LHS die Zahlen

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LHS die Zahlen hugo

LHS die Zahlen

 
#1
March 29, 2000 10:18

LHS GROUP INC files 12/31/99 10-K. Reports $262.5 mil tot rev $38.4 mil NI


Excerpted from 10-K filed on 03/29 by LHS GROUP INC:

LHS GROUP INC files 12/31/99 10-K. Reports $262.5 mil tot rev, $38.4 mil NI

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
      AND RESULTS OF OPERATIONS.

OVERVIEW
       On June 10, 1999, the Company completed its merger with Priority Call
Management, Inc. ("PCM"), in which PCM became a wholly owned subsidiary of LHS
Group Inc. The Company exchanged shares of Common Stock for all the outstanding
common shares, preferred shares, and stock options or stock appreciation rights
in PCM. The merger was accounted for under the pooling-of-interests method of
accounting and, accordingly, the accompanying financial statements and
footnotes have been restated to include the operations of PCM for all periods
presented. The Company recorded a charge of $4.3 million in the second quarter
ended June 30, 1999 related to direct external costs incurred as a result of
the merger with PCM. PCM is a provider of network-based solutions that enable
telecommunications providers to offer subscribers a range of enhanced services,
including prepaid calling, credit/debit card calling, enhanced messaging and
one-number "follow-me" services.

       In June 1998, the Company acquired the stock of Infocellular, Inc.
("InfoCellular") for $8.5 million, paid by the issuance of 117,885 shares of
Common Stock and $1.3 million in cash. InfoCellular, which operates as a
wholly-owned subsidiary of the Company, is engaged in the business of providing

point of sale and customer acquisition software and related services to
telecommunication service providers.

       This acquisition was accounted for under the purchase method of
accounting and in accordance with Accounting Principles Board Opinion No. 16,
"Accounting for Business Combinations." The Company allocated the cost of the
acquisition to the assets acquired and the liabilities assumed based on their
estimated fair values using valuation methods that were appropriate at the
time. The acquired intangible assets included in-process technology projects,
among other assets, which were related to research and development that had not
reached technological feasibility and for which there was no alternative future
use. The Company recorded a one time charge relating to the write-off of
in-process research and development of $8.2 million for the year ended December
31, 1998, in accordance with applicable accounting pronouncements.

YEAR ENDED DECEMBER 31, 1999 COMPARED TO YEAR ENDED DECEMBER 31, 1998
       REVENUES. Total revenues increased 35.3% to $262.6 million in the year
ended December 31, 1999 from $194.1 million in the year ended December 31,
1998. License revenues increased 38.5% to $108.8 million in 1999 from $78.6
million, while service revenues increased 33.1% to $153.8 million from $115.6
million for the same period. Total revenues increased primarily due to the
addition of new customers and license revenue from subscriber growth of
existing customers and increased implementation and support revenue from
existing customers.
          (End of item excerpt.)





            ----------FINANCIAL DATA SCHEDULE--------

MULTIPLIER 1,000
                           
PERIOD-TYPE                   YEAR
FISCAL-YEAR-END                          DEC-31-1999
PERIOD-START                             JAN-01-1999
PERIOD-END                               DEC-31-1999

CASH                                          86,888
SECURITIES                                    49,009
RECEIVABLES                                   96,898
ALLOWANCES                                     4,988
INVENTORY                                          0
CURRENT-ASSETS                               241,947
DEPRECIATION                                  20,413
TOTAL-ASSETS                                 280,562
CURRENT-LIABILITIES                           71,559
BONDS                                              0
PREFERRED-MANDATORY                                0
PREFERRED                                          0
COMMON                                           583
OTHER-SE                                     207,435
TOTAL-LIABILITY-AND-EQUITY                   208,018
SALES                                        262,596
TOTAL-REVENUES                               262,596
CGS                                           89,383
TOTAL-COSTS                                  205,818
OTHER-EXPENSES                                     0
LOSS-PROVISION                                     0
INTEREST-EXPENSE                               4,844
INCOME-PRETAX                                 61,622
INCOME-TAX                                    23,189
INCOME-CONTINUING                                  0
DISCONTINUED                                       0
EXTRAORDINARY                                      0
CHANGES                                            0
NET-INCOME                                    38,433
EPS-BASIC                                        .67
EPS-DILUTED                                      .65


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