Metrowerks Reports Record Revenues For First Quarter
AUSTIN, Texas — December 14, 1995 — Metrowerks' (TSE, ME: MWK) Board of Directors today announced record revenues for the first quarter of fiscal 1996, ending October 31, 1995.
Metrowerks(r), a leading vendor of Macintosh-hosted software development tools for the Macintosh(r), Power Macintosh(tm), Windows, Magic Cap and BeBox, said net revenues increased 155% from US$ 900,000 in fiscal Q1 '95, to US$ 2.3 million in fiscal Q1 '96, which ended October 31, 1995. This marked the highest single-quarter revenues report in Metrowerks history, and continued the company's revenue growth trend. This revenue increase represents a 26% increase over the previous quarter.
Net earnings increased 2,512% from US$ 8,000 (US$ 0.001 per share on a fully diluted basis) for the three months ending October 31, 1994 to US$ 209,000 (US$ 0.022 per share on a fully diluted basis) for the three months ending October 31, 1995. Net earnings increased 152% from US$ 83,000 (US$ 0.010 per share on a fully diluted basis) for the three months ended July 31, 1995.
"This quarter has been a true milestone for Metrowerks," said Greg Galanos, President and CEO. "It was our best quarter ever, marks our fifth consecutive quarter of revenue growth, and our seventh consecutive profitable quarter. We expect continued growth for 1996 as we add new platforms for programmers and expand software development options in our Code Warrior product line."
CodeWarrior Support for MIPS Microprocessors
The strong popularity of Metrowerks CodeWarrior, the company's flagship programming language software product, continues to drive the company's revenue growth. Metrowerks also announced that it will include support for the MIPS microprocessor family in CodeWarrior during the first half of calendar 1996. The MIPS R3x00 and MIPS R4x00 microprocessors are used in a variety of embedded systems and UNIX workstations.
CodeWarrior To Be Hosted on Windows 95/NT
Metrowerks also plans to host CodeWarrior on Windows(r) 95 and Windows NT(tm) in the second half of calendar 1996. CodeWarrior is currently hosted on Macintosh(r) and Power Macintosh(tm) and builds applications for a variety of target platforms including:
o Macintosh running on MC680x0 & PowerPC
o Windows(r) 95 and Windows NT(tm) running on 486 and Pentium(r)
o Magic Cap OS running on MC68349
o BeBox OS running on PowerPC
With the addition of MIPS microprocessor support, CodeWarrior will provide support for applications development for all of the major microprocessor families: the MC680x0 from Motorola; the PowerPC from Motorola and IBM, the x86 from Intel and other x86 processor manufacturers; and the MIPS R3x00/R4x00 processors manufactured by a variety of MIPS-licensees including SONY, NEC, Toshiba, Philips and IDT.
"CodeWarrior hosted on Windows is a natural progression of the Company's business," added Galanos, "as CodeWarrior already builds Windows-based applications from the Macintosh-hosted CodeWarrior. Additionally, our customers also require tools for embedded development to be cross-platform."
Earnings Table
Metrowerks' Board of Directors approved the results outlined below for the first quarter ending October 31, 1995. Effective this quarter the Company will be reporting all their financial results in US dollars as substantially all of the company's revenues and expenses are denominated in US dollars. The results for prior periods have been translated into US dollars for comparative purposes:
Oct 31 Jan 31 April 30 July 31 Oct 31
1994 1995 1995 1995 1995
(in thousands of U.S. dollars, except per share amounts)
Revenue 930 1,101 1,317 1,846 2,325
Cost of goods sold 106 149 99 477 553
SG&A and technical support 450 519 601 817 971
Research and development 345 366 484 480 615
Depreciation of fixed assets 18 25 39 69 37
Interest on long-term debt 12 11 10 3
Interest income -9 -8 -9 -83 -60
— —– —– —– —–
922 1,062 1,224 1,763 2,116
Earnings before income tax 8 39 93 83 209
Provision for income tax 0 0 0 0 0
Net Earnings 8 39 93 83 209
EPS fully diluted 0.001 0.005 0.012 0.010 0.022
As of October 31, 1995 there were 10,253,233 shares outstanding and there were 769,150 options outstanding to acquire common shares. In addition, the company also granted 31,050 share purchase options today to new employees who joined the company in the past three months.
Founded in 1985, Metrowerks develops, markets and supports a complete line of Macintosh-hosted computer language products for building Mac OS, Magic Cap, Windows 95 and Windows NT applications. Metrowerks CodeWarrior software products have quickly become the industry standard for Mac-hosted development tools with over 30,000 registered users in 60 countries. Metrowerks has office in the United States and Canada. Additional information on Metrowerks is available on the Internet at http://www.metrowerks.com, by sending email to [email protected], or by calling 512/305-0400. note to Editors: Metrowerks, the Metrowerks logo and CodeWarrior are registered trademarks of Metrowerks, Inc. CodeWarrior is a trademark of Metrowerks, Inc. Macintosh is registered trademark of Apple Computer, Inc. Power Macintosh and Mac OS are trademarks of Apple Computer, Inc. Microsoft, Windows, Windows NT and Windows 95 are either registered trademarks or trademarks of Microsoft Corp. in the United States and/or other countries. Magic Cap is a trademark of General Magic, Inc. Pentium is a registered trademark of Intel Corp. All other companies and products may be trademarks of their respective holders and are hereby recognized.
CONTACT:
Stirling & Cohan
Stacey Fields, 415/513-0980
[email protected]
or
Metrowerks, Inc.
Jean Belanger, 512/305-0460
[email protected]