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January 28, 1998

BORLAND’S Q3 SPELLS END OF SUCCESSFUL TURNAROUND YEAR

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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