senior leadership structure and optimize optimize - optimisation customer responsiveness and organizational effectiveness Organizational effectiveness is the concept of how effective an organization is in achieving the outcomes the organization intends to produce. The idea of organizational effectiveness is especially important for non-profit organizations as most people who donate money to non-profit . Additional restructuring and other one-time charges of up to $2.5 million are expected during the 2001 fourth quarter. Total anticipated charges are expected to be between $8.0 million and $12.0 million, in line with previous estimates. The company will continue to take strategic actions in response to its ongoing business transformation process and current market place conditions. Such actions could result in actual restructuring and other one-time charges being different from the expected amounts. Constant-Dollar Results The strengthening dollar, particularly against European European emanating from or pertaining to Europe. European bat lyssavirus see lyssavirus. European beech tree fagussylvaticus. European blastomycosis see cryptococcosis. currencies, adversely affected SYNAVANT's reported revenue by $0.8 million in the 2001 third quarter compared with the 2000 third quarter. On a constant-dollar, constant-portfolio basis, which reflects the divestiture The breakup of AT&T. By federal court order, AT&T divested itself on January 1, 1984 of its 23 operating companies, which became known as the Regional Bell Operating Companies (RBOCs). of EMRON EMRON Electro Magnetic Radiation Optimum Neutralizer (RADIAX) in fourth-quarter 2000 and the impact of foreign currency exchange, 2001 third-quarter pro forma revenue was 1 percent below the year-earlier quarter. In the first nine months of 2001, constant-dollar, constant-portfolio pro forma revenue was 2% above the first nine months of 2000. Balance Sheet Highlights At September 30, 2001, SYNAVANT's cash and cash equivalents totaled $10.7 million, an increase of $1.6 million over the second quarter balance, reflecting proceeds from the sale of certain marketable securities. Net cash flow from operating activities during the 2001 third quarter totaled minus $1.0 million, an improvement of $2.8 million from the prior quarter. Financial Outlook "The two large US contracts we announced recently are with existing SYNAVANT customers. While incremental Additional or increased growth, bulk, quantity, number, or value; enlarged. Incremental cost is additional or increased cost of an item or service apart from its actual cost. revenue will not be large, these two wins further establish our CRM (Customer Relationship Management) An integrated information system that is used to plan, schedule and control the presales and postsales activities in an organization. credentials CREDENTIALS, international law. The instruments which authorize and establish a public minister in his character with the state or prince to whom they are addressed. If the state or prince receive the minister, he can be received only in the quality attributed to him in his credentials. in this important market and enhance our prospects to win new business in 2002," commented Kussman. "For 2001, we expect fourth-quarter revenue to be in the $43.5 million to $48.5 million range and EBITDA to be between $0 and $3 million." Operating Highlights During the third quarter, SYNAVANT won contracts with two leading, global pharmaceutical companies to provide services for their US operations ranging from design and implementation to helpdesk and other support for Siebel For the tech company, see . Siebel, originally Flugzeugbau Halle, was a German aircraft manufacturer in Halle an der Saale. Siebel aircraft included:
Ceremonial building block, dated or otherwise inscribed, usually placed in an outer wall of a building to commemorate its dedication. Often the stone is hollowed out to contain newspapers, photographs, or other documents reflecting current customs, with a view to (TM) customer for more than five years. Work is already underway on this implementation, with full roll-out anticipated by June June: see month. 