CyberMedia, Inc. Announces Record Third Quarter Results
SANTA MONICA, CA - October 22, 1997 - CyberMedia, Inc. (Nasdaq/NMS: CYBR), the leader in automatic service and support, today announced its operating results for the quarter and nine months ended September 30, 1997.
For the quarter ended September 30, 1997, the company reported revenues of $22,457,000, a 157% increase over the $8,730,000 reported for the same period in 1996. Net income before non recurring in process research and development charges was $2,417,000 or $.18 per share versus a loss of $1,322,000 or $.17 per share the previous year. A one time charge of $2,250,000 was incurred during the quarter primarily related to the technology agreement with ServiceWare announced earlier. Including this one time charge CyberMedia reported net income of $1,648,000 or $.12 per share for the quarter ended September 30, 1997.
Revenues for the nine months ended September 30, 1997 were $59,437,000, a 162% increase from the $22,680,000 reported during the same period last year. Before one time acquisition related charges associated with UnInstaller, Walk Softly, Inc. and the ServiceWare agreement, net income for the nine month period was $5,589,000 or $.41 per share versus a loss of $3,550,000 or $.45 per share for the first nine months of 1996. After these one time acquisition related charges CyberMedia reported a net loss of $3,726,000 or $.31 per share for the first nine months of 1997.
About CyberMedia
CyberMedia's mission is to empower computer users to fix computer problems on their own, before they need to call technical support hotline for help. The leading supplier of automatic service and support solutions for PC users; the CyberMedia's ActiveHelp product line includes First Aid(r), Oil Change(tm), UnInstaller(tm), PC Guard Dog(tm) and the Tech Support Yellow Pages.
CyberMedia products are distributed through more than 10,000 retail stores in the United States, including WalMart and CompUSA. They are also distributed internationally in Germany, Canada, Japan, Italy, France, Austria, Switzerland, the United Kingdom and Australia. CyberMedia products are also available from OEM distribution partners, including AST, Sony, Fujitsu, and Packard Bell-NEC. They are also available for sale on the Internet through leading online resellers as well as the CyberMedia web site. Founded in 1991, CyberMedia (NASDAQ:CYBR) employs more than 220, with company headquarters in Santa Monica, CA and offices in San Jose, CA and Japan. For additional information contact CyberMedia, Inc., 3000 Ocean Park Boulevard, Santa Monica, CA 90405; phone (310) 581-4700; fax (310) 581-4720; e-mail info@cybermedia.com or visit the CyberMedia web site.
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