View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
October 15, 1998

PLATINUM CONTINUES TO THRIVE IN Q3

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%.

Websites in our network
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
I consent to New Statesman Media Group collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU