- 22 Kwartalen aansluitend omzetgroei.
- 30% omzetgroei vergeleken met 2002 en 4% groei ten opzichte van vorig kwartaal
Nieuwegein – 1 mei 2003
Geachte redactie,
Bijgaand ontvangt u het persbericht van Precise Software Solutions (Nasdaq: PRSE), toonaangevend in performance management van IT infrastructuren, over de resultaten in het eerste kwartaal 2003 dat eindigt op 31 maart 2003.
De omzet van het eerste kwartaal 2003 kwam uit op een record van 22.2 miljoen dollar, een stijging van 30% ten opzichte van de 17.1 miljoen dollar in hetzelfde kwartaal van 2002. Vergeleken met de 21.3 miljoen dollar van het vierde kwartaal van 2002, steeg de omzet in het eerste kwartaal 2003 met 4%. Licentie-omzet steeg met 23% vergeleken met hetzelfde kwartaal vorig jaar, en met 5% vergeleken met het vierde kwartaal van 2002.
“Dit is ons beste kwartaal ooit, waarin we de sterke voortgang en groei hebben doorgezet,” aldus Shimon Alon, CEO van Precise Software Solutions. “In een moeilijke economische omgeving bleef Precise presteren, hetgeen het resultaat is van verkoop aan bestaande klanten en sterke acceptatie van onze Precise i3 Performance Management applicatie en Storage Resource Management oplossingen. Gedurende het kwartaal, behaalden we een recordverkoop van 73% bij bestaande klanten. Tevens tekenden 350 nieuwe klanten, waarbij 35 orders boven de 100.000 dollar uitkwamen, inclusief 17 orders boven 200.000 dollar.”
Uitgebreide informatie vindt u in bijgaand internationaal persbericht.
Voor aanvullende informatie kunt u contact opnemen met:
Marianne van Barneveld
035-582 27 30 / 06-5337 2153
Precise Software Solutions Reports Record Revenues, 30% Year-over-Year, 4% Quarter-over-Quarter Increase
22nd Quarter of Consecutive Record Revenue
WESTWOOD, MA — May, 2003 — Precise Software Solutions (Nasdaq: PRSE), the leader in optimizing customers’ business through Application Performance Management, today reported its financial results for the first quarter ended March 31, 2003. Revenues for the first quarter of 2003 grew 30 percent to a record $22.2 million, compared with $17.1 million for the first quarter of 2002. First quarter revenues increased 4 percent sequentially from the $21.3 million posted for the fourth quarter of 2002. License revenues grew 23% year over year and 5% sequentially from the fourth quarter of 2002.
“This was our best quarter ever, as we continued our strong momentum and growth,” said Shimon Alon, chief executive officer of Precise. “In a difficult economic environment, Precise continued to perform, as a result of strong repeat sales and strong market acceptance for our Precise i3 Application Performance Management and Storage Resource Management solutions. During the quarter, we had a record 73 percent repeat business and signed more than 350 new customers, with 35 deals over $100,000 including 17 deals over $200,000.”
On a non-GAAP pro forma basis, Precise recorded its thirteenth consecutive quarter of improving operating income, reporting $1.9 million, or $0.06 per share, for the first quarter of 2003, compared with $672,000, or $0.02 per share, for the first quarter of 2002. Its non-GAAP pro forma net income for the first quarter of 2003 was a record $2.3 million, or $0.07 per share, compared with $1.6 million, or $0.05 per share, in the same period last year. Precise reported a fully accounted GAAP operating income of $76,000 for the first quarter of 2003, compared with an operating loss of $281,000 in the same period last year. The company reported GAAP net income of $547,000 for the first quarter of 2003, or $0.02 per share, compared with $650,000, or $0.02 per share, for the same period last year.
Due to its pending acquisition by VERITAS, Precise will not be holding a quarterly conference call for investors.
The non-GAAP pro forma financial measures used in this press release exclude the effect of deferred stock compensation, intangible asset amortization and expenses related to the Company’s pending acquisition by VERITAS Software Corporation (Nasdaq: VRTS). These non-GAAP pro forma financial measures are not prepared in accordance with generally accepted accounting principles. Non-GAAP pro forma financial measures should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. The Company’s management refers to these non-GAAP pro forma financial measures in making operational decisions because they provide meaningful supplemental information regarding the Company’s operational performance and facilitate management’s internal comparisons to the Company’s historical operating results. In addition, the Company has historically reported similar non-GAAP pro forma financial measures to investors and believes that the inclusion of comparative numbers provides consistency in its financial reporting. Investors are encouraged to review the reconciliation of the non-GAAP pro forma financial measures used in this press release to their most directly comparable GAAP financial measure as provided with the financial statements attached to this press release.
A quantitative reconciliation of the differences between GAAP net income and non-GAAP pro forma net income and between GAAP operating income and non-GAAP pro forma operating income is included in this press release.
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.
In connection with VERITAS’s proposed acquisition of Precise, VERITAS filed a registration statement on Form S-4, including a proxy statement/prospectus, with the Securities and Exchange Commission on March 19, 2003. The registration statement has not been declared effective by the SEC. Precise expects to deliver a proxy statement/prospectus to its shareholders containing information about the merger after the registration statement is declared effective by the SEC. 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 proxy statement/prospectus when it is available and other documents filed by VERITAS and Precise with the SEC at the SEC’s web site at www.sec.gov. The proxy statement/prospectus and these other documents also may be obtained for free from VERITAS 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 transaction will be available in the prospectus/proxy statement.
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.
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.