CIMdata PLM Industry Summary Online Archive
25 May 2004
Financial News
Agile Reports Fourth Quarter Results for Fiscal 2004
Agile Software Corporation announced results for the fourth quarter of fiscal 2004, which ended April 30, 2004. Total revenues for the quarter were $27.2 million, a 42% increase from the $19.1 million recorded in the fourth quarter of fiscal 2003. License revenues for the fourth quarter of fiscal 2004 were $11.1 million, compared to $8.9 million for the fourth quarter of fiscal 2003, representing an increase of 25%.
Net loss for the fourth quarter of fiscal 2004, on a GAAP basis, was $1.7 million, or ($0.03) per share, compared to $3.0 million, or ($0.06) per share for the fourth quarter of fiscal 2003. Non-GAAP net loss for the fourth quarter of fiscal 2004, which excludes stock compensation, amortization of intangibles and gain from foreign currency translation, was $431,000, or ($0.01) per share, compared to a non-GAAP net loss of $2.3 million, or ($0.05) per share for the fourth quarter of fiscal 2003, which excludes stock compensation and acquired in-process technology.
Total revenues for the fiscal year ended April 30, 2004 were $96.3 million, compared to $70.5 million for the fiscal year ended April 30, 2003.
Net loss for the fiscal year ended April 30, 2004, on a GAAP basis, was $24.1 million, or ($0.48) per share, compared to a net loss of $36.1 million, or ($0.75) per share for the fiscal year ended April 30, 2003. Non-GAAP net loss for fiscal year ended April 30, 2004 was $5.0 million, or ($0.10) per share, compared to a non-GAAP net loss of $21.6 million, or ($0.45) per share for the fiscal year ended April 30, 2003.
"Over the past four quarters, we have seen momentum growing for PLM solutions across industries and geographies. There are several factors driving this momentum, including a shift in focus from cost cutting to a renewed focus on driving revenue growth through the introduction of new products; the fact that outsourcing has become a more significant element of many businesses; and the increasingly complex regulatory compliance environments facing many businesses. Executives are recognizing that PLM solutions can offer significant strategic benefits as they address each of these business drivers. This growing momentum is reflected in part in the fact that for the second consecutive quarter, Agile realized record revenues, even in the midst of a slow economic recovery," said Bryan Stolle, Agile chairman and CEO. "Moving forward, our focus will continue to be on making our customers successful, while driving bottom-line improvements coupled with top-line growth."
"Despite a challenging year, we improved our operating margins and added customers from a range of industries including aerospace and defense, automotive, industrial products, medical device and pharmaceutical. The investments we have made to our field operations are paying off with increasing average selling prices and record revenues, and we continued to build relationships with our partners," said Jay Fulcher, Agile president and COO. "We acquired and integrated three companies over the course of the year, expanding both the talent on our team and the depth and range of our technology and products. We remain committed to the customers that came to us through our acquisition of Eigner, as evidenced by our release of Agile e5.1 this quarter."
Customer Wins and Expansions
During the quarter, the Company added 19 new customers. Organizations that purchased new or additional licenses of Agile's PLM solutions include: Advantech, Allied Telesyn, Avail, Coherent, Covaro Networks, Fujitsu, Funai, Haemonetics, Harris, Heidenhain, Hewlett Packard, Hypercom, Inter-Tel, Inventec, KYE Systems, Leapfrog, Logitech, Matsushita, NEC, Nintendo, Panasonic, several divisions of Philips, Polycom, Quantum Design, Raytheon, Sharp, several divisions of Siemens, Thermo Electron, ThyssenKrupp, Varian Electronics, VAT Technique and ZF.
Conference Call Details
Agile will discuss its fourth quarter results and management's forward looking guidance on a conference call today beginning at 2:00pm Pacific Time. You may access replays of the Webcast for ninety days after the call at http://www.agile.com/investors Financial and statistical information to be discussed in the call will be available on the company's Website immediately prior to commencement of the call.
This release contains certain forward-looking statements which involve known and unknown risks, uncertainties or other factors not under the Company's control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or other expectations implied by these forward-looking statements. These factors include, but are not limited to, those detailed in the Company's periodic filings with the Securities and Exchange Commission.
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