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February 5, 1997updated 05 Sep 2016 1:01pm

BUSINESS OBJECTS SALES UP, INCOME DOWN

By CBR Staff Writer

French headquartered but very much US-focused end-user query tool software maven Business

Objects has reported full year results showing gains in revenue but declines in profits. Sales were

up 40% in 1996 from $60.6m to $85.1m, but net income sharply fell year on year, from $8.0m to $5.2m.

Fourth quarter figures showed the same pattern, with revenues up 31% to $25.8m, compared to

$19.8m for the same period in 1995, but with net income down to $1.8m from $3.3m. Business Objects

struggled somewhat in 1996. It was obliged to restate its first quarter results after a European sale

of $1.4m had to be wiped off the books due to actions by an employee that circumvented

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standard financial procedures; a class action suit resulted. There were also some issues to do

with software quality and stability. However, its president and CEO, Bernard Liautaud, claims

the results show the company has largely overcome our product transition issues and that the

company is on the way to a full recovery.

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