Hyperion® Software (NASDAQ: HYSW) today reported revenues of
$60.9 million and net income of $3.5 million or $.18 per
share for its first quarter ended September 30, 1997.
Revenues and net income increased 32% and 72%, respectively,
from $46 million and $2 million, or $.11 per share, for the
same period of the prior year.
Software sales for the quarter grew 40%, driven by solid
demand in each product line. Enterprise financial
management, budgeting and planning, and business analysis
all experienced healthy growth. Performance was strong
across all geographic regions.
Hyperion was recognized during the quarter by International
Data Corporation (IDC) as a leader and established
specialist in the analytic applications market, a market
predicted by IDC to exceed $2.6 billion in revenues by the
Commenting on the quarter, Jim Perakis, chairman and CEO of
Hyperion, stated: "Managers and financial professionals in
large companies are becoming increasingly frustrated with
the difficulty of extracting useful information from legacy
systems and many ERP packages. We are seeing the beginning
of a new wave of demand for analytic applications that
address this problem, and that demand is reflected in
Hyperion's software license growth in the quarter."
Perakis cited the findings of the 1997 Annual Survey of
Financial and Accounting Systems co-sponsored by Deloitte &
Touche LLP and Hyperion, noting that information access and
better reporting capabilities were stated as the most
important financial processes slated for improvement over
the next two years.
Partnership activity also contributed to results. Hyperion's
alliance with Baan generated sales in the quarter, with
additional business anticipated from a solid pipeline over
the next several quarters. Cooperative marketing has
benefited both companies' sales efforts. Hyperion also
announced an endorsement of Microsoft's OLAP (on-line
analytical processing) standards, OLE DB for OLAP, which
Hyperion believes will encourage openness and easier
integration with diverse enterprise data sources.
Hyperion Software Corporation provides software solutions
for better business understanding and improved financial
performance. Hyperion's Internet-enabled applications
support and enhance enterprise-wide processes including
planning, budgeting, forecasting, consolidation and business
analysis. With $223 million in sales for the year ended June
1997, the company's solutions are in use by more than 3,200
organizations, including more than 50% of the Fortune 500
and 40% of the Financial Times European Top 100. The company
is ranked first worldwide in budgeting software revenue by
International Data Corporation and first in financial OLAP
applications by The OLAP Report. The company is
headquartered in Stamford, Connecticut and has more than
1,200 employees worldwide. Additional information is
available on-line at http://www.hyperion.com or at
This press release contains statements that are forward
looking. These statements are based on current expectations
that are subject to risks and uncertainties. Actual results
will vary because of factors such as product ship schedules,
life cycles, terms and conditions, product mix, competitive
products and pricing, customer demand, technological shifts
and other issues discussed in the company's filings with the
Securities and Exchange Commission.
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