2002. For strategic reasons, the customer has requested to remain anonymous. The second contract, also with an existing Cornerstone(TM) customer of more than 10 years, will support almost 3000 users deployed on the Siebel ePharma CRM platform with a range of technology, data management and support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services including helpdesk, hardware services and asset management. These engagements were secured due to SYNAVANT's extensive knowledge of pharmaceutical company requirements, experience with Siebel ePharma technology and proven high quality, integrated support and service capabilities. Following its successful ePharma implementations for Aventis Aventis Is a pharmaceutical and lab assay testing company. It was formed in 1999 when Rhône-Poulenc S.A. merged with Hoechst AG. The merged company was based in Strasbourg, France. Sanofi-Aventis was formed in 2004 when Sanofi-Synthélabo purchased Aventis. Pharma in Italy Italy (ĭt`əlē), Ital. Italia, officially Italian Republic, republic (2005 est. pop. 58,103,000), 116,303 sq mi (301,225 sq km), S Europe. and GlaxoSmithKline GlaxoSmithKline plc (LSE: GSK NYSE: GSK) is a British based pharmaceutical, biological, and healthcare company. GSK is a research-based company with a wide portfolio of pharmaceutical products covering anti-infectives, central nervous system (CNS), respiratory, in Austria Austria (ô`strēə), Ger. Österreich [eastern march], officially Republic of Austria, federal republic (2005 est. pop. 8,185,000), 32,374 sq mi (83,849 sq km), central Europe. , SYNAVANT has won agreements with their sister companies in Finland Finland, Finnish Suomi (swô`mē), officially Republic of Finland, republic (2005 est. pop. 5,223,000), 130,119 sq mi (337,009 sq km), N Europe. and Portugal Portugal (pôr`chəgəl), officially Portuguese Republic, republic (2005 est. pop. 10,566,000), 35,553 sq mi (92,082 sq km), SW Europe, on the western side of the Iberian Peninsula and including the Madeira Islands and the Azores in the respectively to implement and support local ePharma applications. The GlaxoSmithKline agreement is with the consumer health division in Portugal. Work has begun on both these installations. Further third-quarter 2001 successes include more than 30 new and existing contract wins, expansions and extensions for SYNAVANT's PRM solutions and Interactive Marketing services across its three key geographies: 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. , Europe Europe (y  r`əp), 6th largest continent, c.4,000,000 sq mi (10,360,000 sq km) including adjacent islands (1992 est. pop. 512,000,000). and Asia Pacific. More than half
these wins are with top- top-pref. Variant of topo-. 12 pharmaceutical companies. On October 2, 2001 SYNAVANT announced its alliance with the leading pharmaceutical services provider in the Nordic region - Sweden-based Nordic Medical Information (NoMI). Under the terms of the alliance, NoMI has the exclusive right to market and deliver SYNAVANT Synpharma(SM) in the Nordic region, which includes Denmark Denmark (dĕn`märk), Dan. Danmark, officially Kingdom of Denmark, kingdom (2005 est. pop. 5,432,000), 16,629 sq mi (43,069 sq km), N Europe. , Finland, Norway Norway, Nor. Norge, officially Kingdom of Norway, constitutional monarchy (2005 est. pop. 4,593,000), 125,181 sq mi (324,219 sq km), N Europe, occupying the western part of the Scandinavian peninsula. and Sweden Sweden, Swed. Sverige, officially Kingdom of Sweden, constitutional monarchy (2005 est. pop. 9,002,000), 173,648 sq mi (449,750 sq km), N Europe, occupying the eastern part of the Scandinavian peninsula. . The alliance enables SYNAVANT to extend its geographic footprint The amount of geographic space covered by an object. A computer footprint is the desk or floor surface it occupies. A satellite's footprint is the earth area covered by its downlink. See form factor. 1. and to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the CRM opportunities in this European region. On August 16, 2001 SYNAVANT announced its intention to implement a restructuring program. The restructuring is part of an overall business transformation process aimed at increasing the company's ability to leverage market opportunities through greater customer focus and responsiveness. Actions taken during the third quarter include the simplification of the senior leadership team structure, announced on August 21, the elimination of approximately 70 positions, the refocusing Noun 1. refocusing - focusing again focalisation, focalization, focusing - the act of bringing into focus of many employee roles across all geographies and the implementation of several customer-focused initiatives. These initiatives include