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  1. Technology
October 15, 1998


By CBR Staff Writer

Platinum Technology Inc posted solid third-quarter results with net income up 38.3% at $19.4m on revenue up 31.2% at $250.3m. Earnings per share were up 23.5% to $0.21. Included in the quarter’s financials is an acquisition charge of $2.2m, net of which, income would have been $0.23 per share, or a penny better than Wall Street expected. The database and systems management specialist boasts that it was the ninth quarter in a row that it has met or exceeded expectations and claims to be an enduring, thriving independent software company. For the nine-month period, net loss was $35.2m on revenue up 31.7% at $653.5m, compared to a loss of $85.8m last year. Nine-month results include acquisition charges and merger-related costs of $72.6m. Last year’s nine-month results include similar charges of $20.9m, as well as restructuring charges of $69.6m. During the quarter, Platinum says it scored 32 license and service agreements worth $1.0m or more, up from 25 in the year-ago quarter. Operating margins for the quarter were 10.7% and the company says it’s on track to deliver on its promise of margins for the year of over 10%.

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