Printer Friendly

Hyperion Software Posts Strong Third Quarter Performance.

STAMFORD, Conn.--(BUSINESS WIRE)--April 16, 1997--

Announces Joint Development Venture and Shared Channel Strategy with Baan

Hyperion Software (NASDAQ: HYSW) today reported revenues of $50.5 million and net income of $1.3 million, or $.07 per share, for its third quarter ended March 31, 1997. Revenues rose 37 percent from $36.9 million for the same period of the prior year. Net income rose over 250 percent from $.4 million, or $.02 per share, for the third quarter of fiscal 1996.

Software sales were up 50 percent for the quarter. Growth was realized across all product lines and geographic regions, including Asia, Europe and North America. Sales of budgeting and analysis solutions were particularly strong, as were sales of consolidation and reporting applications in Asia and Europe.

Revenues for the first nine months of fiscal 1997 were $149.2 million and net income was $5.9 million, or $.32 per share. Revenues and net income increased 31 percent and 46 percent respectively, from $114.2 million and $4.1 million, or $.23 per share, for the corresponding period ended March 31, 1996. The company generated cash of $32.4 million from its operating activities for the nine months ended March 31, 1997.

Hyperion has now reported 16 consecutive quarters of profitability. Each quarter has reflected year-over-year revenue growth and investment in product development, marketing and distribution. This is the fourth consecutive quarter in which the rate of software sales growth over the same quarter of the prior year has increased. We are again pleased by the return of momentum to our business as we look ahead with great enthusiasm to a strategic relationship with the Baan Company, commented Peter DiGiammarino, president and COO.

As announced earlier today, under a letter of intent Hyperion and the Baan Company plan to join forces through a joint development venture and shared channel strategy. The arrangement, consisting of two primary components: a shared channel strategy and joint development of future accounting products, would leverage Baans expertise in complex transactional Enterprise Resource Planning solutions and Hyperions command of financial and information management. Hyperion expects to incur nonrecurring charges in its June 1997 quarter of approximately $4 million ($2.5 million after tax benefits or $.13 per share) for asset valuation and restructuring costs resulting from an agreement with Baan.

Hyperion Software Corporation, with over $200 million in sales for the twelve months ended March 1997, develops, markets and supports comprehensive software solutions, including planning and budgeting, accounting, multi-source consolidation, and business reporting and analysis. The company's client/server software products are in use by more than 3,000 large organizations, including over 50 percent of the Fortune 500. The company is ranked first worldwide in budgeting software revenue and third worldwide in client/server accounting software revenue by International Data Corporation. Hyperion also received the highest overall customer satisfaction rating in INPUT's 1996 survey of financial software suppliers. The company is headquartered in Stamford, Connecticut and has more than 1,100 employees. Additional information is available at the company's Web site at http://www.hysoft.com.

Except for any historical information contained herein, the matters discussed in this release are forward-looking statements that involve risks and uncertainties. Actual events and results may vary significantly based on a number of factors, including: whether the Baan Company and Hyperion Software reach definitive agreements with respect to the matters covered by the letter of intent and what the detailed negotiated terms of such agreements are; whether the products contemplated to be developed are developed in a timely fashion and are accepted by the market; whether the proposed coordination of sales prospects between the companies works in practice and results in increased revenues for the companies; whether the strategic advantages and synergies contemplated to be gained by the parties are actually able to be realized; and the impact of competitive products and pricing. Any forward-looking statements should be considered in light of these factors as well as other risks detailed in the companys filings with the Securities and Exchange Commission. -0-

 Hyperion Software Corporation
 Consolidated Financial Data
 (In thousands, except per share data)

 Quarter Ended Nine Months Ended
 March 31, March 31,
 1997 1996 1997 1996

Statement of Income Data:

Software license revenues $24,038 $16,014 $ 70,316 $ 55,194
License renewals &
 service revenues 26,485 20,842 78,890 59,020
Total revenues 50,523 36,856 149,206 114,214
Cost of revenues 19,217 14,383 53,419 40,697
Sales & marketing expenses 17,037 12,093 49,435 35,891
Product development expenses 7,702 6,478 23,605 18,847
Purchased research & development 2,000
General & administrative expenses 4,821 3,519 14,030 11,182
Net income 1,315 369 5,992 4,106
Earnings per share .07 .02 .32 .23

R&D Spending $ 8,817 $ 8,078 $ 26,887 $ 25,345

 March 31, June 30,
 1997 1996

Balance Sheet Data:
 Cash & cash equivalents $52,966 $42,361
 Accounts receivable, net 47,049 55,674
 Working capital 27,996 27,449

Total assets 191,180 179,448

Mortgage payable 7,956 8,336

Stockholders equity 101,052 90,003


-0-

Hyperion, Hyperion Software, Hyperion Financials, Hyperion Receivables, Hyperion Assets, Hyperion Tools, Hyperion Admin., LedgerLink, Micro Control, Pillar, Financial Intelligence and Business Intelligence are registered trademarks and Hyperion Enterprise, Hyperion Pillar, Hyperion Analyst, Hyperion OLAP, Hyperion Retrieve, Hyperion Reporting, Hyperion Forms, Hyperion OnTrack, Hyperion Analytical Ledger, Hyperion Ledger, Hyperion Payables, Hyperion Purchasing, Conversion Catalyst are trademarks of Hyperion Software Operations Inc., a wholly-owned subsidiary of Hyperion Software Corporation. Marvel Comics, Spider-Man: TM and copyright 1996 Marvel Characters, Inc. all rights reserved. All other trademarks and company names mentioned are the property of their respective owners.

For further information, refer to the Hyperion Software Corporation annual report on Form 10-K for the year ended June 30, 1996.

CONTACT: Hyperion Software Corporation

Lucy Ricciardi, 203/703-3705

Michael Manto, 203/703-3889
COPYRIGHT 1997 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1997, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Apr 16, 1997
Words:987
Previous Article:Arvin first quarter EPS exceeds analysts' expectations; reports record first quarter sales.
Next Article:Transaction Network Services Inc. reports first quarter 1997 results.
Topics:


Related Articles
HYPERION SOFTWARE POSTS RECORD NINE-MONTH RESULTS; Revenues and Earnings Exceed Expectations for Third Quarter.
Hyperion Software confirms third quarter expectations.
Hyperion on Oracle accelerates accounting product momentum.
Hyperion Software reports strong revenue growth and profitability in its first quarter.
Hyperion Software Reports Second Quarter Results; Company Posts Strong Revenue and Earnings Growth for its Quarter and First Half.
Hyperion Software Reports Record Fourth Quarter Revenues; Earnings Rose 59% Before Nonrecurring Charges.
Hyperion Software Licenses Financial Management and Planning Solution to Alltel Corp.
Hyperion Software Posts Record First Quarter Revenues and Earnings.
Hyperion Software Announces New Family of Multi-dimensional Business Analysis Applications; Purpose-Built Applications Move Beyond Raw OLAP Tools and...
Hyperion Software Reports Record Third Quarter Results.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters