| Press Release | Source: Day Software |
Day Reports Financial Results for Third Quarter for Fiscal Year 2005
Tuesday November 8, 8:13 pm ET
BASEL, Switzerland--(BUSINESS WIRE)--Nov. 8, 2005--Day Software (SWX:DAYN - News; OTC:DYIHY - News), a leading provider of global content management and content infrastructure software, today announced financial results for the third quarter of 2005.
Highlights
- 26% total revenue increase compared to the third quarter of 2004
- 88% license revenue increase compared to the third quarter of 2004
- 81% gross profit margin for third quarter 2005, up from 66% for the same period in 2004
- Net income of TCHF 770 as compared to a net loss of CHF 1.1 million for the third quarter of 2004
- New major customers added in the third quarter of 2005 include Penn State University, Department of Interior, H&R Block Mortgage, Media General, eMusic, Scripps, and Fiducia
- Successful launch of Company's new Java Content Repository - CRX, and Repository Connector product line, shipping JSR 170 Connector for EMC Documentum
- New partnership with BEA to provide JSR 170 infrastructure
The Company experienced a record third quarter, reporting a 26% growth in total revenue over the same period in 2004. Revenues for the third quarter totaled CHF 4.25 million, compared with revenues of CHF 3.37 million for the third quarter of 2004. License revenues increased by 88% over last year, totaling CHF 2.07 million, compared with license revenues of CHF 1.1 million for the same period last year. The Company increased its gross profit to CHF 3.45 million compared to CHF 2.22 million for the same period in the previous year. Net income for Q3 of 2005 was TCHF 770 compared to a loss of CHF 1.06 million in Q3 2004.
For the nine-month period ended September 30, 2005, total revenue was CHF 12.02 million, compared to CHF 10.72 million for the nine months ended September 30, 2004. License revenues for the nine months ended September 30, 2005 increased 32% to CHF 5.41 million, as compared to CHF 4.11 million for the nine months ended September 30, 2004. The gross profit margin for the nine months ended September 30, 2005 was 77%, compared to 70% for the same period in 2004. The net income for the nine months ended September 30, 2005 increased to TCHF 928, compared to a loss of CHF 2.5 million for the nine months ended September 30, 2004.
"We are excited about the excellent results for the third quarter," said Michael Moppert, CEO and Chairman of Day. "The Company has delivered the highest third quarter year license revenue in its operating history. We have added new major blue chip customers, such as Penn State University, Department of Interior, Option One Mortgage, Media General, eMusic, Scripps, and Fiducia. Costs are under control and profitability continues to increase. With these trends we are on track to deliver a healthy 2005."
"In addition to our solid financial results for the quarter we successfully launched a range of new products based on the new standard for Java Content Repositories, which we introduced to the industry this summer," Moppert continued. "The successful diversification of our products combined with our technology leadership in the emerging market of standardized content repositories proves to be a solid basis for further growth. We are excited to see the positive impact of our long-term strategy on the development of our operating results."
Successful Launch of JSR 170-Compliant Content Repository and Connector Product Line
Day Software successfully launched two new product lines, which are both fully compliant with the Content Repository for Java Technology API standard (JSR 170). The first product line is Day's new Java Content Repository - CRX. Day's CRX enables customers to manage large volumes of complex content in a standardized environment, thus gaining significant efficiency and reducing cost.
The second new product line is a series of repository connectors, which enable leading legacy repositories to interact with a standardized Java Content Repository. The first of these innovative interfaces to be delivered is for EMC Documentum. The Day connector will make enterprise content stored in Documentum's legacy repository accessible through the new industry standard, creating greater interoperability and openness. Other connectors that are in development include interfaces for FileNet, OpenText LiveLink, Microsoft SharePoint, IBM Domino.doc, Software AG Tamino, and Interwoven, among others.
"We are very excited about the initial success of these products. We have made substantial investments to initiate and lead the JSR 170 specification, the global standard for enterprise content access, and we have developed our own products in parallel with the standard. We are now on track to position Day Software as the leader in the emerging market for Java Content Repositories. We believe that this expansion of our product portfolio will be an excellent basis for further growth," explained David Nuescheler, Chief Technology Officer of Day and Specification Lead for JSR 170 initiative.
JSR 170 is the new standard that defines the interaction between a business application and the repository where the application stores content. Day Software initiated this standard three years ago, and is leading an international industry expert group that develops the JSR 170 specification. The JSR 170 initiative has gained the support of all major industry players such as IBM, Oracle, Sun and SAP.
BEA Partnership to Deliver JSR 170 Connectivity for BEA WebLogic Portal
In the third quarter of 2005, Day entered into a technology partnership with BEA, a recognized leader of infrastructure software, to deliver a JSR 170-compliant connector for BEA WebLogic Portal(TM). The Day repository connector is designed to enable BEA WebLogic Portal to interact with enterprise content repositories -- such as Day's Content Repository Extreme (CRX) -- that are compliant with the new JSR 170 industry standard.
"Supporting JSR 170 gives our customers a standard, open interface to a wide variety of content repositories, helping them to develop fuller, richer portals," said Bill Roth, vice president, solutions and product marketing, BEA Systems, Inc. "JSR 170 is emerging as one of the most important standards governing how content management and portal applications should work together. By leveraging Day's engineering expertise around JSR 170, BEA is able to provide its customers with best of breed capabilities around this exciting new standard."
BEA's decision to integrate Day Software's JSR 170 technology into their products serves as further support of Day's position as a leader in the emerging market of Java Content Repositories.
About Day (www.day.com)
Day is a leading provider of integrated content, portal and digital asset management software. Day's technology Communique offers a comprehensive, rapidly deployable framework to unify and manage all digital business data, systems, applications and processes through the web. Communique's content-centric architecture, and its innovative ContentBus, turns the entire business into a virtual repository bringing together content from any system, regardless of location, language or platform.
Day is an international company, founded in 1993, and listed on the SWX Swiss Exchange (SWX:DAYN - News) since April 2000. Day's customers are some of the largest global corporations and include Audi, DaimlerChrysler, Deutsche Post World Net, General Electric, Intercontinental Hotels Group, McDonald's, UBS and Volkswagen.
A Warning Regarding Forward-Looking Statements
This press-release may contain forward-looking statements regarding future events or the future performance of Day Software Holding AG and its subsidiaries (the "Company"). Words such as "anticipates," "expects," "intends," "plans," "believes," "may," "will," and variations of these words or similar expressions are intended to identify forward-looking statements. These statements speak only as of the date hereof. Such information is subject to change, and we will not necessarily inform you of such changes. Actual events or results, of course, could differ materially and adversely from those expressed in any forward-looking statement. We refer you to the "Risk Factors" section of the Company's Offering Circular, which can be downloaded from the "Investor Relations" section of the Company's website at www.day.com. The Company's Offering Circular contains and identifies important factors that could cause actual results to differ materially from those contained in any forward-looking statements. Among the important factors which could cause the Company's actual results to differ materially and adversely from such forward-looking statements are the intense competition in its industry, its need to stay on the forefront of technological development within its industry, and uncertainty regarding its future capital needs. The Company's stock is not listed on any United States stock exchange or market, and the Company does not make filings (e.g., Forms 10-K and 10-Q) with the Securities and Exchange Commission under the Securities Exchange Act of 1934.
The complete Financial Results for Third Quarter for Fiscal Year 2005 is on file with the SWX and is available from the Investor Relations section of our website at www.day.com.
The English text of this press release represents the binding version.
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