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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. (www.mobius.com) 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.
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Publication:Business Wire
Geographic Code:1USA
Date:Jul 2, 1999
Words:546
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