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January 28, 1998


By CBR Staff Writer

Borland International Inc’s third quarter results, announced yesterday, actually spelled the end of the company’s financial year, as it switched to a calendar year on January 1. Chief executive Del Yocam expressed himself pleased with the company’s progress since he took over a year ago and the Scotts Valley development tools veteran managed to beat most estimates by two cents per share. It recorded third quarter net profits of $2.8m, or six cents fully diluted, against losses last time of $29.4m, which was after an $11.9m restructuring charge, on revenues up this time 17.0% at $43.0m. During the quarter the company acquired middleware company Visigenic Software Inc in a stock swap worth about $149m. The acquisition is due to go before shareholders for approval on February 27. The company also launched its JBuilder client/server suite and Delphi Enterprise development products during the quarter. Net profits for the nine months were $4.4m, or 10 cents per share, against $65.5m losses in 1996, which included a $13.0m restructuring charge. Revenues in the three quarters rose 11.6% to $127.5m. Cash and equivalents as of December 31 was $87.0m.

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