the strengthening of SYNAVANT's global account management function; the appointment of a Vice President Customer Relations to lead SYNAVANT's activities in identifying and supporting customers' strategic needs across key regions; and a restructuring of the sales and support functions within the Americas A·mer·i·cas , the See America. region to achieve greater customer focus. Operating Outlook "Although the slow-down in PRM decision-making has affected our revenue growth this quarter, the strength of our existing customer relationships and increased customer responsiveness continues to deliver results, evidenced by our two major US contract wins this quarter," said Yetter. "We are making good progress in our efforts to win new business and, in conjunction with our business transformation activities, I am confident that SYNAVANT will continue to strengthen its position," he concluded. A discussion of third-quarter performance will be Webcast live on November November: see month. 1, 2001 at 9 a.m. ET, and can be accessed via http://www.synavant.com. About SYNAVANT SYNAVANT Inc. guides biopharmaceutical and healthcare companies globally to greater business success by accelerating the adoption of advances in healthcare around the world. SYNAVANT accomplishes this by designing, building and supporting a wide range of knowledge-based solution sets, that bring together leading-edge technology, proven data management competence, a full range of specialist services and over 30 years of healthcare expertise. Its comprehensive, global solutions include Pharmaceutical Relationship Management (PRM) and eBusiness applications, interactive marketing, server and database management, dedicated local helpline helpline Noun a telephone line set aside for callers to contact an organization for help with a problem helpline n → teléfono de asistencia al público support, training, telemarketing telemarketing, the practice of selling goods or services to customers by means of the telephone or of surveying consumer preferences in telephone conversations. , sample management, and product-recall services. SYNAVANT Inc. is the company formed by the spin-off The situation that arises when a parent corporation organizes a subsidiary corporation, to which it transfers a portion of its assets in exchange for all of the subsidiary's capital stock, which is subsequently transferred to the parent corporation's shareholders. of the Strategic Technologies and Clark-O'Neill units from IMS HEALTH IMS Health (NYSE: RX) is an international consulting and data services company that supplies the pharmaceutical industry with sales data and consulting services. IMS Health was founded in 1954 by Bill Frohlich and David Dubow. . SYNAVANT is headquartered in Atlanta, GA, USA and has offices in 23 countries. Cornerstone(TM) is a trademark of SYNAVANT Inc. All other trademarks and tradenames referenced in this document are the properties of their respective owners. This news release includes 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. 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. All statements other than statements of historical fact are forward-looking, which can be identified by the use of words such as "may," "will," "expect," "anticipate," "estimate," "believe," "continue" or other similar words. Such forward-looking statements are based on management's current plans and expectations, and are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to: risks associated with operating on a global basis; the ability to identify, consummate To carry into completion; to fulfill; to accomplish. A Common-Law Marriage is consummated when the parties live in a manner intended to bring about public recognition of their relationship as Husband and Wife. and integrate acquisitions, alliances and ventures on satisfactory terms; the ability to develop new or advanced technologies, systems or products; the ability to successfully maintain historic effective tax rates; regulatory, legislative and enforcement initiatives; the ability to obtain future financing on satisfactory terms and consolidation of the pharmaceutical industry. These risks and uncertainties are not intended to be exhaustive and should be read in conjunction with other cautionary statements discussed in more detail in the Company's filings with the Securities and Exchange Commission under 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. .
Table 1
SYNAVANT Inc.
