TORONTO, CANADA -- (May 10, 2001) -- DataMirror Corporation (Nasdaq: DMCX; TSE: DMC), a leading provider of enterprise application integration and resiliency solutions, today announced preliminary estimates of its financial results for the first quarter of fiscal 2002. For the quarter ended April 30, 2001, the Company estimates revenue will be approximately $13.3 - $13.5 million and the net loss from operations before equity accounting for DataMirror’s investment in PointBase will be in the range of $700,000 to $900,000 (($0.05) to ($0.07) per share). Positive cash flow from operations is expected to exceed $6 million for the quarter ended April 30, 2001.
These preliminary estimates differ slightly from the guidance that the Company provided for Q1 2002 when it announced its results for fiscal 2001. At that time the Company estimated revenues would be in the range of $14 - $14.5 million and a net loss from operations of ($0.05) per share for the first quarter of fiscal 2002. “Our preliminary results indicate that revenues from North American and Asian operations were in line with the Company’s expectations, however revenues in EMEA operations were slightly less than expected,” said Nigel Stokes, President and Chief Executive Officer. “Even though revenue from EMEA was lower than anticipated, we are pleased with the overall progress in DataMirror’s business during the first quarter and the year over year revenue growth that we were able to sustain. We believe that existing and new customers will continue to adopt DataMirror’s products for the competitive advantages they provide,” said Mr. Stokes.
DataMirror’s actual results for the first quarter of fiscal 2002 are scheduled to be announced on May 29th, 2001. DataMirror will hold a conference call at 8:30 a.m. (Eastern Time) on May 11, 2001, to discuss its preliminary results for Q1 2002 announced in this release. Those wishing to participate are asked to call (416) 641-6701 at approximately 8:25 a.m. EST on May 11th, 2001 using pass-code number 18860716. For those unable to attend the conference call, a replay will be available by dialing (416) 626-4100 using the same reservation number as above. The replay will be available until 11:59 p.m. EST on May 18th, 2001.
About DataMirror Corporation
DataMirror (Nasdaq: DMCX; TSE: DMC) delivers solutions that let customers integrate their data across their enterprises. DataMirror’s comprehensive family of products unlocks “the experience of now” TM and includes advanced real-time capture, transform and flow (CTF) technology that gives customers the instant access, integration and availability they demand today across all computers in their business.
Over 1,400 companies use DataMirror to integrate their data. Real-time data drives all business. DataMirror is headquartered in Toronto, Canada, and has offices worldwide. DataMirror has been ranked in the Deloitte and Touche Fast 500 as one of the fastest growing technology companies in North America. For more information, call 1-800-362-5955 or visit the DataMirror web site at http://www.datamirror.com.
Sarra Mander/Chris Measures
Tel: 020 7494 6570
"Safe Harbor" Statement under the United States Private Securities Litigation Reform Act of 1995:
Forward-looking statements in this press release, including statements regarding DataMirror Corporation's business which are not historical facts, are made pursuant to the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements of plans, objectives, strategies and expectations. The words "anticipate", "believe", "estimate" and "expect" and similar expressions are intended to identify forward-looking statements. Numerous important factors affect DataMirror's operating results and could cause DataMirror's actual results to differ materially from the results indicated by this press release or by any forward-looking statements made by, or on behalf of, DataMirror, and there can be no assurance that future results will meet expectations, estimates or projections. These factors include, but are not limited to, the following: variability of quarterly operating results; dependence upon on the conti!
nued growth and success of DataMirror's software products; competition; rapid technological change and new product introductions; dependence upon continued growth in the database and enterprise data integration markets; dependence upon relationships with complementary vendors and distribution channels; the ability to recruit and retain key personnel; risks of international operations, including currency exchange rate fluctuations and global economic conditions; possible software errors or defects; possible infringement claims by third parties; and other factors discussed in the Company's Annual Information Form and other periodic filings with the United States Securities and Exchange Commission and other 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 indicated in any forward-looking statements. The Company dis!
claims and does not assume any obligation to update these forward-looking statements.
Copyright 2001 DataMirror Corporation. All rights reserved. DataMirror is a registered trademark of DataMirror Corporation. All other brand or product names are trademarks or registered trademarks of their respective companies.
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