Bijgaand ontvangt u het persbericht van Precise Software Solutions (Nasdaq: PRSE) over de resultaten in het vierde kwartaal 2002 en tevens de jaarresultaten over 2002.
Over het volledige jaar is de omzet gegroeid met 37 % tot een record van $ 76 miljoen vergeleken met de jaaromzet in 2001 van $ 55.6 miljoen.
De omzet groeide in het vierde kwartaal met 23% ten opzichte van het vierde kwartaal 2001 en kwam uit op 21.3 miljoen dollar, tegen 17.1 miljoen dollar in hetzelfde kwartaal van 2001. Dit kwartaal is het éénentwintigste op rij waarin Precise groei in resultaten realiseert. Precise rapporteert een pro forma net income van $2.2 miljoen voor dit vierde kwartaal ten opzichte van een pro forma net income van $1.6 miljoen in hetzelfde kwartaal van 2001. De nettowinst bedraagt dit vierde kwartaal $ 1 miljoen.
Uitgebreide informatie vindt u in bijgaand persbericht.
Voor aanvullende informatie kunt u contact opnemen met:
Marianne van Barneveld
035-582 27 30 / 06-5337 2153
Precise Announces Record Fourth-Quarter and 2002 Results
21st Quarter of Consecutive Revenue Growth; 37 Percent Annual Revenue Growth
WESTWOOD, MA — Februari 3, 2003 — Precise Software Solutions (Nasdaq: PRSE), the leader in optimizing customers’ business through Application Performance Management, today reported its financial results for the fourth quarter and year ended December 31, 2002.
Revenues for the fourth quarter of 2002 were up 10 percent sequentially to a record $21.3 million. These results included a 16 percent sequential increase in license revenues. Fourth quarter revenues were 23 percent over the $17.1 million in revenues for the fourth quarter of 2001.
The Company reported pro forma operating income of $1.3 million for the fourth quarter of 2002, compared with pro forma operating income of $538,000 for the same period last year. Pro forma net income for the fourth quarter of 2002 was $2.2 million, or $0.07 per share, compared with pro forma net income of $1.6 million, or $0.05 per share, in the same period last year. Net income for the fourth quarter of 2002 was $1 million, or $0.03 per share, compared with net income of $232,000, or $0.01 per share, for the same period last year.
For the full year ended December 31, 2002, revenues increased 37 percent to a record $76 million, compared with $55.6 million in 2001. Pro forma operating income for 2002 was $3.9 million, compared with a pro forma operating loss of ($553,000) in 2001. Pro forma net income for 2002 was $7.7 million, or $0.25 per share, compared with pro forma net income of $5.9 million, or $0.20 per share, in the prior year. Net income for 2002 was $3.6 million, or $0.12 per share, compared with net income of $923,000, or $0.03 per share, in 2001.
“Our company has always been about performance,” said Precise CEO Shimon Alon. “These strong quarterly results capped a year of record performance, and a year of continuing industry leadership, building direct sales, selling strategic solutions and penetrating new markets.”
Reflecting strong customer satisfaction and loyalty, Precise had repeat sales of 61 percent in the fourth quarter, and added nearly 400 new customers. During the full year, Precise added nearly 1,600 new customers, bringing its total customer base to over 6,000. This large family of satisfied customers who continued to invest in Precise solutions in 2002 directly generated the sixth consecutive year of record repeat sales - 60 percent in 2002.
As previously announced, Precise and VERITAS Software Corporation (Nasdaq: VRTS) signed a definitive agreement on December 19, 2002 for VERITAS to acquire Precise. This merger is subject to various closing conditions, including approval by Precise’s shareholders, and is expected to close during the second quarter of 2003.
Fourth Quarter Conference Call
Precise Software Solutions will conduct its quarterly conference call for investors today at 5:00 p.m. (EST) to address the Company’s recent financial performance and business outlook. The dial-in telephone number for this call is 913-981-5539, passcode 637006. Investors who want to hear the call via Webcast should log onto www.precise.com/ir at least 15 minutes prior to the broadcast. This conference call will available for replay from 8 p.m. (EST) today through midnight (EST) on February 4, 2003 by calling 888-203-1112, passcode 637006, in the U.S. or 1-719-457-0820, passcode 637006, internationally.
About Precise Software Solutions — “Performance Is Our Business™”
Precise Software Solutions (Nasdaq: PRSE) headquartered in Westwood, MA, delivers Precise i3 , a comprehensive solution for Application Performance Management that focuses directly on the end-user experience and delivers a rapid return on technology investments. By continuously monitoring and analyzing all vital components of the application infrastructure, “from URL to SQL and Beyond™”, Precise i3 proactively detects and corrects the root causes of performance degradation before they affect response times. Precise i3 identifies trends and deviations from the norm, delivering the right balance of performance optimization and strategic business planning.
More than 6,000 leading enterprises worldwide, including 80% of the Fortune 100, are using Precise’s solutions to help maximize their technology investments and meet their business goals. Precise has offices throughout North America, Europe, the Middle East, Far East and Pacific Rim, as well as a global network of resellers and distributors. More information on Precise is available at www.precise.com.
Safe Harbor
This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on Precise’s current intent, belief and expectations. These statements are not guarantees of future performance and are subject to certain risks and uncertainties that are difficult to predict. Actual results may differ materially from these forward-looking statements because of: the size of Precise’s market; the timing and acceptance of Precise’s products; changes in the relationships between Precise and its strategic partners; the future growth and acceptance of Precise’s products in the market place; Precise’s ability to predict and respond to market developments; the development, expansion, retention and training of personnel with necessary expertise; risks associated with management of growth; risks associated with existing and future strategic relationships and customers; risks of Precise being held liable for defects or errors in its products; political, economic and business fluctuations in Israel and Precise’s international markets, as well as risks of downturns in economic conditions generally, and in the information technology and software industries specifically; risks associated with competition and competitive pricing pressures; and the other risks that may be described in Precise’s filings with the Securities and Exchange Commission. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of today’s date.
In connection with the proposed merger with Precise, VERITAS Software will file a registration statement on Form S-4, including a prospectus/proxy statement, with the Securities and Exchange Commission. Investors and security holders are urged to read the proxy statement/prospectus regarding the proposed merger when it becomes available because it will contain important information about the transaction. Investors and security holders may obtain a free copy of the prospectus/proxy statement (when it is available) and other documents filed by with the Securities and Exchange Commission at the Securities and Exchange Commission’s web site at www.sec.gov. The prospectus/proxy statement and these other documents may also be obtained for free from VERITAS Software and Precise.
Precise, its directors and executive officers may be deemed to be participants in the solicitation of proxies from Precise shareholders in favor of the proposed merger. A description of any interests that the directors and executive officers of Precise in the proposed merger will be available in the prospectus/proxy statement.
Precise i3, “Performance is Our Business,” and “from URL to SQL and Beyond” are trademarks of Precise Software Solutions Ltd. All other trademarks and registered trademarks used herein are the property of their respective owners.