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SANTA MONICA, Calif.--(BUSINESS WIRE)--April 22, 1997-- Cybermedia Inc Tuesday announced its operating results for the quarter ended March 31, 1997. For the quarter ended March 31, 1997, the company reported revenues of $16,533,000, a 173% increase over the $6,058,000 reported for the same period in 1996. Net income for the first quarter was $1,369,000 or $.10 per share as compared to a loss of $1,017,000 or $.13 per share for the same period the previous year. During the quarter, CyberMedia launched First Aid 97, the latest upgrade to its First Aid family of automated service and support products for PC users in Italy, Germany, France, Australia and the United Kingdom. The international launch of these products, as well as continued strong sell-through of First Aid and Oil Change in the U.S. retail channel, contributed to the growth in revenue for the quarter ended March 31, 1997. The growth in earnings reflects both the growth in revenue and a decrease in percentage of revenue derived from lower margin direct mail during the quarter. Subsequent to the end of the quarter, CyberMedia announced the acquisition of exclusive worldwide distribution rights to Microhelp UnInstaller from Luckman Interactive Inc. In addition, in April, 1997 CyberMedia acquired Walk Softly, a small software developer located in San Jose, Calif. and announced CyberMedia's "Cyberwall" personal Internet security product for PCs. About CyberMedia
CyberMedia's products are distributed in 10,000 retail stores in the United States; internationally in Germany, Canada, Italy, France, Austria, Switzerland, the United Kingdom and Australia; via OEM distribution partners including AST, Sony, Fujitsu, Packard Bell-NEC and Phoenix Technologies; and on the Internet through America Online, leading on-line resellers, and CyberMedia's Web site. Founded in 1991, CyberMedia employs 190 people with company headquarters at 3000 Ocean Park Blvd., Suite 2001, Santa Monica, Calif. and offices in San Jose, Calif. To order, call 800/721-7824 or visit the CyberMedia Web site at http://www.cybermedia.com .
CyberMedia Inc.
Statements of Operations
(unaudited)
Quarter Ended
March 31, 1997
Revenue $16,533,000
COGS 4,213,000
Gross Profit 12,320,000
Expenses
Research & Development 1,535,000
Sales & Marketing 8,155,000
General & Admin. 943,000
Total Operating Expenses 10,633,000
Operating Income (Loss) 1,687,000
Other Income (Expense) 521,000
Profit (Loss) Before Income
Taxes 2,208,000
Provision for Income Taxes 839,000
Net Income (Loss) $1,369,000
Net Income (Loss) per Share 10 cents
Shares used in computing
income (loss) per share 13,420,000
Quarter Ended
March 31, 1996
Revenue $ 6,058,000
COGS 2,101,000
Gross Profit 3,957,000
Expenses
Research & Development 474,000
Sales & Marketing 3,879,000
General & Admin. 611,000
Total Operating Expenses 4,964,000
Operating Income (Loss) (1,007,000)
Other Income (Expense) (10,000)
Profit (Loss) Before Income
Taxes (1,017,000)
Provision for Income Taxes --
Net Income (Loss) $(1,017,000)
Net Income (Loss) per Share (13 cents)
Shares used in computing
income (loss) per share 7,890,000
CyberMedia Inc.
Balance Sheets
(unaudited)
March 31, 1997
Assets
Current assets:
Cash and cash equivalents $37,108,000
Trade accounts receivable,
net 16,747,000
Inventory 1,560,000
Prepaid expenses 713,000
Other current assets --
Total current assets 56,128,000
Furniture, fixtures and
equipment 1,245,000
$57,373,000
Liabilities and Stockholders' Equity
Current liabilities
Accounts payable $5,742,000
Accrued expenses 2,599,000
Unearned revenue 3,729,000
Grant payable 413,000
Current portion of capital lease 42,000
Total current liabilities 12,525,000
Capital lease obligation 49,000
Total liabilities 12,574,000
Stockholders' equity
Common stock 120,000
Additional paid-in capital 52,344,000
Accumulated deficit (7,665,000)
Total stockholders' equity 44,799,000
$57,373,000
December 31, 1996
(audited)
Assets
Current assets:
Cash and cash equivalents $39,322,000
Trade accounts receivable,
net 12,318,000
Inventory 2,365,000
Prepaid expenses 1,270,000
Other current assets 185,000
Total current assets 55,460,000
Furniture, fixtures and
equipment 990,000
$56,450,000
Liabilities and Stockholders' Equity
Current liabilities
Accounts payable $7,004,000
Accrued expenses 1,247,000
Unearned revenue 4,024,000
Grant payable 413,000
Current portion of capital lease 45,000
Total current liabilities 12,733,000
Capital lease obligation 49,000
Total liabilities 12,782,000
Stockholders' equity
Common stock 119,000
Additional paid-in capital 52,583,000
Accumulated deficit (9,034,000)
Total stockholders' equity 43,668,000
$56,450,000
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