MKS Announces Third Quarter Results for Fiscal 2002
Waterloo, ON - February 26, 2002: MKS Inc. (MKS) (TSE:MKX) today announced its financial results for the third quarter of fiscal 2002 and the nine months ended January 31st, 2002.
Waterloo, ON - February 26, 2002: MKS Inc. (MKS) (TSE:MKX) today announced its financial results for the third quarter of fiscal 2002 and the nine months ended January 31st, 2002.1
Revenue for the third quarter of fiscal 2002 was $7.1 million, an increase of 11% or $0.7 million from $6.4 million in the quarter ended January 31, 2001 and an increase of 4% or $0.3 million over the quarter ended October 31, 2001. In the quarter ended January 31, 2002, the Company's earnings before interest, taxes, depreciation and amortization (EBITDA) improved to $(0.4) million from EBITDA of $(2.6) million in the quarter ended January 31, 2001 and EBITDA of $(0.8) million for the quarter ended October 31, 2001. The net loss for the quarter ended January 31, 2002 was improved to $(0.8) million, or $(0.02) per share, compared to the prior year's third-quarter loss of $(4.1) million or $(0.23) per share and a net loss of $(1.2) million or $(0.04) per share for the quarter ended October 31, 2001.
Total revenue for the nine months ended January 31, 2002 was $20.5 million compared to $20.6 million for the nine months ended January 31, 2001. For the nine months ended January 31, 2002, MKS's net loss improved to $(3.5) million or $(0.11) per share compared to a net loss of $(22.0) million or a loss of $(1.26) per share for the same period in fiscal 2001.
"We continued to make strong progress in the quarter. We grew our business overall, cut our EBITDA loss in half from Q2, won several major new enterprise customers and substantially increased our backlog in services and maintenance," said Philip C. Deck, chairman and chief executive officer of MKS. "The quarter was convincing evidence that we are on the right track with our enterprise SCM strategy and are optimistic about our continued progress in the quarters ahead."
Conference Call details
MKS will hold a conference call at 5:00pm EST today to discuss the third quarter financial results. Interested parties may access the call by dialing (888) 424-1784 (domestic) or (416) 641-6701 (international). A rebroadcast of the call will be available for one (1) week following the call. The rebroadcast may be accessed by dialing (800) 558-5253, access code 20358485 or (416) 626-4100 and enter access code 20320238.
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 software configuration management (SCM) products offer advanced technology with robust workflow, code management, and impact analysis capabilities. MKS also provides interoperability solutions for UNIX-Windows co-existence, cross-platform development, and system administration that significantly cut development costs and 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).