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April 29, 1994

LOTUS IN LINE WITH PROJECTIONS

By CBR Staff Writer

Lotus Development Corp said it stands behind its projections that 1994 revenues will increase 12% to 15% and sustained growth after this year will be 15% to 20%, and reiterated its projection that operating margins in 1994 will be 14% to 15% and in 1995 will be 15% to 18%: it expects to sell licences for 2m or so users of cc:Mail this year and is signing up 50 to 60 new Notes partners a week; the aim is to double its Notes business in 1994; it cautioned that the annual revenue projections include a continued decline in sales of MS-DOS products, including a possible $30m fall-off of sales in the second quarter; it does not view Microsoft Corp’s newly announced mail offering as presenting an immediate threat to Notes as customers want a product that works with multiple operating systems; it sees the collaboration with AT&T Corp to develop a communications network built around Notes providing significant opportunities; the network will enable field sales staff to tie into corporate databanks, for example, or enable customers to communicate better with vendors, and offer on-line services, such as news.

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