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Merant Announces Fourth Quarter and Fiscal 2003 Financial Results

  • 30 May, 2003 12:28

<p>Quarterly Revenues Grow 9%; Quarterly Operating Margin 6.9% of Sales</p>
<p>St. ALBANS, UK and HILLSBORO, OREGON, US – 29 May 2003 - Merant (London Stock Exchange (LSE): MRN; Nasdaq National Market (NNM): MRNT), a leading provider of software and services for managing code, content and other business-critical assets, announces results for the fourth quarter and fiscal year ended 30 April, 2003.</p>
<p>Key Fourth Quarter and Fiscal 2003 Results - Highlights:
· Fourth quarter total revenue growth of 9 percent sequentially and increased 9 percent compared to the fourth quarter of fiscal 2002
· Fourth quarter operating profits (EBITA) grew to US$2.3 million (6.9 percent operating margin)
· Positive cash flow from operations in the fourth quarter of US$4.1 million (excluding the cash impacts of restructuring)
· Fourth quarter licence fees grew 10 percent sequentially and 3 percent year on year with 14 transactions valued at over US$100,000
· Strong revenue visibility. Fourth quarter maintenance fee revenue accounted for 49 percent of total revenue for the quarter
· Sequential increase in R&amp;D and Sales and Marketing costs in line with previously announced strategic growth initiatives and new product introductions
· Key transactions in the fourth quarter included a large account win of over US$1 million consisting of the company’s new enterprise-wide SCM product offering
· Cash of US$72.8 million, with no debt at the end of the fourth quarter</p>
<p>(abbreviated release)</p>
<p>About Merant
Merant delivers the industry’s most flexible and comprehensive enterprise change management solutions. Already in use at more than 16,000 organisations across the globe, Merant’s products and services dramatically enhance the productivity, quality and ROI of customers’ technology initiatives by allowing them to quickly and cost-effectively track, manage and control modifications in business-critical information assets. For more information, please visit www.merant.com.</p>
<p>For further information please contact:</p>
<p>David Balazsy Merant 03 9522 4404
Shuna Boyd BoydPR 02 9418 8100</p>

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