Seagull Software Announces Preliminary Results for
Financial Year 2006
ALL FINANCIAL DATA INCLUDED IN THIS PRESS RELEASE IS PRESENTED IN US DOLLARS AND IS NOT AUDITED
DORDRECHT, THE NETHERLANDS and ATLANTA - 29 May 2006
Seagull Software (AEX: SEAGULL), a leading provider of software products for connecting legacy applications to Internet architectures, today announced that it expects to report revenue in the range of $27 to $28 million for the financial year ended 30 April 2006, an increase of approximately 19% as compared to $23.4 million for the previous financial year. On a pro forma basis net income for the year is expected to be approximately $100K, as compared with a loss of $908K for the previous year.
“Growth was our primary focus during FY 2006 so we are extremely pleased with the strong growth that the Company achieved in FY 2006, and with our ability to generate pro forma profit for the year,” commented Don Addington, CEO and President of Seagull Software.
On an International Accounting Standards (IAS) basis, the Company expects to report a net loss in the range of $900K to $1 million; including deferred stock compensation costs and amortization of intangible assets.
The Company plans to publish final audited fourth quarter and annual results for the Financial Year ending 30 April 2006 on 22 June 2006.
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About Seagull Software
Seagull Software specializes in technology that transforms "legacy" applications into SOA-compliant Web services, helping enterprises achieve exponentially faster IT support for business change, governance and compliance. Our LegaSuite® software platform includes integration, GUI, workflow and terminal emulation technology. With LegaSuite, customers connect legacy applications on IBM mainframe, VME mainframe, System i, OpenVMS and UNIX-VT and Windows client/server platforms to the Web, to other middleware and to newer-generations of applications such as portals, CRM and SCM. LegaSuite is based on open standards including Web services, XML, J2EE and .NET. Powerful and innovative tools require no coding, which means rapid results, reduced risk and no maintenance burden. Committed to providing the best customer experience in the industry, Seagull Software’s technology is in use in more than 10,000 business and government organizations worldwide, and by millions of end users. Seagull Software has direct operations in the United States, Canada, the Netherlands, UK, France, and Germany, supplemented by distributors serving approximately 30 additional countries. The company was acquired by Rocket Software (www.rs.com) in 2007. For more information, visit www.seagullsoftware.com.
NOTE TO EDITORS: The correct usage of our company name is Seagull Software.
Forward-Looking Information: All statements in this press release which
address operating performance, events or developments that we expect or anticipate
will occur in the future, including statements expressing general optimism about
future operating results and non-historical information, are forward-looking
statements. These forward-looking statements are, and will be, based on management’s
then-current views and assumptions regarding future events and operating performance.
Forward-looking statements are subject to certain risks and uncertainties that could
cause actual results to differ materially, including, but not necessarily limited to
management’s ability to manage growth, and hire and retain qualified employees;
unpredictable customer demand; intense competition; rapid technological change;
unpredictable market acceptance of new products; and market instability and/or
reduction in software purchasing caused by exceptional circumstances.
