MKS Announces Results for Fourth Quarter and Fiscal 2002
Waterloo, ON - June 5, 2002: MKS Inc. (MKS) (TSE:MKX) today announced its financial results for the fourth quarter of fiscal 2002 and the year ended April 30, 2002.
SCM revenues increase 15% over third quarter, 14% annually
Waterloo, ON - June 5, 2002: MKS Inc. (MKS) (TSE:MKX) today announced its financial results for the fourth quarter of fiscal 2002 and the year ended April 30, 2002. 1
Total revenue for the fourth quarter of fiscal 2002 was $7.6 million, an increase of 12.8% or $0.9 million from $6.7 million in the fourth quarter of fiscal 2001. Earnings before interest, taxes, depreciation and amortization (EBITDA) for the fourth quarter of fiscal 2002, was an improved $(0.3) million, or $(0.01) per share, compared to EBITDA of $(0.9) million or $(0.03) per share in the fourth quarter of fiscal 2001. Net loss for the fourth quarter fiscal 2002 was improved to $(0.7) million, or $(0.02) per share, compared to $(4.7) million or $(0.16) per share in the fourth quarter of fiscal 2001.
Revenue for the fiscal year ended April 30 was $28.1 million in fiscal 2002, up 2.8% from $27.3 million in fiscal 2001. The Company's net loss for the fiscal year ended April 30, 2002 was $4.2 million, or $(0.12) per share, a substantial improvement of 84.3% compared to a loss of $26.7 million or $(1.38) per share for the same period in fiscal 2001.
"Our accelerating growth and improved returns in the fourth quarter validated our year long strategy to grow our new enterprise SCM business, while maximizing the return on our legacy interoperability business," said Philip C. Deck, chairman and chief executive officer of MKS. "We are enthusiastic about fiscal 2003 which we enter with a strong product lineup, an increasingly productive sales and services organization and some impressive customer wins to build on."
This quarter, MKS's SCM client base continued to show strong growth with new sales deals with Certegy Inc. and Federated Mutual Insurance Company in the financial services sector and a major SCM and IO upgrade with UBS Warburg. MKS's interoperability business also welcomed Delta Technologies to its customer roster this quarter, while Citadel Investment Groups Inc. and Concord Communications significantly increased their investment in MKS products.
Conference Call details
MKS will hold a conference call at 5:00pm EST today to discuss the fourth quarter and yearly financial results. Interested parties may access the call by dialing (877) 323-2093 (domestic) or (416) 695-9709 (international). A rebroadcast of the call will be available for one (1) week following the call during the hours of 7am-11pm. This rebroadcast is an operator-assisted call and may be accessed by dialing (888) 509-0081 or (416) 695-9728.
For details and tables, click here.
MKS Inc. ("MKS") (TSE:MKX) provides software solutions enabling development teams to analyze, build and deploy traditional and web-based software systems quickly and reliably. The company's award-winning family of MKS Integrity software configuration management (SCM) products, offer advanced technology with robust workflow, code management, and impact analysis capabilities. MKS also provides interoperability solutions under its popular MKS Toolkit brand for UNIX-Windows co-existence, cross-platform development, and system administration that significantly cut development and administrative costs and reduce time to market while enabling enhanced performance. Founded in 1984 with over 10,000 customers worldwide, MKS has built its brand on the foundation of advanced technology, superior quality and extraordinary customer service. More information about MKS can be found at http://www.mks.com, or by calling 1-800-265-2797 (US & Canada), +49-711-351775-0 (Germany), and +44-1483-733900 (United Kingdom).
This news release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect the Company's current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made including those factors detailed from time to time in filings made by the Company with Canadian securities regulatory authorities. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated or expected. The Company does not intend and does not assume any obligation to update these forward-looking statements.
1Reported in US dollars under US Generally Accepted Accounting Principles (US GAAP).
Robert Dietrich, CFO