- Strong Revenue Growth
- Yields Positive Cash Flow
All financial data included in this press release is presented in US dollars and is not audited
ATLANTA and DORDRECHT, The Netherlands – 5 May 2004 – Seagull Software (AEX: SEAGULL), a leading provider of software products for connecting legacy applications to Internet architectures, today announced that it expects to report revenues in the range of $6.7 to $7.1 million for the 4th quarter ended 30 April 2004. This compares with total revenues of $6 million for the third quarter ended 31 January 2004.
On this basis, total revenues for the second half of Financial Year 2004 are expected to be in the range of $12.7 to $13.1 million, an increase of more than 30 percent as compared with revenues of $9.7 million reported for the first half. The company expects to report positive cash flow for the second half with total cash balances in excess of $7.5 million at the end of the second half as compared with total cash balances of $6.8 million reported at the end of the first half on 31st October 2003.
Based on this fourth quarter revenue estimate, the company expects Q4 net income of up to $0.5 million.
”The IT spending trend we experienced in the third quarter has continued, and we are very pleased with results for the fourth quarter of the financial year,” commented Don Addington, CEO and President of Seagull Software.
Seagull Software plans to announce final audited results for the full Financial Year ended 30 April 2004 on 24 June 2004.
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About Seagull Software
Seagull Software specializes in powering legacy-aware application development, helping organizations accelerate the delivery of business solutions. Seagull Software’s LegaSuite® integrated software platform connects IBM mainframe, ICL, iSeries, UNIX/VT and Windows applications and databases to the Web and to other, newer-generations of applications and service-oriented architectures including XML, J2EE, .NET, (X)HTML and Web Services. For more information, visit www.seagullsoftware.com.
Committed to providing the best customer experience, Seagull Software’s technology is in use in more than 8,000 Global 2000, mid-market and public sector organizations worldwide, and by well over 2 million end users. Seagull Software has direct operations in the United States, the Netherlands, England, Ireland, France, Germany and Australia, supplemented by distributors serving approximately 30 additional countries.