Net earnings and earnings per share, reflecting special charges and amortization of goodwill and intangible assets, were a loss of $53.3 million and a loss of $0.22, respectively, in the second quarter of fiscal 2002 and were a loss of $12.5 million and a loss of $0.05 per share in the second quarter of fiscal 2001.
Total revenues in the second fiscal quarter were $293.8 million compared to $323.0 million in the same quarter of fiscal 2001. Total license revenues were $131.5 million in the second quarter of fiscal 2002 compared to $173.9 million in the second quarter of fiscal 2001. Maintenance revenues increased to $141.2 million in the second quarter compared to $129.3 million in the same quarter last year and professional services revenues increased to $21.1 million compared to $19.8 million a year ago.
Operating expenses, excluding amortization of goodwill and intangibles and special items, were $302.7 million, which is $30 million lower than the first fiscal quarter and $2 million lower than the same quarter last year.
Cash flow from operations in the second fiscal quarter was $60 million. Cash and marketable securities were $989 million. The Company does not have any short-term or long-term debt outstanding.
The Company has continued its $500 million stock repurchase program that began in April 2000 by spending $51 million to repurchase 3.4 million shares during the second fiscal quarter. Approximately $260 million remains in this program.
BMC is well positioned to weather the economic uncertainty facing us today. We have a strong balance sheet with no long-term or short-term debt and continue to generate positive cash flows from operations. I am very pleased with the initial success of our expense management initiative, said Bob Beauchamp, president and CEO of BMC Software. The fact that we continue to add new customers and have replaced multiple competitors during this past quarter demonstrates that customers are seeing the business value that our management solutions provide.
SOURCE: COMPANY PRESS RELEASE
