Printer Friendly

Mobius Management Systems, Inc. Reports Preliminary Fourth Quarter Results.

RYE, N.Y.--(BUSINESS WIRE)--July 2, 1999--

Mobius Management Systems, Inc. (Nasdaq: MOBI) announced today that it expects fourth quarter revenues and earnings to come in below analysts' estimates.

The Company anticipates announcing fourth quarter and fiscal year 1999 results on July 28, 1999. Based on information available to date, fourth quarter revenues are estimated to be in the range of $20 to $21 million, and earnings per share for the quarter are estimated to be in the range of $0.02 to $0.03. Revenues for the full fiscal year are expected to be in the range of $73 to $74 million, bringing FY 1999 revenue growth to between 29 and 31%, with earnings per share in the range of $0.22 to $0.23.

The revenue shortfall primarily reflects lower than expected license revenues from international operations and from domestic vertical markets. In addition, earnings were also impacted by increased expenses made in anticipation of higher revenue growth.

CEO Mitch Gross announced, "We have already taken actions to reduce expenses and are planning other actions to insure that our expense growth is more consistent with our revenue growth. Our cash position remains strong and, based on our current outlook, we believe that we will be able to return to our historic revenue and profit growth rates for fiscal 2000."

Mobius Management Systems, Inc. ( is a leading provider of enterprise-wide Electronic Document Warehouse solutions in support of electronic commerce, customer service and improved productivity. Founded in 1981, the company develops and markets a complete family of software products to integrate and archive large volumes of diverse documents and transactions and make them available over corporate networks and the Internet. Mobius products are used by more than 1,200 organizations worldwide, including banks, insurance companies, financial services providers, utilities and telecommunications companies. More than half of the Fortune 100 companies use Mobius software. The Company has twelve domestic offices and is headquartered in Rye, New York, with additional foreign subsidiaries located in England, France, Germany, Italy, Sweden, Switzerland, Australia and Japan.

Statements contained in this release, other than historical financial results, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties. In particular, any statements contained herein regarding expectations with respect to future sales and profitability, as well as product development and/or introductions, are subject to known and unknown risks, uncertainties, and contingencies, many of which are beyond the Company's control, which may cause actual results, performance, or achievements to differ materially from those projected or implied in such forward-looking statements. Factors that might affect actual results, performance, or achievements include, among other things, overall economic and business conditions, the demand for the Company's goods and services, and technological advances and competitive factors in the markets in which the Company competes. These risks and uncertainties are described in detail from time to time in Mobius' filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K, filed on September 28, 1998. Mobius accepts no obligation to update these forward-looking statements and does not intend to do so.

(c)Copyright 1999. Mobius Management Systems, Inc. All Rights Reserved. All trademarks are the property of their respective owners.
COPYRIGHT 1999 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1999, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Geographic Code:1USA
Date:Jul 2, 1999
Previous Article:Internet Corporation for Assigned Names and Numbers -- ICANN -- Statement On Hacking of Network Solutions' Servers.
Next Article:Premier Concepts Inc. Narrows Operating Loss in First Quarter.

Related Articles
Mobius Management Systems, Inc. Reports 60% Increase in First Quarter 1999 Revenue to $15.8 Million; First Quarter Net Income Rises 63%.
Mobius Management Systems Inc. Reports 45% Increase in Second Fiscal Quarter Revenue to $19.1 Million.
Mobius Management Systems, Inc. Acquires Benelux Agent.
Mobius Management Systems, Inc. Reports Fourth Quarter Results.
Mobius Management Systems, Inc. Reports Preliminary First Quarter Results.
Mobius Management Systems, Inc. Announces 33% Increase in 2Q FY 2001 Total Revenues.
Mobius Management Systems, Inc. Announces 19% Increase in 3Q FY 2001 Total Revenues.
Mobius Management Systems, Inc. Returns to Profitability; Fourth Quarter EPS Reaches $0.04 Per Share Compared with a Loss of $0.13 Per Share Last...
Mobius Management Systems, Inc. Reports Results for Fiscal First Quarter 2002.

Terms of use | Privacy policy | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters