PRESS: INFORMIX ANNOUNCES FIRST QUARTER RESULTS
Christine Shannon
Revenues Increase 38% To $204 Million
MENLO PARK, Calif. (April 15, 1996) -- Informix Corporation=20
(NASDAQ: IFMX) today announced results for the first quarter ended March=20
31, 1996. Revenues for the first quarter of 1996 were $204 million, up=20
38% from revenues of $148 million in the year earlier period. Earnings=20
per share for the quarter were $ .10. Merger-related charges reduced=20
earnings by approximately $ .04 per share. Earnings per share for the=20
same quarter of the prior year were $ .12. The results for Q1 1996 are=20
consistent with the range of revenues and earnings per share cited in=20
Informix's preliminary results announcement of April 7, 1996. Results for=20
the year earlier period (the quarter ended April 2, 1995) have been=20
restated to reflect the acquisition of Illustra Information Technologies,=20
Inc., in February, 1996. The acquisition is accounted for as a pooling of=20
interests.
=09
"We accomplished a lot in the first quarter with a modest=20
shortfall in North American revenues but with continued strong growth in=20
Europe," said Phil White, Informix's chief executive officer. "We completed=
=20
the acquisition of Illustra, continued our record-setting TPC results,=20
and announced Informix's Universal Server, which we expect to ship later=20
this year. We continue to be the company with the highest database=20
license revenue growth rate in the industry: our database license revenue=20
increased 52% in the first quarter, compared with the first quarter of=
1995."
Summary Financial Results
Quarter Ended Quarter Ended =09
March 31, 1996 April 2, 1995 =09
Revenue $204,021,000 $148,037,000 =09
Operating Income $ 23,302,000 $ 26,326,000 =09
Pretax Income $ 25,224,000 $ 27,978,000 =09
Net Income $ 15,891,000 $ 17,646,000 =09
Net Income Per Share $ 0.10 $ 0.12 =09
Total revenue in the first quarter increased by 38% in comparison=20
with Q1 1995 results. The reported revenue increase includes the net=20
impact of foreign exchange rate movements, which reduced the reported=20
revenue growth rate by 1%.
=09
Revenue by region is as follows: North American revenues=20
increased by 32% to $81,023,000 during the first quarter, European=20
revenues increased by 41% to $84,830,000 and Intercontinental region=20
revenues increased by 44% to $38,168,000.
=09
Informix ended the first quarter with approximately $253 million=20
in cash and investments and no short or long term borrowings. Days sales=20
outstanding in accounts receivable were 82, compared with 74 at the end=20
of the first quarter of 1995.
=09
During the first quarter Informix announced a record setting=20
TPC-C benchmark on Digital Equipment Corporations 64-bit AlphaServer 8400=20
5/350 system. INFORMIX(R)=AE-OnLine Dynamic Server(TM) 7.2 delivered 13,646=
=20
tpmC at an outstanding price/performance level of $277/tpmC. This result=20
significantly exceeds those of Informix's major competitors.=20
=09
During the first quarter Medaphis Information Management selected=20
Informix to support its healthcare data warehouse that maintains and=20
manages data for Medaphis thousands of healthcare providers. Medaphis is=20
a provider of business and information management services to=20
approximately 15,000 physicians and 600 hospitals.
About Informix
=09
Informix Software, based in Menlo Park, Calif., provides=20
innovative database technology that enables the world's leading=20
corporations to manage and grow their business. Informix is widely=20
recognized as the technology leader for corporate computing environments=20
ranging from workgroups to very large OLTP and data warehouse=20
applications. Informix's database servers, application development tools,=20
superior customer service, and strong partnerships enable the company to=20
be at the forefront of many leading-edge information technology solution=20
areas.
=09
With the acquisition of Illustra Information Technology's=20
completely extensible database technology, Informix is now positioned as=20
the first information management company capable of meeting the market's=20
exploding need for a sophisticated database engine that combines=20
enterprise scalability, robustness and parallel processing with the=20
ability to store, retrieve, manage and manipulate virtually any kind of=20
rich content data. You can receive press releases via fax machine by=20
dialing 800-356-0851 or visit our web site at http://www.informix.com.
###
(C)1996. The following are worldwide trademarks of Informix Software,=20
Inc., Informix Corporation, or their subsidiaries, registered in the=20
United States of America as indicated by "(R)" and in numerous countries=20
worldwide: Informix=AE and Illustra. All other names or marks may be=20
registered trademarks or trademarks of their respective owners.
This press release contains forward-looking information within the=20
meaning of Section 27A of the Securities Act of 1933 and Section 21E of=20
the Securities Exchange Act of 1934, and is subject to the safe harbor=20
created by those sections. Informix assumes no obligation to update the=20
information contained in this press release.
Informix's future results can be impacted by a number of factors including=
=20
but not necessarily limited to the following, any of which could cause=20
actual results to vary materially from Informix's anticipated future=20
results: 1)Informix's operating results can vary substantially from period=
=20
to period. The timing and amount of Informix's revenues are subject to a=20
number of factors that make estimation of operating results prior to the=20
end of a quarter extremely uncertain. 2)Competition for Informix's=20
products is extremely competitive and there can be no assurance that=20
Informix's current products will remain competitive, or that Informix's=20
development efforts will produce products with the cost and performance=20
characteristics necessary to remain competitive. The market for Informix=20
products and services is characterized by rapidly changing technology and=20
frequent new product introductions. Informix's success will depend on its=20
ability to enhance its existing products and to introduce new products on=20
a timely and cost effective basis. 3)Informix recently announced that it=20
has completed its merger with Illustra Information Technologies.=20
Achieving the anticipated benefits of the merger will depend in part upon=20
whether the integration of the companies businesses is achieved in an=20
efficient and effective manner and there can be no assurance that this will=
=20
occur. 4)The market for Informix's common stock is highly volatile. 5)The=20
risk factors listed from time to time in Informix's SEC filings,=20
including but not limited to the annual report on Form 10-K for the year=20
ended December 31, 1995, (Part II, Item 7) and the Registration=20
Statement on Forms S-4 and S-3 filed in January, 1996 (see=20
Risk Factors sections).