PRESS: =?iso-8859-1?Q?INFORMIX=92S_?= PRELIMINARY FOURTH
Posted in 1998
INFORMIX=92S PRELIMINARY FOURTH QUARTER RESULTS SHOW SOLID PROGRESS
Posts a $17.8 Million Operating Profit, Exceeding Expectations
MENLO PARK, CA., February 11, 1998 =96 Informix Corporation (NASDAQ: IFMX)
today announced preliminary, unaudited results for the fourth quarter and
full year ended December 31, 1997. The following preliminary results are
subject to the completion of the audit of Informix=92s 1997 financial
statements by Informix=92s independent auditors.
Total revenue in the fourth quarter was $181.2 million, and Operating
Profit was $17.8 million. Net income was $9.2 million and earnings per
share were 5 cents on a diluted basis. For fiscal year 1997, total revenue
was $662.3 million, and Operating Loss was $357.3 million, including a
$108.2 million restructuring charge. Net loss was $358.8 million and loss
per share was $2.36.
>From the third quarter of 1997, the Company demonstrated sequential quarter
over quarter growth in all geographic areas including Asia Pacific with
total revenue increasing by 21%. License revenues increased by 36% quarter
over quarter. The Company recorded an Operating Profit of $17.8 million
compared to a $106.3 million Operating Loss in the third quarter, and Net
Income was $9.2 million, compared to a Net Loss of $110.5 million in the
third quarter.
On the financing side, the sale of property in Santa Clara was completed
for $60 million, as well as the private offering of $50 million of
convertible preferred stock to a group of investors led by an affiliate of
Credit Suisse First Boston and including affiliates of Castle Creek
Partners and Heights Capital Management. A $75 million revolving credit
facility syndication has been fully completed and the credit line was
effective as of December 30, 1997. The Company has not drawn on this
facility. Informix ended the year with approximately $155.5 million of cash
and short term investments on hand.
"1997 was a very difficult year for Informix, but the fourth quarter
demonstrates solid progress towards our goals," said Bob Finocchio,
chairman and CEO of Informix. "We exceeded street expectations and were
able to post a profit in the fourth quarter. I am pleased that we
experienced traction at the top line, controlled our costs and improved our
ongoing financial stability. Although our work is far from complete, we
have made progress on our way toward building the new Informix."
About Informix
Informix Corporation, located in Menlo Park, is the world's database
technology leader and provides innovative database products that enable the
world's major corporations to attain competitive advantage. Informix is
widely recognized as the technology leader for corporate computing
environments, ranging from small workgroups to very large parallel
processing applications.
Informix's database servers, application development tools, superior
customer service and strong partnerships enable the company to be at the
forefront of major information technology solution areas including data
warehousing, OLTP, and Web/content management. For more information, visit
our Web site at http://www.informix.com.