Pro Forma Statement of Operations(a)
Three Months Ended September 30
(unaudited, in millions except per share)
Constant
$
Constant
% Portfolio
2001 2000 Change Growth
--------- -------- ------- -------
Revenue
Software Fees $ 1.6 $ 0.7 129% 135%
Software Services 21.1 21.5 (2) 0
Interactive Marketing 18.0 20.8 (13) (5)
--------- -------- ------- -------
Total Revenue 40.7 43.0 (5) (1)
Operating Costs (31.2) (34.0) (8)
Research & Development (2.2) (3.0) (27)
Selling & Administrative Costs (8.2) (9.0) (9)
Depreciation & Amortization (5.3) (5.8) (9)
--------- -------- -------
Operating Loss $ (6.2) $ (8.8)
Other Expense, Net (0.6) (0.5)
--------- --------
Loss Before Provision for
Income Taxes (6.8) (9.3)
(Provision) Benefit for Income Taxes 0.4 1.4
--------- --------
Pro Forma Net Loss $ (6.4) $ (7.9)
========= ========
Pro Forma Loss Per Share
(Basic and Diluted) $ (0.43) $(0.53)
Average Shares Outstanding
(Basic and Diluted) 14.9 14.8
(a) Pro forma results include adjustments for: inclusion of $0.3
Interactive Marketing revenues for 2000 relating to the Pharbase
license agreement between SYNAVANT and IMS HEALTH; inclusion of $0.3
in Interactive Marketing cost of revenue for 2000 relating to the
Exponent license agreement between SYNAVANT and IMS HEALTH; inclusion
of $1.4 in selling & administrative expense for 2000 relating to the
estimated incremental run-rate costs of operating SYNAVANT as a
stand-alone, public company; exclusion of one-time spin-related costs
of $0.7 and $1.1 for 2001 and 2000, respectively; exclusion of
goodwill impairment charge of $100.9 and software and acquired
technology impairment charge of $14.6 in 2000, which reduce the costs
of software fees by $5.4 and depreciation & amortization by $110.1;
exclusion of one-time restructuring costs of $4.6 for 2001; exclusion
of one-time loss on sale of Gartner shares of $0.9 for 2001; and
inclusion of a tax provision of $0.2 and $4.3 in 2001 and 2000,
respectively.
Table 2
SYNAVANT Inc.
Pro Forma Statement of Operations(a)
Nine Months Ended September 30
(unaudited, in millions except per share)
Constant
$
Constant
% Portfolio
2001 2000 Change Growth
---------- --------- ----- -----
Revenue
Software Fees $ 8.7 $ 5.0 74% 81%
Software Services 64.9 64.8 0 2
Interactive Marketing 57.9 67.1 (14) (4)
---------- --------- ----- -----
Total Revenue 131.5 136.9 (4) 2
Operating Costs (102.3) (103.2) (1)
Research & Development (6.7) (9.8) (32)
Selling & Administrative Costs (26.3) (28.2) (7)
Depreciation & Amortization (16.0) (18.3) (13)
---------- --------- -----
Operating Loss $ (19.8) $ (22.6)
Other Expense, Net (0.4) (0.4)
---------- ---------
Loss Before Provision For
Income Taxes (20.2) (23.0)
(Provision) Benefit for
Income Taxes (1.7) 2.5
---------- ---------
Pro Forma Net Loss $ (21.9) $ (20.5)
========= =========
Pro Forma Loss Per Share
(Basic and Diluted) $ (1.47) $ (1.38)
Average Shares Outstanding
(Basic and Diluted) 14.9 14.9
(a) Pro forma results include adjustments for: inclusion of $1.0
Interactive Marketing revenues for 2000 relating to the Pharbase
license agreement between SYNAVANT and IMS HEALTH; inclusion of $1.0
in Interactive Marketing cost of revenue for 2000 relating to the
Exponent license agreement between SYNAVANT and IMS HEALTH; inclusion
of $4.7 in selling & administrative expense for 2000 relating to the
estimated incremental run-rate costs of operating SYNAVANT as a
stand-alone, public company; exclusion of one-time spin-related costs
of $1.3 and $1.1 for 2001 and 2000, respectively; exclusion of
goodwill impairment charge of $100.9 and software and acquired
technology impairment charge of $14.6 in 2000, which reduce the costs
of software fees by $5.4 and depreciation & amortization by $110.1;
exclusion of one-time restructuring costs of $4.6 for 2001; exclusion
of one-time loss on sale of Gartner shares of $0.9 for 2001; and
inclusion of a tax provision of $0.4 and $3.0 in 2001 and 2000,
respectively.
Note: Certain prior quarter amounts have been reclassified to
conform with current period presentation. The reclassifications have
resulted in $0.2 increase in operating costs and a corresponding
decrease in selling and administrative costs.
Table 3
SYNAVANT, Inc.
Summary Balance Sheet
(unaudited, dollars in millions)
September 30, December 31,
2001 2000
------------- -------------
Assets
Current Assets
Cash and Cash Equivalents $ 10.7 $ 19.7
Accounts Receivable, Net 39.6 44.4
Other Current Assets 8.4 8.5
------------- -------------
Total Current Assets 58.7 72.6
Long-Term Notes Receivable 1.0 2.5
Property, Plant and Equipment, Net 11.3 13.6
Computer Software, Net 8.4 13.0
Goodwill, Net 43.6 52.9
Other Long-Term Assets 2.7 1.9
------------- -------------
TOTAL ASSETS $ 125.7 $ 156.5
============= =============
Liabilities and Stockholders' Equity
Current Liabilities
Accounts Payable $ 11.9 $ 11.6
Accrued Income Taxes 3.0 4.0
Deferred Revenue 8.9 13.2
Accrued Restructuring 4.2 --
Accrued & Other Current Liabilities 13.9 15.8
------------- -------------
Total Current Liabilities 41.9 44.6
Other Liabilities 9.8 9.7
------------- -------------
TOTAL LIABILITIES $ 51.7 $ 54.3
============= =============
Minority Interest -- 0.6
Stockholders' Equity 74.0 101.6
------------- -------------
TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY $ 125.7 $ 156.5
============= =============
Table 4
SYNAVANT Inc.
Statement of Operations
Three Months Ended September 30
(unaudited, in millions except per share)
2001 2000
------------- -------------
Revenue
Software Fees $ 1.6 $ 0.7
Software Services 21.1 21.5
Interactive Marketing 18.0 20.5
------------- -------------
Total Revenue 40.7 42.7
Operating Costs (31.2) (39.1)
Research & Development (2.2) (3.0)
Selling & Administrative Costs (8.2) (7.6)
Depreciation & Amortization (5.3) (115.9)
Restructuring Costs (4.6) --
Spin-Related Costs (0.7) (1.1)
------------- -------------
Operating Loss $ (11.5) $ (124.0)
Other Expense, Net (1.5) (0.5)
------------- -------------
Loss Before Provision For Income Taxes (13.0) (124.5)
(Provision) Benefit for Income Taxes 0.6 5.7
------------- -------------
Net Loss $ (12.4) $ (118.8)
============= =============
Loss Per Share $ (0.83) $ (8.02)
Average Shares Outstanding
(Basic and Diluted) 14.9 14.8
Table 5
SYNAVANT Inc.
Statement of Operations
Nine Months Ended September 30
(unaudited, in millions except per share)
2001 2000
------------- -------------
Revenue
Software Fees $ 8.7 $ 5.0
Software Services 64.9 64.8
Interactive Marketing 57.9 66.1
------------- -------------
Total Revenue 131.5 135.9
Operating Costs (102.3) (107.6)
Research & Development (6.7) (9.8)
Selling & Administrative Costs (26.3) (23.5)
Depreciation & Amortization (16.0) (128.4)
Restructuring Costs (4.6)
Spin-Related Costs (1.3) (1.1)
------------- -------------
Operating Loss $ (25.7) $ (134.5)
Other Expense, Net (1.3) (0.4)
------------- -------------
Loss Before Provision For Income Taxes (27.0) (134.9)
(Provision) Benefit for Income Taxes (1.3) 5.5
------------- -------------
Net Loss $ (28.3) $ (129.4)
============= =============
Loss Per Share $ (1.90) $ (8.69)
Average Shares Outstanding
(Basic and Diluted) 14.9 14.9
Note: Certain prior quarter amounts have been reclassified to
conform with current period presentation. The reclassifications have
resulted in $0.2 increase in operating costs and a corresponding
decrease in selling and administrative costs.
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