Unify Corporation Reports Record Fourth Quarter Results With Increased Revenue and Momentum From Unify eWave Commerce Solutions.Business Editors SAN JOSE San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif.--(BUSINESS WIRE)--May 23, 2000 Unify Corporation (company) Unify Corporation - Developers of the Unify relational database. At one time, before Sybase, they were a competitor of Oracle, et al. http://unify.com/. ftp://ftp.unify.com/. (Nasdaq: UNFY), a leading provider of e-commerce e-commerce, commerce conducted over the Internet, most often via the World Wide Web. E-commerce can apply to purchases made through the Web or to business-to-business activities such as inventory transfers. software, today announced results for the fiscal 2000 fourth quarter ended April 30, 2000. Total revenues for the fourth quarter of fiscal 2000 were $11.5 million as compared to $8.9 million for the fourth quarter of the prior year, representing an increase of 30%. Revenue from internet product license fees was $6.2 million, reflecting a 63% increase from the fourth quarter of last year. Total revenues from license fees were $8.2 million versus $6.0 million in the same period last year, an increase of 36%. License revenues represent 71% of total revenues in the current period, as compared to 68% for the fourth quarter of fiscal 1999. Excluding a tax benefit of $5.1 million related to the reversal of a valuation allowance against its deferred tax assets, fourth quarter fiscal 2000 net income was $3.6 million versus $1.9 million in the same quarter last year. Excluding such tax benefit, earnings per share equates to $.19 per basic share for the fourth quarter, $0.18 per share on a 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. basis as compared to $0.11 per basic share and $0.10 per diluted share in the same quarter last year, representing a 180% increase year over year. Inclusive of inclusive of prep. Taking into consideration or account; including. the tax benefit, fourth quarter fiscal 2000 net income was $8.6 million or $0.46 per basic share, as compared to net income of $1.9 million or $0.11 per basic share for the fourth quarter of last year. Net income was $0.43 per diluted share in the current quarter versus $0.10 per diluted share in the same quarter last year. Revenue for the twelve months ended April 30, 2000 totaled $39.5 million, as compared to $30.8 million in the twelve months ended April 30, 1999. Excluding the effect of the tax benefit, net income was $10.2 million, or $0.56 per basic share for the twelve months ended April 30, 2000, as compared to net income of $4.4 million, or $0.26 per basic share for the same period last year, an increase of 232%. Net income on a diluted share basis was $0.53 for the twelve months ended April 30, 2000 versus $0.24 for the same period a year earlier. Inclusive of the tax benefit, net income was $15.3 million, or $0.84 per basic share for the twelve months ended April 30, 2000, as compared to net income of $4.4 million, or $0.26 per basic share for the same period last year. Net income on a diluted share basis was $0.79 for the twelve months ended April 30, 2000 versus $0.24 for the same period a year earlier. "Companies continue to seek out open e-commerce solutions like Unify 1. (database, product) Unify - A relational database produced by Unify Corporation. 2. (algorithm) unify - To perform unification. eWave, resulting in our strongest fourth quarter ever," stated Reza Mikailli, president and chief executive officer. "The acquisition of New Atlanta New Atlanta Communications, LLC is a software company specializing in products to ease creation of Web applications. Based in Alpharetta, Georgia and founded in 1998, the company markets 3 products: ServletExec, JTurbo, and BlueDragon. and their award winning ServletExec product combined with the Unify eWave product line offer the industry's most complete portfolio of open, standards-based solutions for Application Service Providers (ASPs) and companies building B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business , B2C (Business to Consumer) Refers to a business communicating with or selling to an individual rather than a company. See B2B. trading hubs and exchanges." Sales of product for the fourth quarter include the following organizations: Agilent Technologies This article needs sources or references that appear in reliable, third-party publications. Alone, primary sources and sources affiliated with the subject of this article are not sufficient for an accurate encyclopedia article. , Arsin Corporation, ANFA, Black Hog hog: see swine. hog Heavy, fat-producing domesticated pig developed in the U.S. in the late 19th and early 20th century. As the growing use of cheaper vegetable oils decreased the importance of lard as a source of fat, meatpackers sought hogs Corporation, Bi-Flow, Budweiser (Japan), CBill, CNA (Certified NetWare Administrator) See Novell certification. , Department of Defense, DigiTrade, Fujisaki, Hitachi Hitachi (hētä`chē), city (1990 pop. 202,141), Ibaraki prefecture, E central Honshu, Japan, on the Kashima Sea. The city is a leading producer of Japan's electrical equipment. , Miroku Miroku may refer to:
NEC was founded in Tokyo in 1899 as Nippon Electric Company, Ltd. , Net Team, Plurify Software, Smarticom, Sumitomo Metals, TMG TMG - TransMoGrifier. An early language for writing recursive descent compilers. It was macroed from the IBM 1604 to the IBM 709 to the IBM 7094 to the GE-635, where it was used by McIlroy and Morris to write the EPL compiler for Multics. Systemhaus GmbH GmbH Gesellschaft mit Beschränkter Haftung (German: limited liability company; business entity) , Unique Computing computing - computer Solutions, US Marshals, Wilnet, and Yube, Inc. This announcement contains 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. that involve risks and uncertainties. The Company's actual results may differ materially from the results described in such statements. Factors that might cause such a difference include, but are not limited to, those discussed in the "Risk Factors" section of the Company's Annual Reports 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. , as well as its reports on Forms 10-Q and 8-K filed with the Securities and Exchange Commission, copies of which are available on request from Unify. About Unify Corporation Unify Corporation (Nasdaq: UNFY) is a global provider of Internet and e-commerce software solutions for building enterprise-class business-to-business  This article or section needs copy editing for grammar, style, cohesion, tone and/or spelling.You can assist by [ editing it] now. and business-to-consumer Business-to-consumer (B2C), describes activities of commercial organizations serving the end consumer with products and/or services. It is usually applied exclusively to electronic commerce. e-commerce sites quickly and cost effectively. Based in San Jose, Calif., Unify offers a full range of products and services to guide today's highly competitive companies into the complex world of conducting business online. Additional information on Unify is available at www.unify.com.
UNIFY CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
(unaudited)
Three Months Twelve Months
Ended April 30, Ended April 30,
2000 1999 2000 1999
----------------- -----------------
Revenues:
Software licenses
-Internet $6,188 $3,808 $19,216 $11,816
Software licenses
-ClientServer 2,012 2,201 8,503 8,504
Services 3,301 2,864 11,807 10,490
----- ----- ------ ------
Total revenues 11,501 8,873 39,526 30,810
Cost of revenues:
Software licenses 218 215 918 849
Services 1,394 1,189 4,943 4,404
----- ----- ------ ------
Total cost of revenues 1,612 1,404 5,861 5,253
Gross margin 9,889 7,469 33,665 25,557
Operating expenses:
Product development 1,726 1,538 6,445 5,928
Selling, general and
administrative 4,583 3,959 17,014 15,151
----- ----- ------ ------
Total operating expenses 6,309 5,497 23,459 21,079
----- ----- ------ ------
Income from operations 3,580 1,972 10,206 4,478
Other income (expense), net 36 (1) 397 175
----- ----- ------ ------
Income before income taxes 3,616 1,971 10,603 4,653
Provision (benefit) for
income taxes (5,014) 71 (4,660) 231
----- ----- ------ ------
Net earnings $8,630 $1,900 $15,263 $4,422
====== ====== ======= ======
Net income per share:
Basic $0.46 $0.11 $0.84 $0.26
====== ====== ====== ======
Diluted $0.43 $0.10 $0.79 $0.24
====== ====== ====== ======
Shares used in computing
net income per share:
Basic 18,837 17,350 18,168 17,110
====== ====== ====== ======
Diluted 20,160 19,166 19,303 18,102
====== ====== ====== ======
UNIFY CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
(unaudited)
April 30, April 30,
2000 1999
--------------------
ASSETS
Current assets
Cash and equivalents and short-term investments $13,601 $11,387
Accounts receivable, net 11,114 9,156
Prepaid expenses and other current assets 1,285 732
Deferred tax assets 4,000 0
------- -------
Total current assets 30,000 21,275
Property and equipment, net 1,036 1,417
Other assets, net 24,221 242
Deferred tax assets 2,800 0
------- -------
Total assets $58,057 $22,934
======= =======
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable 1,253 1,138
Accrued compensation and related expenses 1,641 1,650
Other accrued liabilities 2,701 2,621
Deferred revenue 2,945 3,326
Amounts due to minority interest stockholders 471 608
------- -------
Total current liabilities 9,011 9,343
Minority interest 331 265
Stockholders' equity 48,715 13,326
------- -------
Total liabilities and stockholders' equity $58,057 $22,934
======= =======
|
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion